Prince Pipes looks good to move towards 800+ levels soon considering the breakout of falling channel with significant volumes. FII's have increased stake in last quarters. RS is near 0 Line so R:R is good. SL can be a small 8-10%
This could be a counter for long term.
Tinplate forming a rounding bottom and a saucer pattern on weekly time frame. Considering FII's have increased their holding, this could move upto 450 levels which is a return of more than 50%. Price action in daily time frame looks good.
Hindustan Zinc has a swing trade set up of upto 25-30% from current levels as it is near the lower end of the long term channel. RS 55 is +ve and long term RS(123) is in the process of being +ve. SL can be 295. Offers good R:R.
Note: Market conditions are volatile, please trade with SL and have less quanity.
Alkem is taking support at last breakout on weekly timeframe. Volumes were significantly higher since Pharma sector will now be flavor. This could give around 15-25%(depending on market condition.) RS is still +ve and RSI is in oversold zone. We can see a pullback.
SL should be around 3100(WCB)
HDFC Life is looking weak as it is forming head and shoulder pattern near 200 EMA. If breakdown is confirmed then a trade with 1:3 (R:R) can be taken.
I would wait for RS in 2 hour time frame to turn negative before taking trade.
Motilal Oswal was +ve in a market where there was correction all round. Forming ABCD harmonic triangle pattern and also RS is +ve. If market conditions improve in the coming days, this could give returns of upto 40-50%.(Targets might look high but are achievable with 12 month horizon.)
Please trade with Strict SL here of Rs. 850 on DCB.
Sterlite Tech can be a good hold for 18-24 months timeframe. Technically looks like an inverted head and shoulder on weekly time frame. It can consolidate for a few more weeks in the range of 250-275 but breakout above 300 can be huge for this scrip.
Fundamentally, the big players have already made positions here ROE is 14% and Sep results were good. With the...