Two Stocks To Watch Now: Tata Steel Bsl and Alkyl Amines Chemicals

Posted Date: March 17 2021

Tata Steel Bsl 

Tata Steel Bsl stock has broken out of a 6-week, 18% deep Consolidation Base 3-weeks ago. However, the stock is still worth watching as the current price is only 2% away from the ideal buy price of INR 46.

Last week, the stock closed in red, but on a lower volume. It was down -1.6% on a -53% lower volume than the 10-week average. You want to see a strong close on heavy volume before initiating a position. That signals institutional buying. But do not conclude anything just based on last week’s action. A prudent approach would be to watch the price volume momentum in the coming trading sessions.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 6.4% away from the 10-week moving average.

Tata Steel Bsl has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 84. In the last twelve months, the stock has rallied over 130.3% as compared to 51.5% for the Nifty500.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward.

Tata Steel Bsl stock has a strong institutional support. The Accumulation/Distribution Rating of 'A' represents heavy institutional buying over the past 13 weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

The current price of Tata Steel Bsl is -8% off from its 52-week high price and 213% above its 52-week low price. The stock belongs to the industry group of Steel-Producers, which is exhibiting excellent strength in the current market environment. The current industry group rank is 34.

The stock appears on our idea lists: Trend Template - 1 Month.

Alkyl Amines Chemicals 

Alkyl Amines Chemicals stock is worth watching as the stock is forming a 9-week, 17% deep Cup With Handle Base. The current price is only 5% away from its ideal buy price of INR 5480. Aggressive investors could use any tight area breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 3.9% away from the 10-week moving average.

Alkyl Amines Chemicals has been a roaring outperformer as compared to the broader market. It has a top-notch Relative Strength Rating of 90. In the last twelve months, the stock has soared over 316.8% as compared to 71.1% for the Nifty500.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Alkyl Amines Chemicals can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Alkyl Amines Chemicals has an Accumulation/Distribution Rating of 'A+'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Alkyl Amines Chemicals has an excellent EPS Rank of 96, which indicates consistency in earnings. The earnings and sales for the stock have grown by 69% and 23%, respectively over the past three years. Its 3-years earnings stability is 11, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 42% and 21%, respectively. The 5-years earnings stability is 20. The return on equity for the last reported year is 38%.

The stock belongs to the industry group of Chemicals-Specialty. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 79. The current price of Alkyl Amines Chemicals is -7% off from its 52-week high price and 407% above its 52-week low price.

The stock appears on our idea lists: Trend Template - 5 MonthsLong Term Leaders.

What do you think? Please email us any questions or comments.

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