Kingfisher Airlines -
The stock touched a high of 17.2 and went through a number of days of being locked to the lower circuit. Some sideways movement has been recently seen. The question now arises - what will happen to the stock now?
Kingfisher has a strong resistance at 14.2 upon breaking which the stock will be able to see higher levels. Two critical lower stop-loss levels are 8.5 and 7, if these levels are breached the up-move will not survive. For now the up-move is intact with the before mentioned stop-loss levels.
The long term chart shows that the stock has topped out sometime during Dec 2011 - Jan 2012 and slipped lower. Now we see the stock is trying to bottom out at these levels, but has yet to finish bottoming out. A medium term up move has begun & has taken support at 71.5. A major resistance has been established at 90.00, the stock could be held with a stop-loss at 76.00. The stock is yet to bottom out for a long term move but we see it establishing a bottom over the next few months and moving up if it holds the lower levels of 76 & 71.5.
The long term charts have confirmed a bottom on TCS with major supports at 1286.5 and 1261. The stock price has signaled an up-move at 1286.5 and has a minor resistance at 1250 and a major resistance at 1440, upon breaching which the stock might see much higher levels. Present charts patterns indicate a good opportunity for investment over the long term.