A quick guidance on some past recommended stocks:
Hindalco: Stock seems to be forming an inverted H&S pattern. Its near its 200 DMA support line.
Also a 'hammer' today confirms bullishness at the support line.
With existing positions, add new above 210. Had recommended buy @ 197 before. Stoploss for all positions should now be placed at 198.
IFCI Ltd: Had written about it to break the channel above. - a buy above 58.5
The stock broke the lower channel :) --- an example of never to enter into a trade without a breakout confirmation. The good volumes point towards more downside. (PS: This is not a reco to be short)
Sun Pharma:
Had recommended it ABOVE 454 breakout some days back. Unfortunately (or fortunately) the stock did'nt break out but slid further.
For now, the stock could get some support at the trendline and the 200 DMA subsequently downward.
Buy ABOVE 445. Target 475. Stoploss @ 410
The rising RSI & Stochs indicators point out to the bullish uptrend.
DLF:
This one had given a good trade last month. But the fall has too been faster :)
Now as the prices approach the supporting trendline, the chances of another quick trade arise. By the time the stock bounces back, the RSI will be oversold enough. Refer to the chart for details.
Bajaj Auto
Another stock where breakout did'nt happen as expected.
Cairn India
This is a new one. A Good bounceback from trendline support and 200 DMA supportwith spurts in volumes today. Refer to the chart for specifics.
The broader markets have paused a bit at the 19100 levels as expected. The movement from here would be interesting to watch out for. Coz. it seems that the IT pack have been hammered a lot in the past 2-3 sessions and now some 'value-picking' can start off.
Downslide from here can see 18800 levels very soon.
Till then, its the individual stock action that will count.
Hindalco: Stock seems to be forming an inverted H&S pattern. Its near its 200 DMA support line.
Also a 'hammer' today confirms bullishness at the support line.
With existing positions, add new above 210. Had recommended buy @ 197 before. Stoploss for all positions should now be placed at 198.
IFCI Ltd: Had written about it to break the channel above. - a buy above 58.5
The stock broke the lower channel :) --- an example of never to enter into a trade without a breakout confirmation. The good volumes point towards more downside. (PS: This is not a reco to be short)
Sun Pharma:
For now, the stock could get some support at the trendline and the 200 DMA subsequently downward.
Buy ABOVE 445. Target 475. Stoploss @ 410
The rising RSI & Stochs indicators point out to the bullish uptrend.
DLF:
This one had given a good trade last month. But the fall has too been faster :)
Bajaj Auto
Another stock where breakout did'nt happen as expected.
Cairn India
The broader markets have paused a bit at the 19100 levels as expected. The movement from here would be interesting to watch out for. Coz. it seems that the IT pack have been hammered a lot in the past 2-3 sessions and now some 'value-picking' can start off.
Downslide from here can see 18800 levels very soon.
Till then, its the individual stock action that will count.
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