ONGC shed around 1.5% of open interest as short covering from important price support of 190 levels. Call unwinding by writers seen at OTM strikes and put writing was seen at 190 strike. Maximum positions are at 190 PE. We suggest doing a covered call in ONGC as per below mentioned levels.
FEDERALBNK is holding strongly around its record high while sustaining above the short-term moving average on daily chart. Further, its chart pattern indicates possibility of fresh surge ahead. We suggest accumulating fresh in the mentioned range.
22/03/2017 9:28:56 AM|Posted in Broking Firm Views - Short Term Reportread full news
SCRIP NAME AND SYMBOL - The Ramco Cements Limited ( RAMCOCEM)
TECHNICAL RATIONALE – RAMCOCEM, after a recent profit taking phase, has formed a fresh buying pivot around the support area of the short-term moving average i.e. 50 day EMA on daily chart and likely to resume its uptrend now.
DIVISLAB added around 4.5% of open interest as fresh long positions. Daily vwap is around 786.50 levels. On charts, it has witnessed upside breakout from two month long congestion zone with noticeable rise in volumes. We suggest buying DIVISLAB as per levels given below.
JKTYRE, after a recent breakout from its mid and short-term moving averages (100/50 EMA) on daily chart, has witnessed a marginal pause, offering fresh opportunity to re-enter. Hence, we suggest traders can accumulate as per the mentioned levels.
20/03/2017 12:07:43 PM|Posted in Broking Firm Views - Short Term Reportread full news
AJANTPHARM added around 4.5% of open interest as long positions along with some delivery based buying in previous sessions. On charts, stock has created a fresh buying pivot on daily as well as weekly charts. We recommend buying AJANTPHARM as per levels mentioned below.
* Jain Irrigation Systems Ltd. (JISL) is a market leader in domestic MIS segment with over ~50% market share. The company is among top 3 players in PVC & PE piping and the largest player in food processing in India. It is poised to benefit from higher spends on MIS and food processing by the government. PVC and PE pipe industr
* Britannia Industries closed 1% up in trade today at Rs3,220.
* Market leadership in biscuits, increased premiumization, strong pricing power, improving direct distribution network, and management bandwidth would drive growth for Britannia Industries (BIL), going forward.
PETRONET added around 1.3% of open interest as long positions. On charts, it has created a buying pivot on multiple time frames. it is also trading above important short term as well as long term moving averages on charts in higher highs—higher lows formation. We recommend buying PETRONET Mar futs