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A stock for momentum traders!Quickheal has given a trendline breakout today with very heavy volumes. Stock has also managed to close above 61.8% fib retracement which clearly indicates a strong buy signal. However, the SL for positional traders is very far below 230 DCB. A retracement is favourable for short term traders. Best buy level can be 250-255 for targets of 330+. However, risky momentum traders can look for quick 5% returns at CMP. Stock might touch 295 levels in this momentum. Idea shared for educational purposes!
NSE:QUICKHEALLong
by chartistamey
1
Hero motors-Green days ahead?Hero motors stock has formed a cup and handle pattern from past 4 years. A breakout of this pattern will unlock new highs for the stock. From investment POV, stock offers attractive dividend yield of more than 3% at CMP. Some ratios from fundamental analysis are: D/E is almost 0 ROCE>20% ROE>15% PE is 20 at CMP For trading purposes, stock is risky considering broader markets are at lifetime high. Best buy level is anywhere close to 2930-2950 with SL of 2700 DCB. Targets are 3300 and above that stock can fly to ATH if market supports. IDEA SHARED ONLY FOR EDUCATIONAL PURPOSES.
NSE:HEROMOTOCOLong
by chartistamey