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Today positive breakout seen in JK Tyre & Industries, which broken above 200DMA and 6 month old trend.
Currently closed at 153.5, if stays strong above 154 it can reach 200+ level in short to mid term.
Keep stop loss at 145 on closing basis.
Yes bank has taken support at 307 4 days back and now seems to be moving upwards. Also have crossed 200DMA today which is strong sign being bullish.
One can add this to profile keeping stop loss as 307 and look for 375 as target which is previous month high.
Considering stock crossing 200DMA is very strong signal to buy, NMDC seems doing so whith positive close on last 2 days.
However seeing at RSI near 70 can push stock to lower levels which I think will be good entry.
Once can look to add 50% of capacity now and wait to see if it comes to 125 level to purchase remaining.
Next immediate target would be 138 and ...
PVR Ltd is taking support at 200DMA and bulls are seen pushing it up on recent close. The script is at the top of its current trend and made high of 1436.05 and closed at 1421.20.
Current resistance zone between 1430 and 1446 which need to be broken on daily closing further up move.
I feel, Aggressive traders can think of this stock once it is above 1430 and ...
Jyothy Laboratories is taking support at 200DMA also RSI is crossing above 40.
However I feel the trend should break 369-378 trend channel to find momentum.
Once it sustains above 378, first target would be 402 and further up move can give next target 425. There will be some resistance at 402.
Since our previous target of Ultratech Cement reached perfectly. Now 4530 will act as resistance which is 6month high tasted in May 2017 and 4270 will act as support which breached recently and it may try to taste same before crossing 4530.
One can keep this in account keeping 4270 as Stop loss for 4930 target.
Next 3/4 days are crucial for Reliance to decide on next level whether it will come down or move above current trend line.
Currently RSI is t 70 which had resistance in past, hence if it sustains above 900 script will continue its form.
However if RSI resisted then stock will come back to 825/830 level before retrying.
Any thoughts people?
Since 200DMA crossed by company it has upside till 4140.