* After a slide from its record high i.e from the levels of 748 to 400 mark, BATAINDIA has undergone a consolidation phase in a broader range for almost a year. This consolidation phase has led to the formation of “Inverted Head and Shoulder Pattern” on weekly chart, which act as continuation pattern if forms within a trend.
* Incorporated in 1924, Karnataka Bank (KTK) is one of the oldest private sector banks with a strong regional presence in the Karnataka State. The bank has transformed itself towards higher retail book which is expected to drive growth in profitability. Karnataka state continues to remain the Bank's major business area.<
EQUITY INDICES Intraday Picks OIL INDIA LTD (PREVIOUS CLOSE: 285) BUY For today’s trade, long position can be initiated at around Rs284 for the target of Rs295 and with a strict stop loss of Rs278. RBL BANK LTD (PREVIOUS CLOSE: 517) SELL For today’s trade, short position can be initiated at around Rs520 for t
IOC added around 12.40% of open interest as fresh long positions. On charts, it has rebounded from historical price support of 366 and 200 EMA support of 367 levels on daily charts. It has also registered trend-line breakout on daily charts with strong volumes. We expect it to rally till 415 levels in short term. Hence, we recommend bu
MGL has posted a breakout today from its trading range i.e. 980-1005 on daily chart. Keeping in mind its overall chart pattern, we expect strong surge ahead so traders can initiate fresh longs in the given range.
4/08/2017 12:20:27 PM|Posted in Broking Firm Views - Short Term Reportread full news
added around 9% of open interest as short positions. Daily vwap is around 142.60 levels. It has also created a fresh selling pivot on daily charts, and it is also trading below its long term as well as medium term moving averages on same time frame. Hence, we recommend buying BHEL 140 PE as per levels g
Mostly PSU banks are still trading under pressure and UNIONBANK is no exception. In fact it has witnessed a fresh breakdown from its support zone of multiple moving averages on daily chart. We advise traders to initiate fresh shorts in the given range.
3/08/2017 11:49:29 AM|Posted in Broking Firm Views - Short Term Reportread full news
ESCORTS has swiftly rebounded after retesting its support zone around 630 level of late. It was a healthy retracement from its record high, offering fresh opportunity to enter. Traders can use any dip in the given range to go long.
3/08/2017 11:46:43 AM|Posted in Broking Firm Views - Short Term Reportread full news
After a decent correction from its 52 week high, ICICIPRULI has found support around 435 mark of late and likely to rebound strongly. We advise traders to utilise this corrective phase to accumulate fresh.
2/08/2017 11:15:13 AM|Posted in Broking Firm Views - Short Term Reportread full news
DCBBANK has been trading in a range for almost a month around its 50 day EMA on daily chart and witnessed a sharp surge today with noticeable rise in volume, indicates breakout. Traders can initiate fresh long in the given range.
2/08/2017 11:11:38 AM|Posted in Broking Firm Views - Short Term Reportread full news
TECHNICAL RATIONALE – KAJARIACER has rebounded strongly today i.e. 31st July from its support zone of medium term moving averages on daily chart, after consolidating in a broader range for almost two months. Considering its chart pattern, we believe a strong surge is likely in near
MGL has been holding firmly above its medium term moving averages on daily chart. Currently, it is trading on the verge of upside breakout from its trading range 980-1004 on chart. We advise accumulating in the given range.
1/08/2017 1:47:24 PM|Posted in Broking Firm Views - Short Term Reportread full news
After a strong rally, HEROMOTOCO has been witnessing profit booking and retraced closer to its support zone around 3600 level. The chart pattern indicates marginal consolidation followed by strong up move. Thus traders shouldn’t miss this opportunity and create fresh long in the given range.
1/08/2017 1:44:22 PM|Posted in Broking Firm Views - Short Term Reportread full news
After consolidating in a narrow range near its support zone of 50 and 100 day EMA on daily chart, BHARATFORG is now trading on the verge of breakout from the same. Further, the chart pattern along with the indicators are also pointing towards a fresh strong surge ahead
31/07/2017 11:27:39 AM|Posted in Broking Firm Views - Short Term Reportread full news
HINDPETRO added around 3% of open interest as fresh long positions along with some delivery based buying in previous trading session. It has also created a fresh buying pivot on intraday as well as on daily charts. It is also trading above its short term as well as long term moving averages on daily charts. Considering the recent development