NSE

Steel Sector May See More Downside: Demands Low, Jindal Steel Hit by Mines closed in Bellary

by Bhaveek Patel · 0 comments

in NSE

Jindal Steel & Power Ltd. is the flag ship company of O.P Jindal group. This company was listed on NSE on 29 December 1999, looking at the stock chart we see that the price action was showing the bullishness on the stock and we are sure that the long term trend is likely to continue. At the CMP (current market price) we see that the stock is trading in the range and there should be a breakout soon in the direction of the daily trend, as consolidation cannot be ruled out for the longer period of time. We recommend traders / investors to enter the long trades above the upper band of the range i.e above the 750 level for the targets as 870 and 950 levels and place the stop loss below 600 level. The technical indicators are in favor of the trade and suggest to enter only long (buy) trades.
Fundamentally this is very strong stock and the company valuations are very good even at the current levels. The steel sector is going to witness very strong growth in the coming years.
Jindal Steel & Power

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Cipla is Safe Heaven Stock, A Must have Stock in Investment Portfolio, Buy CIPLA on Dips

by Bhaveek Patel

Cipla Ltd. being one of the largest pharma company has achieved leadership in this sector in India as well as in countries like US, UK and European region. The stock performance of this company attracts almost every fund manager, this is also my favorite from the pharma pack. Looking at the daily chart of CIPLA we see that the stock has been trending in upward direction, and we don’t see any barriers in this trend .....

Buy DRREDDY Stock for Long Term Target as 1850, Support Seen on Weekly Chart

by Bhaveek Patel

Dr. Reddy’s Laboratories Ltd. was listed on NSE on 30 May 2003 since then the performance of this company has rocked this entire pharma sector. Looking at the daily chart we see there is some bearish pattern developed in this stock and we are sure that weakness is likely to come here and pull the stock southwards. Technical levels suggests that there is no support until 1360 level, so our recommendation is to sell this .....

Hero Moto Corp is in Uptrend: Traders Recommended Buy on Dips, Strong Auto Stock

by Bhaveek Patel

HEROMOTOCO a leader in 2 wheeler automobiles segment is largest 2 wheeler manufacturer and seller. It is one of the flagship company of Hero Group, India. Looking at the charts for stock performance we see that the company has shown a strong growth and hence the stock follows. Technically this stock is very bullish and for short term its in consolidation phase, for the short term view one can trade short on this stock as .....

Is ABAN Ready for its next Bull Run? Buy now For Long term Target as 890, Bearish for Short term

by Bhaveek Patel

Aban Offshore is one of the oldest drilling companies of India. This company drill wells for the oil companies. The stock has outperformed significantly well over the past 10 years from the Rs.4 per share in 1999 to Rs.5400 per share in early 2008, since then the stock was on down trend making a low of Rs.221 in march 2009. We are very sure that in the near term the liquidity will be come back .....

JP Associates is in Strong Down Trend, More Selling Expected Below 74 Levels

by Bhaveek Patel

Jaiprakash Associates Ltd. a leader in construction sector, also it is one of the oldest company in this sector that is listed on NSE. Its shares began trading on 7 November 1994 on NSE. Also JPASSOCIAT has given very good dividends and bonus shares too, the stock performance of this company has been very impressive. But the current scenario is very different and the stock seems to be in downtrend, so we will be look .....

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