The stock is on the verge of witnessing a triple bottom breakout on the daily chart. It has also managed to give a close above its 200 period EMA. The stock has also witnessed a bullish crossover on the daily MACD indicator.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
314-316
334
303.5
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
YESBANK
72157
382/218
314
ARTI INDUSTRIES - BUY
Stock
ARTI INDUSTRIES
Recommendation
The stock is in a higher top higher bottom chart structure. It has formed a bullish candlestick pattern on the weekly chart and has managed to breakout from its sideways consolidation. The price uptick has been backed by a smart surge in volumes.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
943-948
992
913
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
AARTIIND
7801
1024/672
857
DR REDDY - BUY
Stock
DR REDDY
Recommendation
The stock has given a given a breakout from a descending trend line on the weekly chart and has also shown good strength on the daily MACD Histogram. The trend and strength analysis indicates that the current momentum is likely to continue further.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
2364-2372
2485
2292
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
DRREDDY
39348
3203/1901
2759
VEDANTA - BUY
Stock
VEDANTA
Recommendation
The stock has managed to give a breakout from its sideways consolidation on the daily chart backed by a surge in volumes. The stock has formed a bullish hammer formation on the weekly chart.
Buy/Sell
Range
Target
Stop Loss
Buy (cash)
296-298
313
286.8
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
VEDL
110772
346/205
279
POWER GRID - BUY
Stock
POWER GRID
Recommendation
The stock is in lower top lower bottom chart structure. It has shown weakness on weekly MACD Histogram. Derivative data is suggesting fresh short positions which are indicated by surge in open interest and decline in price.
Our markets corrected sharply in the week gone by mainly due to uncertainty over global geopolitical tensions and selling by the FIIs which resulted in the index breaking the 22000 mark. However, we witnessed recovery from the low of 21780 in the last trading session and Nifty ended around 22150 with a weekly loss of over one and a half percent.
The cost of natural gas saw a 2.7% increase yesterday, closing at 146.90, as projections of limited feed gas demand and milder weather tempered upward momentum. Despite concerns over a significant storage surplus and reduced demand forecasts for the next fortnight, substantial price shifts were notably absent.