Article

5 short term trades

07 Aug 2019 Gautam Upadhyaya

Short term calls are the buy/sell recommendations generated on the basis of technical and derivative data points with a trading horizon of 2-5 days. The objective is to capture stocks displaying strong momentum or a short-term reversal in trend. Short term calls will be generated in cash and F&O segments. The calls should be executed when the underlying price is quoting within the mentioned range.

1) Reliance Industries Limited - Buy

Stock

Reliance Industries Limited

Recommendation

The stock has formed a large bullish engulfing candlestick pattern and has witnessed a strong bounce from its 200-day EMA backed by a surge in volumes. Derivative data indicates fresh long formation.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash)

1100-1110

1325

960


2) Tata Power Company Limited - Buy

Stock

Tata Power Company Limited

Recommendation

The stock is on the verge of a flag pattern breakout on the daily chart and has taken support along the rising trend line. It has also shown positive momentum on the weekly MACD histogram. Derivative data indicates fresh long formation in the stock.

Buy/Sell

Range

Target

Stop Loss

Buy(Cash)

75-76

91.5

65

3) ITC Ltd - Buy

Stock

ITC Ltd

Recommendation

The stock has witnessed a positive bounce from its support levels on the weekly chart (89-period EMA). It has also managed to give a close above its 200-day EMA on the daily chart. Derivative data indicates fresh long positions in the stock.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash)

Rs280-283

Rs324

Rs254


Research Disclaimer

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5 short term trades

07 Aug 2019 Gautam Upadhyaya

Short term calls are the buy/sell recommendations generated on the basis of technical and derivative data points with a trading horizon of 2-5 days. The objective is to capture stocks displaying strong momentum or a short-term reversal in trend. Short term calls will be generated in cash and F&O segments. The calls should be executed when the underlying price is quoting within the mentioned range.

1) Reliance Industries Limited - Buy

Stock

Reliance Industries Limited

Recommendation

The stock has formed a large bullish engulfing candlestick pattern and has witnessed a strong bounce from its 200-day EMA backed by a surge in volumes. Derivative data indicates fresh long formation.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash)

1100-1110

1325

960


2) Tata Power Company Limited - Buy

Stock

Tata Power Company Limited

Recommendation

The stock is on the verge of a flag pattern breakout on the daily chart and has taken support along the rising trend line. It has also shown positive momentum on the weekly MACD histogram. Derivative data indicates fresh long formation in the stock.

Buy/Sell

Range

Target

Stop Loss

Buy(Cash)

75-76

91.5

65

3) ITC Ltd - Buy

Stock

ITC Ltd

Recommendation

The stock has witnessed a positive bounce from its support levels on the weekly chart (89-period EMA). It has also managed to give a close above its 200-day EMA on the daily chart. Derivative data indicates fresh long positions in the stock.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash)

Rs280-283

Rs324

Rs254


Research Disclaimer