HDFC bank has traded at the support area of the 680. We have seen on the charts that stock is in a strong uptrend and hence our focus is to look for trades on the buy side. Hence, if the stock rallies towards the support we will be looking to buy into the stock. Banking sector has been under-performing nifty future, but on the charts we came to know that the selling was due to the technical ... [Continue Reading]
Short term Stock: Grasim is trading at support, Buy on dips
Grasim industries is another stock that is trading at a strong support level and is ready for up move, Stocks on weekly chart shows a up trend hence we only focus on buying opportunities. Recently slow stochastic has given a crossover on weekly chart so we are expecting strong buying here. Also the chart shows that there is support at 2929, which was a resistance previously. But as price action is ... [Continue Reading]
Short term Stock Trade: Buy ABIRLANUVO on Pullback for target 1135
Aditya Birla Nuvo is looking bullish after the recent breakout above the resistance of the range. we see solid buying opportunity int he stock for short term gains. A pullback must towards the support zone (previous resistance) must be the area of accumulating this stock. So buy ABIRLANUVO in 1020 to 970 range for short term target of 1135. Look for weekly chart below: Stochastic indicator is ... [Continue Reading]
Technical Analysis: Buy FMGOETZE for short term, Trendline support
Federal-Mogul Goetze is a mid-cap stock and has been in a strong uptrend since 2009 and I believe it to continue for some time. This stock is taking support on a advancing trend-line, as I see the weekly chart sock has already approached trend-line. So its a buy recommendation on this stock for short term. Trading volume of last session, were much higher than its monthly average. Higher volume at ... [Continue Reading]
Trade Setup on Piramal Health, Short sell PIRHEALTH Future
Trading idea based upon Fibonacci extension level, stock is Piramal Healthcare (PIRHEALTH). On daily chart we have seen the extension level acting as resistance. Also a sell crossover was seen on stochastic indicator around 80 zone, stock was already overbought. As on chart 138.2% Fibonacci extension level, 528 must act as resistance in short term. If you look at futures open interest data for ... [Continue Reading]
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