Buy M&M TARGET 960....2 WEEKS
Monday, June 4, 2018
Thursday, March 15, 2018
Market news
NEW DELHI: Fitch today projected India's economic growth to rise to 7.3 per cent next fiscal and further to 7.5 per cent in 2019-20.
In its Global Economic Outlook report, the US-based agency forecast Indian economy to clock a growth rate of 6.5 per cent this fiscal, a tad lower than official estimates by the Central Statistics Office (CSO) of 6.6 per cent. The economy grew 7.1 per cent in 2016-17.
According to Fitch, the pick up in growth is likely as "the influence of one-off policy-related factor which was dragging growth has now waned."
In its Global Economic Outlook report, the US-based agency forecast Indian economy to clock a growth rate of 6.5 per cent this fiscal, a tad lower than official estimates by the Central Statistics Office (CSO) of 6.6 per cent. The economy grew 7.1 per cent in 2016-17.
According to Fitch, the pick up in growth is likely as "the influence of one-off policy-related factor which was dragging growth has now waned."
Stock: MUTHOOT FINANCE
Reco: Buy
CMP: Rs 398
Muthoot finance Ltd. Has been oscillating well within a downward sloping channel since November 2017. The recent Spike occurrence followed by a Bullish Harami formation near the lower bound of the pattern depicts the strength of the support near 360. The recent rebound wave which commenced from this support has impulse wave characteristics which augurs well for a move towards 426 where its 200 DEMA is placed which could eventually see an extension towards the upper end of the channel formation which is currently placed around 440. Traders could ustilise the opportunity to build positional longs with a stop below 374.
Stock: TECH MAHINDRA
Reco: Buy
CMP: Rs 639
Positive sector outlook & the ongoing secular uptrend intact on the monthly scale. The ongoing contraction seems to have witnessed a breakout & the move should commence towards 702 zone. Trading longs with a stop below 620 could be considered to participate the expected momentum.
Reco: Buy
CMP: Rs 398
Muthoot finance Ltd. Has been oscillating well within a downward sloping channel since November 2017. The recent Spike occurrence followed by a Bullish Harami formation near the lower bound of the pattern depicts the strength of the support near 360. The recent rebound wave which commenced from this support has impulse wave characteristics which augurs well for a move towards 426 where its 200 DEMA is placed which could eventually see an extension towards the upper end of the channel formation which is currently placed around 440. Traders could ustilise the opportunity to build positional longs with a stop below 374.
Stock: TECH MAHINDRA
Reco: Buy
CMP: Rs 639
Positive sector outlook & the ongoing secular uptrend intact on the monthly scale. The ongoing contraction seems to have witnessed a breakout & the move should commence towards 702 zone. Trading longs with a stop below 620 could be considered to participate the expected momentum.
Monday, March 12, 2018
Market news
BUY at current levels. One can BUY with a stop loss of Rs 363 for the target of Rs 400/410 levels in short-term.
CASTROL- BUY
CLOSE – Rs 200
TARGET – Rs 217-225
CLOSE – Rs 200
TARGET – Rs 217-225
CASTROL closed the weekly in positive territory. Its outperforming in short term.It managed to hold crucial support of 20 DMA .Its daily momentum indicators are in BUY. Risk Reward is favourable to BUY at current levels.One can buy with a stop loss of Rs 188 for the target of Rs 217/225 levels in short-term.
INDUSIND BANK- BUY
CLOSE – Rs 1700
TARGET – Rs 1750-1790
CLOSE – Rs 1700
TARGET – Rs 1750-1790
INDUSIND BANK closed the weekly in positive territory. Its outperforming in short term. Its also trading above 20 DMA. Its daily momentum indicators are in BUY. Risk Reward is favourable to BUY at current levels.One can buy with a stop loss of Rs 1663 for the target of Rs 1750/1790 levels in short-term.
TATA STEEL- SELL
CLOSE – Rs 611.50
TARGET – Rs 593-575
CLOSE – Rs 611.50
TARGET – Rs 593-575
TATA STEEL closed the weekly in negative territory. It has broken bearish H&S pattern on down side.Its daily momentum indicators are in SELL. It also closed below 200 DMA at the end of weekly trading session. One can SELL with a stop loss of Rs 646 for the target of Rs 593/575 levels in short-term.
AXIS BANK- SELL
CLOSE – Rs 508
TARGET – Rs 480-475
CLOSE – Rs 508
TARGET – Rs 480-475
AXIS BANK closed the weekly in negative territory.Its daily momentum indicators are in SELL. It also closed below 200 DMA at the end of weekly trading session. One can SELL with a stop loss of Rs 546 for the target of Rs 480/465 levels in short-term.
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