M&M finance is trading at a critical level of 132, which is a confluence of 20 and 50 EMA. Also, it is trading at the lower end of rising channel, from which a bounce can be expected. Keep a strict stop loss between 125-127 for first target of 142, translating into a potential upside of 6%
Also, while the earlier breakout was with high volumes, the fall was made...
Kotak is in a rising channel and is trading above the 21 EMA, indicating strong bullish momentum! Also, has witnessed a golden crossover on the hourly chart! Longs can be initiated with a SL of 1310 on closing basis, for target of 1380 - 1400 in the next few trading sessions !
Airtel has been consolidating between 550 and 590 odd levels post the recent rally and is currently near the lower end of the consolidation range. Buy at current levels with strict stop loss placed between 548-550 ! Resistance is at around 592 levels!
Sun Pharma is in a rising channel and longs can be initiated with strict stop loss between 476-478 levels. Also, it has been consistently trading above the 20 DMA in the past few sessions which confirms the bullish trend! Upside hurdle at 491 and then 500!
IGL has been trading consistently below 20 DMA for the last few sessions, depicting bearish trend.
However, it has now entered key support/ demand zone (397-415) on daily charts, where buyers may emerge. Wait and watch before initiating further action.
Silver has decisively broken above the bullish flag pattern levels as highlighted on the chart and is now approaching major hurdle at $18.9. A break of this resistance, could push silver higher to its next resistance placed at $21. To be keenly watched!
PEL has seen a massive rally post the crash in March! Now, it is continuously trading above 20 DMA of 1425 and has a strong resistance at 1450 and then at 1500. Decisive fall below 1425 opens up shorting opportunities which can trigger a correction of 5-10%. Alternatively, decisive movement above the DMA, followed by break of hurdle at 1450, can take the stock all...
