* The stock has been trading as per the momentum triple pattern theory in all time frames such as daily, weekly and monthly chart which signifies bullish trend in the counter.
* On a daily chart, the stock has taken a support of its 150 days exponential moving average and bounced back towards north which indicates an upside move in the counter. Moreover, the stock has given a breakout
* Marico is consolidating around its short-term moving average 20-week EMA after witnessing sharp decline from its life-time-high of Rs337.85. So far, its short-term moving has worked as a key reversal point for the stock.
* Positive cross-over in Stochastic and reversal in RSI from sub-50 mark is signaling that the stock is on a verge of turnaround and will soon resume its uptrend.
VOLTAS shed around 0.6% in open interest as short covering was seen in it in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying VOLTAS September call options as per levels mentioned below.
ASIANPAINT has taken a pause near its record high post breakout from its consolidating phase. We feel it’s normal profit taking and advise traders to use this phase to accumulate fresh longs in the given range.
* Berger Paints has been a consistent performer and garnered exceptionally returns for the investors. After a strong upside move from 173 to 261 levels, it has been hovering in a range between 228 -260 levels near its record high for almost past four months.
* It is currently trading around the upper band of that range and likely to witness breakout from the same in near future.
* On a daily chart, the stock has taken a strong support of its 100 days exponential moving average and formed a bullish candle with increase in volume activity which indicates positivity in the counter.
* On an hourly chart, the stock has given a breakout of the downward sloping channel which is a bullish trend reversal pattern.
* On a daily chart, the stock has formed a Bullish Hammer Candlestick with the support of its 21 days moving average which is a bullish reversal formation and indicates an upside movement in the counter.
* On a weekly chart, the stock has been continuously trading with the support of its 21 & 50 weeks moving average which shows a positive trend of the stock and suggests further up
HDFC added around 4.8% in open interest as fresh long buildup with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying HDFC September call options as per levels mentioned below.
After retesting its record high, LT has been hovering in a boarder range for last four months and about to witness breakdown from the same. Traders are advised to initiate fresh shorts on any bounce in the given range.
6/09/2017 12:14:40 PM|Posted in Broking Firm Views - Short Term Reportread full news
* On an hourly chart, the stock has given a breakout of the upper band of its ascending triangle formation which indicates an upside move in the counter.
* On a daily chart, the stock has halted its healthy correction at 125 level which is the 61.8% retracement level of its last up move from 105.60 to 158 which may cause for a north side move in the stock.
* Yes Bank is in the strong up-trend, as it reversed after taking support of its 38.2% of Fibonacci Retracement level of prior up-move (Rs1,402-1,861) and given break-out from the falling trend line, where its short-term moving average 20-day EMA supported that move.
* Due to recent recovery in the price, key technical indicators are also on the verge of positive cross-over.
* We believe that CIL’s current stock price has discounted decline in e-auction coal prices. We expect volume and realisations to recover in FY18E. Moreover, valuations of 11.5x FY19E EPS seem to be inexpensive.
* Improvement in the policy environment and infrastructure spend coupled with manufacturing activities will aid
TECHNICAL RATIONALE – HAVELLS has been trading in a range for past almost three months and holding firmly above its long term moving averages on daily chart. It has formed a fresh buying pivot and likely to witness a strong surge in near future.
5/09/2017 9:57:08 AM|Posted in Broking Firm Views - Short Term Reportread full news
MOTHERSUMI added around 1.78% in open interest with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying MOTHERSUMI September call options as per levels mentioned below.
After the recent bounce, IDEA has failed to sustain above the resistance zone of multiple moving averages around 95 and formed a fresh shorting pivot. We suggest using any technical bounce to go short in the given range.