Dena Bank is showing bullish divergence with respect to money flow index. Also the price is in a tight range since August. It may break from the range soon. Can it be a breakout? Please share your thoughts.
Peninsula Land can be bought at CMP of 18.75 with minimum target of 21.5 and higher. Stop loss can be placed at 18. The stock had run recently with high volumes and made a high of 23.5. However, during the correction the volumes were low. This indicates that the stock has more chances to go higher than lower.
PNB had opened gap up on 10th July. Yesterday it closed close to the gap up open price. Seeing the volumes from past 2 days it is more likely to fall today to cover the gap. We can short below 149 for the target of 144. Stop loss can be 152.
Eveready Industries had a good run in 2017 till July. However, it has corrected sharply after that. Current price is close to 50% retracement of the entire run from December 2016 to July 2017. It is also near 200 EMA which might act as a support. The RSI is in deep oversold levels. I feel it is a good opportunity to buy the stock at current price with a stop loss...
VRL logistics has formed a symmetrical triangle pattern with volumes drying up. Theoretically it can break upwards or downwards. I feel that it has more reasons to break upwards. The macro factors like GST factors and election in Karnataka next year might be positive for the stock in coming months. It can be bought now or after the break out with a tight stop loss...
Bodal chemicals has formed a flag pattern. The stock can be bought now with the stop loss of 160 and target of around 225 or higher. One can also wait for flag breakout for confirmation to preserve the capital.
Nifty has shown some correction on weekly basis everytime the RSI crosses 75. It didn't follow this only in 2014. Currently the RSI has crossed 75 for a second time in the gap of few weeks. A small correction of around 500 points is likely.