HCL Tech BreakoutNSE:HCLTECH has given a strong breakout on weekly charts. This is another IT company that is looking strong. One can invest here with a stop loss at 1250. Go long.
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Zensar Tech Clean BreakoutNSE:ZENSARTECH has given a clean breakout. The whole IT pack is moving and Zensar looks like one of the stronger companies out there. Buy with a stop loss at 560.
Nifty 50 Equal Weighted IndexOn a day when major Indian Indices saw major rallies, Nifty 50 Equal Weighted Index grew over 9% in a single session! This shows the true strength of the rally that we witnessed today.
In a traditional market capitalization-weighted index, stocks with larger market capitalizations have a more significant impact on the index's performance. In contrast, an equal-weighted index treats all stocks equally, regardless of their market capitalizations.
The Nifty 50 Equal Weighted Index gives the same weight to each of the 50 stocks in the Nifty 50. In other words, each stock contributes equally to the index's performance.
NSE:NIFTY50EQUALWEIGHT NSE:NIFTY NSE:BANKNIFTY
Max Healthcare Clean BreakoutNSE:MAXHEALTH has given a clean breakout and a simple stop loss at 620 can be followed for this share. Fundamentally we can see Hospital Stocks doing really well (business) and the numbers are definitely translating into stock price performance.
Datamatics Clean BreakoutNSE:DATAMATICS has given a clean breakout and a stop loss at 660 can be followed for this share. It should do well over the next few weeks. It went under a strong consolidation and is now on the up-move.
Bosch Breakout AttemptNSE:BOSCHLTD looks very good on monthly charts. Bosch is a bit complex because the ticket size is big and therefore, price movements can be erratic. So if the chart shows a clean breakout above current levels (20,700) one can go long while maintaining the current level as stop loss.
BASF India Weekly BreakoutNSE:BASF has given a solid breakout on weekly charts and investors and traders can look to buy this share with a stop loss at 2800 and target of 3640. Beautiful Chart Structure.
Zomato looking StrongNSE:ZOMATO continues to look strong and one can keep a stop loss at 114 and go long in this counter. The stock is in a good up-move. Zomato as a business is a duopoly and is now profitable as well. Looks good.
Abbott India at breakout levelsNSE:ABBOTINDIA has been at this zone before, but this time there is a rally in the pharma sector itself. Keep an eye on this share at the current levels of 24,000. Any breakout above here can be a great opportunity to buy.
Aarti Industries Bottom FormationChemical companies are bottoming out and there are clear signs of reversals here. NSE:AARTIIND even after poor results gave a strong move. However, I would prefer to buy only when the lower high formation gets broken. In this case that is above the 535 level. Keep this and other companies of this sector on your radar. Can be an end to a big correction.
Can MCX go the BSE way?NSE:MCX has given a very strong move and a big breakout on monthly charts. This breakout should not be ignored. BSE has run up significantly and NSE should list in the next 1-2 years. MCX is the undisputed leader in commodities trading in India. MCX is also fundamentally looking very strong with higher revenue coming in from Options Trading Contract.
Senco Gold continues its rallyNSE:SENCO has given a fresh breakout and the revised stop loss here is 700. One can hold this share and I do expect this company to do well in the future. Very bullish share since listing.
Triangle Breakout in Marksans PharmaNSE:MARKSANS has given a triangle breakout on a shorter time frame. I am using 4h candles here as I believe this is the best time-frame to see this correction coming to an end. We can clearly see a clean breakout of the triangle. A stop loss can be kept at 110.
Indoco Remedies TriangleNSE:INDOCO is forming a triangle and current levels are good for bottom fishing. Keep a stop loss at 310 and one can go long here, alternatively one can wait for a confirmation of breakout of the triangle.
Rajratan Global Wire Bottom FishingOne can do Bottom Fishing in NSE:RAJRATAN at these levels. A stop loss at 720 can be observed. 850-860 would be the first resistance from here. Good risk to reward ratio. Go Long.
Nasdaq Breaking DownLook at the Lower High formations in this chart. This is a clear sign of a downtrend. One should be very careful in the market when such trends appear because there are only 3 trends in total. Markets can either be Bullish, Bearish or Sideways. Nasdaq has gone into a bearish trend and one needs to be very careful as US markets and the economy itself is tanking. Hence, this broader view gives one a clear idea as to what needs to be done right now.
This is a bearish market when it comes to US. Be careful as the impact of US is normally felt all across.
KPR Mill Weekly Chart StructureNSE:KPRMILL has given a weekly chart structure breakout and a stop loss at 756 can be held for this share. We are looking at a good end to a long consolidation and hence, decent returns can be expected from these levels.
Bosch on the verge of a monthly breakoutNSE:BOSCHLTD is on the verge of a monthly breakout and the chart looks very strong. A little bit of nudge and the downward sloping line would be broken. This should end a long consolidation for the stock. Keep it on your radar. Breakouts like these can deliver enormous returns in just a few year's time.
Eveready Industries re-test of breakoutNSE:EVEREADY has retested its breakout level and if current levels are held, it can be a good accumulation opportunity. Expect targets of 460 while a stop loss in the range of 370-385 can be maintained. Go Long if levels are held.
JSW Energy at Life-time HighNSE:JSWENERGY closed at life-time high. One can go long here with a stop loss at 390. Power sector is in good momentum and other related business are doing good as well. Strong tailwinds. New ATH.
Canara Bank Rally ContinuesNSE:CANBK has given a solid breakout and a stop loss at 365 can be followed. PSU banks are looking strong and hence, you should hold this one with discipline. PSU banks are leading the current rally. Canara Bank also gave a strong monthly chart breakout a few months back and now is back in strong momentum.
Bank of Baroda BreakoutNSE:BANKBARODA has given a solid breakout and a stop loss at 210 can be followed. PSU banks are looking strong and hence, you should hold this one with discipline. PSU banks are leading the current rally.
Ship-building companies in a trajectory of their ownNSE:MAZDOCK has out-performed its peers NSE:COCHINSHIP and NSE:GRSE since the start of 2023. However, all 3 stocks have out-performed the market. These 3 have created significant wealth for investors. Fundamental triggers are plenty for these companies. Defense sector is looking very strong and one should definitely keep an eye on these 3. Order book is also very strong.
