Panama Petro closed the week at an all time high. The stock has broken above the long term resistance trendline (check the namesake on the chart) and managed to close above it for the first time on a weekly basis. Stock looks good for significant short to medium term gains and can be considered for positional trade/investment.
Since the stock is at an ATH, we...
Sesha Paper managed to clear a very strong weekly resistance (~195) and closed above it this week. The stock has managed to close at a 6+ month weekly high with impressive volumes (esp on the daily chart). In my view, upside momentum should continue in the short term atleast and the stock is a great trading buy.
Buy Seshasayee Paper at CMP
SL: 194 DCB
LG Bala has been gradually moving up since June 2021 in a rising channel as shown clearly on the chart.
Inspite of a sizeable correction in the market, LGBBROS has maintained the sanctity of this rising channel and has tested and held this weekly channel support multiple times.
The stock has finally managed to give a short term breakout on both the daily and...
Syngene seems to be breaking of an 18 month long (since September 2020) consolidation phase. Apart from a brief weekly excursion As the chart shows, Syngene has managed to close above this strong resistance level with reasonable volumes generating a strong weekly buy
Buy Syngene at CMP and on declines to 630
SL 620 DCB
TGT 740 and beyond
PS: stock faces a...
After spending most of 2021 consolidating between 45-60, Indorama Synthetics finally broke above 60 in early January 2022. It managed to briefly breach 90 before correcting heavily due to the war. In the current correction Indorama Synthetics retested the earlier breakout level of 60 which has now acted as a strong support.
Post another 4-6 weeks of...
Stock has closed at a 4 month weekly closing high with considerable volumes. In doing so it has breached a long term resistance level of 70.50 and closed above it.
Thomas Cook can be bought at CMP and on declines to 68
SL: 64 (3 week low)
Tgt: 87 (November 2021 high) and 104.
ATH closing on a daily and weekly basis. Breached and closed above the 4 year old Resistance TL with massive volumes,
all set to ride higher in the short to medium term.
Buy GAEL at CMP 238.45 and on declines to 225
SL 215 DCB
Orient Abrasives managed to close the days trade at 36.35. This is the highest weekly closing for this stock in almost 4 years (44 months).
The stock has closed above its historical weekly resistance of 34.4-35 (dark red line on the chart) with massive volumes (both daily and weekly)
One can go long in this stock at CMP and buy on pullbacks to 34. We can expect...
West Coast Paper gave its highest weekly close since January 2019.
The stock has decisively crossed and closed above the long term weekly resistance level of 265-266.
We also have a potential Weekly Golden Cross coming up next week (golden coloured MA crossing the green coloured MA)
At the same time, overhead resistance at 295-298 (blue TL) can possibly lead to...
103+ daily/weekly close after 2+ months. Nice volume and price bump at the close on Friday. Ready to retest highs made earlier this year
Target: 117-120 (short term) and 142-185 (medium term - fib based)
SL: 98 DCB
Tejas Networks made a post crash weekly closing high of 218.7 in the week ended 15th February 2021. Since then, the stock has been trading in a tight range between 160-200. The stock finally broke out of its range this week with a weekly close above 200 - the highest weekly close in 4+ months.
One can buy...
Ipca Labs has moved out of a 9 month long consolidation/decline as shown by the chart.
Ipca Labs can be bought here as a medium term trade/investment.
Targets : 2450 (prior high) and higher (open target since stock will be in new territory)
Stop Loss: 2085 WCB (3 week closing low is 2089). A deeper but more logical SL is 2045 WCB.
Chart is self explanatory.
Buy TVS Srichakra strictly for investment at CMP. Multiple breakouts in play alongside the first weekly close above 200 WMA (forest green colored MA on the chart) in many years.
Stop Loss : 2090 WCB
Target : At least 2800.
After making a weekly closing low in May 2020, MAXVIL started moving up in a well defined rising channel as shown in the chart.
The stock first broke above its rising channel resistance in the week ended 24th May 2021 by closing at 72.5. The stock finally made a weekly closing high of 77 off in early June 2021 before sliding back inside the rising channel....
After making a weekly closing high at 3172.25 during the week ended 27th August 2018, VMART entered a 3 year long sideways/down period where the stock had its upside capped at 2900 on a weekly basis.
As the chart clearly shows, the stock has undergone a 3 year long rounded consolidation phase between 1600-2900 (ignoring the noise). VMART has managed to break out...
After spending all of 2021 stuck in a 120 Rs range, Centrum electronics has finally broken out with huge volumes. The stock has broken and closed above an 18 month old resistance trendline (red horizontal trendline on the chart) and it has also decisively broken through the 200 wma for the first time in many years.
One can go long in Centrum Electronics at CMP...
The CNX Realty Index was created in January 2007. The index began with a base level of 1000 and made a quick high of 1878.45 in January 2008 at the peak of the 2003-2008 bull market.
The great crash followed and the CNX Realty Index collapsed to 161 (-90 pct ) by March 2009. This was followed by a strong 6 month long pullback rally where CNX Realty peaked at 630...