If Nifty sustains above 16700, I feel one can be confident that it will continue to move upwards and mark an end to this long 8 months correction. A lot of people feel that Nifty will get stuck at the downward sloping resistance line that it has already respected thrice but I do not believe that. In my opinion, it can retest recent lows only from current levels...
The stock has given a good breakout on daily and weekly levels. Keep a stop loss at 920 and go long in this counter.
Adani Ports Bullish Chart in this Market Target 872 Stop Loss 706
Even in this carnage, one stock has managed to inch upwards and looks good at current levels. Follow the stop loss at 900 and initial target can be the old all time high (1050-1100).
Xelpmoc has been discussed extensively already, it is one of the few micro cap stocks where I have allocated a significant chunk. The stock went through a big boom phase and has now settled at a place where it can sustain and hold as support. It will be interesting to see how long it can stay here, I am very comfortable if the stock decides to spend some more time...
Syngene looks really goo and a stop loss at 610 can be followed for a good 20-40% move.
GMDC recently gave a major breakout and one can follow a stop loss at 190 and go long in this trade. Follow the weekly chart.
Adani Gas looks good even in this correction. A stop loss at 2350 can be followed for the same.
Poonawalla Fincorp has followed up on its initial breakout and now one can continue to go long here with a stop loss at 290.
Solar industries looks very bullish and one can go long here by keeping a stop loss of Rs.2850
Like all other major hotel stocks, Lemon Tree has given a solid breakout as well. Go long and keep the stop loss at Rs.66
A long consolidation may be ending in IRB Infrastructure. Buy only after breakout and make the resistance your stop loss after the breakout.
Intellect Design looks really good at these levels and a stop loss at 815 can be maintained as the stock goes for a new lifetime high.
Angel Broking has retested its breakout and one can go long in this counter by keeping a stop loss at Rs.1590 as it still trades at All time high. I do not expect bumper returns from this level as initial breakout gave plenty, but a good consolidation at these levels can mean that the stock can still do well in the coming months.
After a long consolidation, VIP Industries has given a breakout and one can keep stop loss at Rs.620 and go long in this counter. A deeper stop loss has been given to handle the current volatility in the market. Expecting good run in this counter in the next few weeks.
The share of HDFC bank has been an under-performer for quite sometime now. It even broke a very crucial support line. But it has regained that line in style with fundamental news flow supporting the technicals. As long as it stays above the line, I see no issues in this stock.
CreditAccess Grameen has given a breakout and one can keep stop loss at 755 for an initial target of 844. Further targets will come as and when the stock moves higher.
Avadh has continued its upward journey and one can now keep a stop loss at Rs.660 and go long in this counter.