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
Like all sugar stocks, Balrampur Chini has also given a big breakout. Keep a stop loss at 390 and enjoy this up move.
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).
Marico has shown a small rebound from it s support and can continue its upward journey. However, this may or may not happen. So we need to wait and watch this situation right now.
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.
Bajaj Finance has taken support at its 200 Day EMA and it looks like a great zone to add to this stock right now.
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.
Alkyl Amines has respected its support line and should therefore, hold these levels and maybe even give an up-move. If you have fundamental coverage on this stock or were planning to buy it, it can be a great zone to buy into this company.
LTTS looks like a very strong chart on technical basis. It is also a fundamentally strong company. I have covered it extensively on my YouTube channel in a Stock Analysis video. It is also one of my largest holdings. I remain bullish and a deeper stop loss of Rs.4900 can be followed for short term trades. Gains of 10-20% should be on the horizon in the coming...
Next Leg of growth in Mayur Uniquoters should come as the stock breaks its 2018 high to claim a new all time high. Stop Loss is marked. Hold for 2-3 years for 100% + returns
Meta (Facebook) has respected its support of $300 and this can be a good buying zone for targets of previous all time high in the year to come.
The rally in Vodafone Idea looks like a sustainable for the first time in months. It has made a higher bottom and is moving upwards. Targets are marked and this stock has already been discussed in a chart analysis special on my YouTube channel.
Bank nifty should find support at current levels, with 34,500 acting as a major support.
With Friday's correction, it seems a bit obvious that the markets are not going to get ultra bullish in the near term. Hence, I feel the markets are likely to become range bound.
Sequent Scientific is in Animal Pharma API business, it is a very strong player in a relatively small industry. The stock is currently at its 61.8% retracement level. The stock should take support here, however, expect a time wise correction now in this counter. I remain Neutral but this can be a good accumulation zone if the levels are held.