Sell Cummins India Ltd For Target Rs.880.00 - Religare Sec

CUMMINSIND has been trading sideways for last two months and failed to cross the resistance around 950 despite multiple attempts. The recent indications are pointing towards fresh fall in near future thus we advise traders to use any technical bounce to initiate fresh short in the given range.

 

13/10/2017 12:17:42 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Aurobindo Pharma Ltd For Target Rs.780.00 - Religare Sec

Aurobindo Pharma Limited (AUROPHARMA)

Unlike majority of pharma counters, AUROPHARMA has been consolidating in a boarder range while sustaining above the support area of multiple moving averages on the daily chart. After spending nearly three months, it now looks all set for a breakout. Traders shouldn’t miss this chance and accumulate fresh in

13/10/2017 12:11:16 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Intellect Design Arena Ltd For Target Rs.160.00 - Choice Broking

* The stock has started to trade as per the Momentum Triple Pattern theory in hourly chart which shows the bullish sentiments in the stock.

* On a daily chart, the stock has given a breakout of the neckline of its Cup & Handle formation with above average volume which indicates a robust upside move in the counter.

*  Moreover, recently the stock has taken a support

12/10/2017 6:00:34 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Grasim Industries Ltd For Target Rs.1040.00 - Choice Broking

* On an hourly chart, we can see a bearish trend in the counter as 20-50-100 hourly exponential moving averages are in a declining order and the stock is trading below these averages.

* On a daily chart, the stock has faced a strong resistance at the confluence of its 20 & 50 days exponential moving averages which indicate a weakness in the counter.

* On a weekly chart,

12/10/2017 5:20:57 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Peninsula Land Ltd For Target Rs.29.00 - Choice Broking

* On an hourly chart, the stock has started to trade as per the Momentum Triple Pattern Theory which indicates that the trend is up and the stock could further accelerate its upside movement.

* On a daily chart, recently the stock has taken a support of its 20 days exponential moving average which shows bounce back move in the counter.

* On a weekly chart, the stock has been

12/10/2017 5:13:42 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Apollotyre Ltd For Target Rs.7.00 - Religare Sec

Derivative Ideas

APOLLOTYRE added around 5.2% in open interest as fresh short positions. Current chart pattern too indicate more fall in price. We suggest buying APOLLOTYRE October put options as per levels mentioned below.

 

Strategy: Buy APOLLOTYRE OCT 235PE BETWEEN 4-4.10, SL-2.70, TGT-7

 

12/10/2017 12:39:12 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Bank of India Ltd For Target Rs.125.00 - Religare Sec

Bank of India (BANKINDIA)

PSU banks have been trading under pressure since long and BANKINDIA is no exception. After its multiple failed attempts to cross the resistance zone of major moving averages, it has a formed a fresh shorting pivot on daily chart and likely to witness sharp decline ahead. We suggest using any bounce to go short in the mentione

12/10/2017 12:34:59 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Godrej Consumer Products Ltd For Target Rs.1030.00 - Religare Sec

Godrej Consumer Products Limited (GODREJCP)

After a strong rebound from its support zone around 885 level, GODREJCP has witnessed a marginal profit taking today i.e. on Oct 11, offering fresh buying opportunity. Traders shouldn’t miss this chance and accumulate fresh in the given range.

 

12/10/2017 12:23:44 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Reliance Industries Ltd For Target Rs.895.00 - Choice Broking

* On a daily chart, the stock has been trading as per the Momentum Triple Pattern theory which indicates a bullish sentiment in the counter.

* Moreover, the stock has formed Higher High & Higher Low Pattern with above average volume which indicates a continuation of the trend.

* On a weekly chart, the stock has been trading with the strong support of its 20-weeks exponen

11/10/2017 5:34:48 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Majesco Ltd For Target Rs.528.00 - Choice Broking

* On a daily chart, the stock has been trading as per the Momentum Triple Pattern Theory which indicates that the trend is up and the stock could further accelerate its upside movement.

* Moreover, recently the stock has taken a support of its 50 days exponential moving average which shows bounce back move in the counter.

* Furthermore, the stock has given a breakout of its

11/10/2017 5:09:21 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Tata Motors Ltd For Target Rs.385.00 - Choice Broking

* On a daily chart, the stock has been trading in a falling channel pattern, and is reversing after testing falling resistance trend line of channel.

* On a daily chart, the stock has been trading below its 200 days moving average which suggests a negative trend of the stock.

* On a weekly chart, the stock has been trading with a negative crossover of 50*100 moving average i

11/10/2017 4:32:31 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Adf Foods Ltd For Target Rs.285.00 - Choice Broking

* The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which shows the bullish sentiments in the stock.

* Moreover, the stock has given a breakout of its consolidation phase with an increase in volume activity which indicates a robust upside move in the counter.

*  On a weekly chart, the stock ha

11/10/2017 4:12:55 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy IDFC Ltd For Target Rs.70.00 - Religare Sec

IDFC Limited

IDFC has recently witnessed strong surge after consolidating around the support zone of multiple moving averages on daily chart. The overall chart pattern indicates up move to continue. Traders should use any dip in the given range to create fresh longs.

11/10/2017 10:24:46 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy Cipla Ltd For Target Rs.605.00 - Religare Sec

Cipla Limited

CIPLA has been trading in a broader range 530-640 level for past one year. It has reached closer to the upper band of the consolidation phase again and likely to witness breakout this time. Traders shouldn’t miss this opportunity and go long in the mentioned range.

11/10/2017 10:21:52 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy CEAT Ltd For Target Rs.1,820.00 - Choice Broking

* On an hourly chart, the stock has started to trade as per the Momentum Triple Pattern theory which indicates a bullish sentiment in the counter.

* Moreover, the stock has been trading between the range of upward rising channel formation which indicates a continuation of the trend.

* On a daily chart, the stock has multiple support zone around 1630 level from where it bounc

10/10/2017 5:34:32 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Dwarikesh Sugar Industries Ltd For Target Rs.80.00 - Choice Broking

* The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which shows the bullish sentiments in the stock.

* Moreover, the stock has given a breakout of its consolidation phase with an increase in volume activity which indicates a robust upside move in the counter.

* On a weekly chart, the stock has been

10/10/2017 5:30:04 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Equitas Holdings Ltd For Target Rs.164.00 - Reliance Sec

* Equitas reversed after taking support of prior swing low and later it rose to 6-day closing high.

* Rise in the key technical indicators-RSI and Stochastic post their positive cross-over is signaling that the stock will recover prior damages.

* On the higher side, the stock will face hurdles around Rs164 which are coinciding with prior reversal points.

* In case

10/10/2017 2:45:36 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Skipper Ltd For Target Rs.254.00 - Reliance Sec

STOCK IN FOCUS

* Skipper is one of the world’s largest integrated transmission tower manufacturing companies, having a nameplate capacity of 200,000 MTPA. The Company which enjoys 10-15% market share in India’s T&D structure market – also executes critical infrastructure EPC projects. Further, it plans to expand CPVC capacity from

10/10/2017 2:40:26 PM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas IndusInd Bank Ltd For Target Rs.61.00 - Religare Sec

Derivative Ideas

INDUSINDBK added around 9.6% 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 INDUSINDBK October call options as per levels mentioned below.

 

Strategy:

10/10/2017 11:55:23 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Cummins India Ltd For Target Rs.892.00 - Religare Sec

Cummins India Limited

CUMMINSIND has been trading sideways for last two months and failed to cross the resistance around 950 despite multiple attempts. The recent indications are pointing towards fresh fall in near future thus we advise traders to use bounce to initiate fresh short in the given range.

10/10/2017 11:53:25 AM | Posted in Broking Firm Views - Short Term Report read full news

Technical Recommendation 9th October 2017

SCRIP NAME AND SYMBOL - Shriram Transport Finance Company Limited

TECHNICAL RATIONALE – SRTRANSFIN has been trading in a broader range of 930-1120 for last one and half year. It has again reached closer to the upper band of that consolidation zone and likely to witness breakout in near future. Existence of multiple moving average

10/10/2017 9:36:08 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Jet Airways Ltd For Target Rs.520.00 - Choice Broking

* On an hourly chart, the stock has given a breakout of the neckline of its Double Bottom formation which may cause an upside movement in the counter.

* Moreover, the stock has started to trade above the 50-hours exponential moving average which shows a positivity in the counter.

* On a weekly chart, the stock has formed a Hammer Candlestick with the support of its 50 weeks

9/10/2017 3:19:39 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Munjal Auto Industries Ltd For Target Rs.87.00 - Choice Broking

* On a daily chart, the stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which shows the bullish sentiments in the stock.

* Moreover, the stock has given a breakout of its last strong distribution level and made a fresh all-time high level with an increase in volume activity which indicates a robust upside move

9/10/2017 3:11:14 PM | Posted in Broking Firm Views - Short Term Report read full news