IRB has been under pressure for last four months and trading well below the moving averages (i.e. 200/100/50 EMA) on daily chart. The chart pattern indicates further slide ahead so use any technical bounce to go short in the given range.
11/09/2017 11:25:05 AM|Posted in Broking Firm Views - Short Term Reportread full news
After hovering in a narrow range near to its support zone of medium term moving averages on daily chart, MARICO has posted a breakout from the same of late and looks upbeat to resume this uptrend in near future. Traders can accumulate fresh in the given range.
11/09/2017 11:22:00 AM|Posted in Broking Firm Views - Short Term Reportread full news
WIPRO added around 3.8% 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 WIPRO September call options as per levels mentioned below.
Strategy: Buy WIPRO SEP 300CE between 2.70-2.80, SL-0.8, TGT-6
On an hourly chart, the stock has started to trade as per the momentum triple patter theory which indicates a bullish trend formation in the counter.
Moreover, the stock is forming a strong bullish candle after taking a support of its 20 hours exponential moving average with an increase in volume activity which suggests a further upside movement in upcoming trading sessions.
* The stock has been trading as per the momentum triple pattern theory on weekly and monthly chart which signifies the long term trend is bullish in the counter.
* On a daily chart, the stock had halted its healthy correction around the 85 level from where the last positive rally was started. Moreover, the stock has given a bounce back move after taking a strong support of its 100 day
* Emami closed 1.2% up in trade today at Rs1,120 compared to 0.2% increase in the Nifty index.
* With flagship brands such as Navratna, Boroplus, Fair & Handsome and Zandu, Emami is the leading player in the FMCG market with market leadership in all four categories. Some of its flagship brands have demand that is seasonal i
INDUSINDBK added around 4.1% 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 September call options as per levels mentioned below.
ALBK, after the recent bounce, has failed to sustain above its resistance zone around 72 mark and has formed a fresh shorting pivot on chart. Keeping in mind its overall trend, we suggest initiating fresh shorts in the given range.
8/09/2017 12:05:09 PM|Posted in Broking Firm Views - Short Term Reportread full news
CAPF has posted a fresh breakout from its consolidation phase of late and looks upbeat to maintain that momentum. The broader chart structure too is pointing towards strong surge ahead. We suggest traders to go fresh long as per as the mentioned levels.
8/09/2017 11:59:37 AM|Posted in Broking Firm Views - Short Term Reportread full news
* 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.