Indian Power and Energy sector is in a bull run of its own and we are seeing several stocks in this sector that are performing well. IEX also looks really good with a wedge formation. Wedges are essentially neutral patterns made up of a resistance and a support line. Breakout on either side should enable you to take a position. Since this particular stock and the...
HDFC AMC has been one of the weakest charts/stocks coming out of the covid induced correction. I am hoping that the current levels can be held and it can perform in the future. However, it remains a wait and watch situation for me. NEUTRAL on this one.
Praj Industries has broken out after a very long consolidation. Keep a stop loss at 380 and the stock should double in the next 1 year. Praj is part of my fundamental research as well and the story around ethanol is picking up more and more steam.
Polycab has broken out of its long time range and the stock can give tremendous returns from these levels. Keep a stop loss at Rs.2530 for this one and the stock should show tremendous gains in the coming weeks in my opinion. Very clean breakout.
Tata Teleservices has settled AGR dues case with the Government of India by issuing shares at Rs.41.5 and hence, I feel there should be a deep correction in this stock. I have marked the addition zones (where one can pick stocks and add to their position).
Adani Enterprises has broken out of a consolidation range. The Stop Loss can be Rs.1760 and one can go long in this trade. This stock is in a bull market of its own and therefore, I believe one should stay invested in this for long term.
Adobe has been hammered recently after the forecast of lower growth in the stock's earnings. However, it looks like the correction has been very sharp. There are chances that it might take support at current levels of $500 and this can be a good accumulation zone. I have also marked another lower level if this level is broken which will be held as per me.
A big breakout in Talbros Auto post the news of Dolly Khanna and Vijay Kedia buying into the script. Keep Stop loss at 420 and let's see the targets and where it ultimately consolidates. Can be a good medium term trade.
2 wheeler space has been hammered by the stock market. Hero and Bajaj are both under-performing the market. However, from the current support level, Bajaj has shown strength. Hence, one can look to accumulate it for targets of Rs.3800
Nifty has broken its downward momentum resistance line but 17600 is still a resistance that needs to be crossed before forming a bullish view. However, it does feel like the correction is over. If the resistance is not broken, then one can expect a range bound Nifty for sometime. Range: 16700-17600.
Adani Total Gas is at Support levels. I feel these levels should be held, if we see strength in this counter at these levels, sky would be the limit. This stock is in a very very strong bull run of its own. Hence, one should not ignore this setup. Accumulate at current levels and follow the stop loss, which is also the support line (line drawn).
HDFC bank has taken a beating like most banking stocks and is at its support. The only problem is that it has broken below the 200 Day EMA and if it doesn't climb up, it can go in for a very long correction. Hence, it is a wait and watch situation right now in this one.
RBL bank has given a breakdown on charts and the stock has been under pressure for a very long time already. Avoid any long positions here until there is a clear upward movement. Shorting this one with a stop loss at Rs.165 looks like the best thing to do.