NikunjPurohit

NikunjPurohit

Breakout!

NikunjPurohit Updated 

1) Resistance at triple top 2) Bank is unabale to show credit growth in last 5-6 quaters 3) Though it trades at less than book value , trend has been negative 4) BN bearish likely to pull it back to 107 levels 5) Moving in a channel

NikunjPurohit

1) Not able to break 580-- bearish divergence 2) Bank trade at 3.4x P/B and has been showing good performance 3) It is likely to show dip in price due to BANK NIFTY bearish view 4) Any dip should be used to buy

NikunjPurohit

1) Bad results - even retail vertical showed pressure 2) resistance from trendline 3) CNX PSU Bank and Bank Nifty showed bearish signal on Friday

NikunjPurohit

1) Oil at important support levels. Likely to breakdown. OMC outperformed market when other indices were bearish 2) IOCL Likely to breakout at 170 3)GRM in Apr - Jun 2018 quarter was 10.21$ as compared to $4.32 yoy. Results declared on Friday were very good 4) On monthly chart, price faced resistance at 61% fibonacci level 5) RSI divergence with double bottom at INR 150

NikunjPurohit

1) Bearish Divergence on double top--- volatility divergence on Bollinger band also -- inside bar candle 2)Difficult to give same volume growth in next quarter+ 3) SL -1767 Risk 1) bull run stock- will face resistance in falling more than 5-6% as significant money is hiding in it

NikunjPurohit Updated 

Oil prices likely to climb up due to iraq sanctions. Stock has broken weekly support of 82.5. It should fall this week. Target 78 SL-82.5

NikunjPurohit Updated 

Company has been showing strong sales no. yet the stock retraced to 50%. Stock should cross 52wk high levels in few days

NikunjPurohit Updated 

Price just broke the channel. It can move upto 1235 as it broke the channel with huge volume. On fundamental side, reliance still trades at P/E -19x trailing.

NikunjPurohit Updated 

Wipro has been under performing since Jan 2018 while other peers have moved up 20-30%. It is one of the cheapest IT stock. Q4 2018 was bad due to insolvency of 2 of its customer and it had to write off 208 Cr. Growing US economy and Cur ency depreciation will provide tailwind to earnings which will be declared on 20th July. In last 1-2 weeks stock has recovered...

NikunjPurohit Updated 

SL - 260 Target 244

NikunjPurohit Updated 

Stock is getting support at 3400 level. If it closes below 3400, it can go down to 3100. CNX Auto is also showing negative trend. Though price action has been negative but Auto is primary sector of this bull run along with FMCG. Keep small stoploss and avoid carrying position.

NikunjPurohit Updated 

Company has been performing well due to replacement demand from CV sector and lower natural rubber prices. It is also moving in a channel. SL-252. It should probably make new high

NikunjPurohit Updated 

1) Channel breakout both on weekly and daily chart 2) RSI Bullish 3) Strong Volume 4) Merger with indusind bank in the near future

NikunjPurohit

Stock has been facing resistance from trendline; also on Weekly chart stock has failed to cross RSI 60 for past 18 months; If market sentiments remain week tomorrow as NIFTY is also facing resistance at 11,400. MCX should see a sharp fall SL 890 - 1st target 846 Risk - 1) News on merger with NSE 2) MCX has been showing strong volume so quaterly results were...

NikunjPurohit

BATA has shown a good result with 37% growth in bottomline. If you look at weekly chart, it is moving in a channel. Stock likely to retrace 61% levels after which it will resume upward trend

NikunjPurohit

Federal Bank has been moving in a channel . Today it saw a strong pull back due to good result and it looks undervalued. Buy if it crosses channel and 200MA with volume

NikunjPurohit

RSI showing divergence which is a sign of breakdown. This fall is due to increase in supply from Libya. In my opinion oil should retrace back from 71$ or from 67$ and make new high in next 3-4 months. WINTER IS COMING!