* On daily chart stock has given a breakout from a year long consolidation at 796 – 800 level. The ongoing consolidation can be termed as an ‘inverted head & shoulder’ pattern which has bullish implications.
* After breakout the stock consolidated for 4-5 days in the breakout candle which is a healthy sign.
* On a daily chart, the stock has been trading in an uncharted territory with ample volume after giving a breakout of its consolidation phase which shows that the stock has shifted its momentum to a new zone and may continue further in coming trading sessions.
* Besides, the stock has moved out of its consolidation phase with the gradual increase in volume which may lead the stoc
* Cipla has retraced 75% of prior up-move (Rs525-594) amidst weakness in the Pharma sector, where its long-term moving average 100-DSMA worked as key reversal point for the stock (on a closing basis) and helped it to give break-out from the intermediate falling trend line.
* Rise in the key technical indicators-RSI and MACD post their positive cross-over is signalling strength in the
TECHNICAL RATIONALE – BIOCON, after consolidating in a range of 325-350, has witnessed a breakout today i.e. on Sept 18 and likely to fill the gap, closer to 375 level in near future. Traders are advised to use any dip in the given range to accumulate fresh.
19/09/2017 11:47:25 AM|Posted in Broking Firm Views - Short Term Reportread full news
APOLLOTYRE added around 10% in open interest as fresh long positions with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying APOLLOTYRE September call options as per levels mentioned below.
INFRATEL was consolidating in narrow range near its major moving averages(200/100/50 EMA) on daily chart and witnessed swift rebound today, which has result in formation of fresh buying pivot too. Traders shouldn’t miss this opportunity and go long in the given range.
19/09/2017 11:29:49 AM|Posted in Broking Firm Views - Short Term Reportread full news
* In 1955, Government of India decided to develop the oil and natural gas resources in the various regions of the country as part of the Public Sector development. With this objective, an Oil and Natural Gas Directorate was set up towards the end of 1955, as a subordinate office under the then Ministry of Natural Resources and Scientific Research. The department was constituted with a nucleus o
DISHTV has been trading in a downtrend for last almost five months and currently hovering around the resistance zone of moving averages on multiple time frames. The chart pattern indicates fresh breakdown in near future.
After a month-long consolidation, ADANIPORTS has posted a breakout, supported with decent rise in volume. All indications are in the favor of strong surge ahead. Traders can accumulate fresh in the given range.
18/09/2017 12:00:23 PM|Posted in Broking Firm Views - Short Term Reportread full news
FEDERALBNK added around 10% in open interest as fresh long positions with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying FEDERALBNK September call options as per levels mentioned below.
* Berger Paints India Ltd. is the second largest decorative paint player in India with a market share of ~ 19%. The company offers a variety of innovative painting solutions to its customers in decorative and industrial segment with its strong distribution network comprising of 75 stock points and 15,000+ paint retailers.
* Axis Bank closed 4% higher, outperforming benchmark NIFTY. The Bank has started FY18 with positive surprise on asset quality front led by sequentially lower fresh slippages, moderation in credit cost along with stable overall asset quality.
* Its Watch List has substantially declined to 2.1% of total loan book from the level of 6.7% in Mar’16, which clearly indicates that
SIEMENS added around 8% in open interest as fresh long positions with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying SIEMENS September call options as per levels mentioned below.
After making a record high, PCJEWELLER has been witnessing profit booking for last one month. Its chart pattern indicates possibility of further slide thus traders should use any bounce to go short in the given range.
Post breakout from its trading range that lasted for almost four months, VGUARD has retraced marginal of late and reached closer to the support zone around 190 level, offering fresh opportunity to enter. We suggest traders to utilize this pause and accumulate fresh longs in the given range.
15/09/2017 12:00:21 PM|Posted in Broking Firm Views - Short Term Reportread full news