Century Textile is a good buying opportunity at CMP- 1050. It is taking support at 6 months long trendline and a previous resistance zone which is now acting as a support zone. Expected Levels - 1150, 1210
Asian Paints has been moving in an uptrend forming a series of higher high and higher lows. Currently it is taking support at a 5 months strong trendline.
It is a good buy at CMP 1100. Target 1180, 1220
JK tyre broke an important resistance zone 2 weeks back with good volumes. Now it has retraced a bit and is inching towards its breakout levels. Retest zones are always the best area to enter as there is minimum risk at this entry point. Its taken a shape of cup and handle pattern.
I would suggest to enter half qty now around 165, and rest if we get a chance to...
Nifty 50 after a sideways consolidation has given a breakout in the hourly chart yesterday. Its primary trend has been up, forming a series of higher highs and higher lows. Any dip would be a buying opportunity.
Buy in case it corrects to its nearest support SL 9369. CMP 9430
BGR Energy has been in strong uptrend forming a series of higher highs and higher lows. Last two days there has been good upmove again after some price and time retracement with good volumes. A important resistance zone was broken yesterday which is sign that bulls have regained control. The stock has formed a good rounding at the bottom ( Rounding Bottom),
After making a bottom in the Dec 2016, Zeel has trended upwards. Yesterday it opened gap up and formed a strong green candle at an important support zone with great volumes. It is good good buy at current levels but would enter upon confirmation at the break of yesterdays high just to make sure that the bulls are in control.
Buy above- 524, SL 493, Target 553,...
Eicher Motors has been in strong uptrend forming a series of higher highs and higher lows. It has broken an important resistance zone yesterday with good volumes. It is above all the important Moving averages. It is buy at CMP with 26000 as SL
Union Bank after forming Double Pattern (W Pattern), made a series of higher highs and higher lows in the weekly chart, confirming a change in trend. Price has also broken an important long term trendline with good volumes last week , which would have been a perfect entry around 174 levels.
Union Bank is a buy near 174 with a SL 154. Targets 210, 250.
Not a buy...
Nifty has formed a big Bearish Engulfing candle on Friday in the daily chart engulfing the last 6 candles, which makes it all the more effective. But, this candle has been formed at the Gap support.
My opinion is that even if the low of the bearish engulfing breaks, I would not short it as such gaps do work as support and I will not be comfortable shorting it...
Tech Mahindra has been forming Lower highs and equal lows in the weekly charts lately. It is also trading below all the major Moving averages making it a weak stock technically.
One important think to observe here is the speed and the time which the bears have taken to bring the market down is less than what bulls are taking to bring it up, which generally...
Gail has broken important resistance zone last week with volume. It is good positional buy with 397 as Stop Loss. Half qty can be entered at CMP and rest in case it takes support at the breakout levels.