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* Hindalco formed a Bullish Harmonic Pattern called Bullish 5-0 pattern on monthly chart and started rebounding from the Potential Reversal Zone of the same.
* Recently, stock gave a breakout from a Falling Channel on weekly chart and sustaining above the breakout level.
* Price also gave a breakout from a Triangle pattern on daily chart with healthy volumes.
* Currently, stock is forming a Bullish Engulfing pattern on quarterly chart, which is a positive sign for the stock.
* RSI oscillator gave a trendline breakout and moving northward on monthly chart, indicating strength in the counter.
* Looking at above technical evidences, traders are advised to buy the stock in the zone of 210-218 for an up move towards 260-280 .
* Stop-loss for the above trade setup shall be placed at 192 on closing basis.
Buy Hindalco Ltd @ 210-218 SL 192 Target 260-280 CMP 218
Tata Motors Ltd
* Nifty Auto index gave a Trendline breakout on daily chart and sustaining well above the same. Thus, we may see continuation of ongoing momentum in Auto stocks in coming weeks.
* Tata Motors rallied sharply in last three months with healthy volumes, which is a positive sign for the stock. Recently,
* stock gave a breakout from Bullish Flag pattern on daily chart and sustaining well above the breakout level.
* We are also witnessing a Golden Crossover of 50 and 200 SMA on daily chart, indicating further strength in counter.
* Looking at current price structure, we won't be surprised to see an up move towards 215 - 225 levels in coming months.
* Thus, any decline towards 177 shall be used as buying opportunity with a stop-loss of 165 on closing basis.
Buy Tata Motors Ltd @ 177-183 SL 165 Target 215-225 CMP 183
* Stock is moving in strong uptrend by maintaining Higher Highs - Higher Lows on weekly chart.
* Price was moving in a consolidation phase from last three weeks and resulted into formation of Bullish Flag pattern on weekly scale.
* It gave a breakout from the Pole & Flag pattern and sustaining above the same.
* Momentum oscillator RSI is placed positively on both daily and weekly chart and thus showing strength in the counter.
* Considering overall chart structure, we are expecting the stock to move towards 2200 in coming months.
* Thus, any dip towards 1860 shall be used a buying opportunity with a stoploss of 1795 on closing basis.
Buy PVR Ltd @ 1860-1905 SL 1795 Target 2200 CMP 1903
Max Financial Services Ltd
* Max Financial Services Limited (MFSL) took support around 100 EMA on monthly chart and turned northwards.
* Stock gave a range breakout in November and rallied sharply.
* The upmove was supported by healthy volumes, indicating buying interest of stronger hands.
* The ongoing up move is combination of Impulse and Corrective moves, which is a healthy sign for the counter as strident rally generally gets fizzle out soon.
* Currently, price is moving above its previous swing highs and getting ready for further rally towards 640 - 670 levels.
* Thus, traders are advised to buy the stock in the range of 520 - 540 with stoploss of 490 on closing basis.
Buy MFSL Ltd @ 520 - 540 SL 490 Target 640 - 670 CMP 540
City Union Bank Ltd
* City Union Bank (CUB) is steady performer and trading around its all-time high.
* It is making Higher Highs - Higher Lows on weekly chart and moving within the territory of a Rising Channel from last 34 months.
* Currently, stock is giving a breakout from a Bullish Flag pattern on daily chart.
* RSI and MACD indicator is placed positively along with a set of moving averages, indicating strength in the counter.
* Overall chart structure is quite strong and thus we advise traders to buy the stock at current juncture and on dips to 230 with a stop-loss of 215 on closing basis.
* On upside, we may see 275 levels in coming months.
Buy City Union Bank Ltd @ 230-235 SL 215 Target 275 CMP 235
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