Let us now list the top 10 winners of this month in a technically uncertain market.
| NSE Symbol | BSE Group | BSE Scrip Code | % Gain in Oct 07 |
| NSIL | B1 | 532256 | 166.51 |
| STCINDIA | B1 | 512531 | 133.61 |
| INDIANHUME | B1 | 504741 | 124.11 |
| GMDCLTD | A | 532181 | 115.89 |
| RIIL | B1 | 523445 | 106.88 |
| OCL | B1 | 502165 | 74.22 |
| TORNTPOWER | B1 | 532779 | 68.11 |
| JAIBALAJI | B1 | 590064 | 67.57 |
| WALCHANNAG | B1 | 507410 | 63.79 |
| JINDALSTEL | A | 532286 | 61.30 |
The following table lists the number of upper freezes (10%, 5%) for the above stocks since October 1.
| NSE Symbol | 10% Freezes | 5% Freezes |
| NSIL | - | 14 |
| STCINDIA | - | 17 |
| INDIANHUME | 2 | - |
| GMDCLTD 1 | 4 | 2 |
| RIIL 2 | - | 17 |
| OCL | - | - |
| TORNTPOWER | - | - |
| JAIBALAJI | - | 11 |
| WALCHANNAG | 3 | 4 |
| JINDALSTEL | - | - |
1 GMDCLTD had one 20% upper freeze and three 5% lower freezes in addition to the above.
2 RIIL had two 5% lower freezes. It created a record by having only freezes during the month so far on all sessions.
If we exclude the stocks that have a tendency to freeze, Indian Hume, OCL India, Torrent Power and Jindal Steel appear to have moved ‘technically’.
In the weekly chart of Indian Hume shown above, the stock broke the support trendline during March 2007. However, it did not break the horizontal support since then. During the last week of September the stock closed above the resistance trendline. The stock has gained 224% since then. The 8 month consolidation was broken last week.
Torrent Power too, had a breakout during the first week of this month, after nearly 11 month consolidtaion pattern. Jindal Steel has appreciated nearly 58 times since January 2001 and at Rs.8365 it is one of those ‘high priced’ stocks. OCL India has gained 42% in the last two trading sessions.
The top 10 losers during October 2007 are given below:
| NSE Symbol | BSE Group | BSE Scrip Code | % Loss in Oct 07 |
| CREWBOS | B1 | 532542 | 30.33 |
| MALUPAPER | B1 | 532728 | 29.71 |
| MIRZAINT | B1 | 526642 | 29.70 |
| SABERORGAN | B1 | 524446 | 25.06 |
| ATLANTA | B1 | 532759 | 24.93 |
| GMRINDS | B1 | 500162 | 24.81 |
| CENTUM | B1 | 517544 | 23.13 |
| GOLDIAM | B1 | 526729 | 22.07 |
| SELMCL | B1 | 532886 | 22.04 |
| TRIGYN | B1 | 517562 | 21.78 |
This stock has fallen from its high at 294.90 in February 2007 to a low of 93.60 during last week.Crewbos has its last support at 90 as can be seen from the above chart. The stock had broken its supports twice; it can also be noticed that, when it bounced back last time, its previous support acted as a resistance, which it could not break. It is usually said that one may enter at the third low which is very near. But, unless strong reversal signs are seen with volume confirmation, one may not enter this stock.
Malu Paper and Sabero Organics were The India Street’s long term and medium term picks. These are good examples of how stocks may go down after breaking resistance. The stocks gained 28% and 14% respectively after the bullish breakout. One may use lower levels to enter the stocks. Like Crewbos, Mirza International has also broken weekly supports and the stock is bearish. We discussed about Atlanta in “Top Ten Signs a Stock is Going to Move up or down” under ‘over manipulations’ category. However, during this month there was not a single upper freeze or lower freeze for this stock.
GMRIndustries, Centum, Goldiam International, SEL Manufacturing Company and Trigyn Technologies are bearish in daily charts.