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JAIPRAKASH ASSOCIA, SOUTH INDIA BANK, ADANI POWER LTD, RELIANCE COMM LTD, DEWAN HOUSING FIN, SUZLON ENERGY LTD
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Double Top has formed. But it is yet to break neck line. Wait for it to break neck line and if 1 day candle closes below 8313, then short Maruti Suzuki. Target 7750.
Apollo Tyres in a really sweet spot at the moment,both technically and fundamentally.
Technically is evident from chart.
Fundamentally: Tyre manufacturing industry depends on mainly two raw materials. Synthetic and natural rubber. Natural rubber prices have been falling on account of prevailing risk of global trade war. Synthetic rubber is manufactured from crude ...
The stock can be looked at cmp and on dips towards 365
Stop loss if goes and sustains below 358 on a weekly closing basis
Take care & safe trading...!!!
Observations from chart:
- the stock has given a breakout & has come out of ascending triangle
- consolidation phase within triangle is of nearly 10 months in 1st chart
- this is generally a low volume stock with occasional spikes in volume
- MFI & RSI are currently in overbought zone
-- in the ...