HDFC is one of the largest home finance lenders in India, the company was listed on 23 October 1996 on NSE. HDFC is also one of the major lender for housing finance, looking at the daily chart we find that HDFC has always found the support at 100EMA on weekly chart, same situation is currently present on the weekly chart as the price action is near the 100 EMA and we are waiting for the prices to ... [Continue Reading]
Its Bad Time for Capital Goods Stocks, BHEL may Weaken in near Term, Short BHEL for Target 1600 Level
BHEL being one the largest electrical equipments manufacturer in India it also manufactures turbines for power companies. The stock price of BHEL suggest that there is more downside possible from current levels. So traders can go short on BHEL future below 1900 level and hold it for the target of 1750 and 1600. Also keeping the stop loss above the 2000 level. It is important to note from technical ... [Continue Reading]
Buy or Sell Aarvee Denims & Exports Stock, What is Short Term Target in AARVEEDEN
Aarvee Denims & Exports (AARVEEDEN) stock is in a downtrend from the its peak level of 94 to its lower level 49. When we look at the chart we see that the stock has taken the support at 50% Fibonacci retracement level i.e at 49 level so from current levels we see limited downside, while upside projection target can be 69 and then 85 levels. Placing stops few points below the recent low at 46. Once ... [Continue Reading]
Short term target for 3IINFOTECH stock, Bulls must Return, IT Stocks may Weaken Further
3I Infotech was listed in way back on 22 April 2005, this software firm has grown very steadily in past few years time. Also we are expecting this growth to continue for its long term run. When we look at charts its shock is mildly bearish and needs to consolidate in next few months, but if it closes above the 53 level we are going to see the bullish trend coming again in this stock. So for ... [Continue Reading]
Metal Sector Stocks: Hindalco May Outperform Metal Sector in Short Term, Increased Demand Seen
Hindalco Industries Ltd. is largest producer of aluminum in India. The company was listed on NSE on 8 January 1997, However the stock performance is not very attractive in the metal space. HINDALCO stock has made a new all time high of Rs.253 on 6 January 2011, since then the stock has been weakening and we are looking for selling opportunities as long as the price action is below the 190 level on ... [Continue Reading]
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