* On a weekly chart, the stock has formed Bullish Harami candle stick pattern with the support of its 50 weeks moving average which can be considered as a bullish reversal formation and indicates an upside movement in the counter.
* Moreover, after a healthy correction from its recent high, the stock has halted its correction at 295 level which is a 50.00% retracement level of its pre
* The stock has retraced 30% of prior up-move (Rs1,256-3,330) after registering life-time-high of Rs3,330, where its short-term moving average 20-week EMA tried to halt further decline with a narrow range consolidation.
* Due to the recent retracement in the stock, Stochastic slipped into oversold zone and its RSI is about to hit the neutral line.
HINDZINC futures added around 18.5% in open interest as fresh long positions with spurt in volume in previous session. Current chart pattern too indi-cate fresh surge in price. We suggest buying HIN-DZINC September 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.
CANBK has been trading under pressure from last almost two months. It tried to recoup some losses in between but failed to cross its resistance zone around 345, result in formation of a fresh shorting pivot on chart. Traders can go fresh short in the given range
30/08/2017 10:50:08 AM|Posted in Broking Firm Views - Short Term Reportread full news
Unlike with other Pharma counters, AUROPHARMA has been holding strong and witnessed a fresh breakout of late after consolidating around the support area of long term moving average on daily chart. Considering its chart pattern, we feel a strong surge is ahead to come. Hence, we advise buying this stock in the given range.
TECHNICAL RATIONALE – After breakout from a trend reversal pattern, MCDOWELLN witnessed sharp surge in early July and touched 2750+ mark in no time. The recent retracement to the neckline area of the pattern is again offering an opportunity to accumulate. Existence of moving averages
* On a daily chart, we can see an evening doji star candlestick pattern which is a trend reversal pattern and may lead the stock to move further in a southward direction.
* Moreover, it has faced a strong resistance of its upper arm of symmetrical triangle formation in which it has been trading since last three months, which suggests downside move in the counter for the time being.
YES Bank closed 2.2% higher, outperforming benchmark NIFTY Index by 1.6%
The bank is making sustained progress towards building a strong retail franchise, which we expect would add depth to its balance sheet and boost earnings. Detailed study of loan book indicates that the Bank has been able to manage the issues of asset quali
DABUR added around 15.8% 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 DABUR Aug futures as per levels mentioned below.
IDFC is trading in a indecisive manner and struggling to hold above the resistance zone of moving averages. The chart pattern indicates further fall thus we advise creating fresh shorts in the given range.
29/08/2017 3:12:10 PM|Posted in Broking Firm Views - Short Term Reportread full news
ASIANPAINT has been consolidating in a broader range for almost three months closer to the support area of multiple moving averages on daily chart. The recent surge indicates strong possibility of breakout in near term..
US business is expected to show strong traction on the back of ramp-up in new US FDA approvals (derma segment), steady sales growth Mupirocin and some limited competition opportunities such as gStrattera and gDesonide.
On innovative R&D side, GNP announced positive data from a Phase-IIa clinical trial of GBR 830. We believe