Here are few charts that look good as of today morning.
Essar Oil: Breakout from Congestion Zone
Source: Chartalert.com
As you can see in the Chart above – Essar Oil stock was stuck in a small congesiton zone since 21st April with upside resistance at 55. But yesterday – a big bullish push broke the resistance of 55 and stock closed with 5% gains. This bullish move sets the stock up for more gains to target of 64 i.e. 200 dma.
BF Utilities: Finally closes above 200 dma
I covered BF Utilities on June 07 when stock was at 393.The reason: stock interestingly poised to break past 200 dma. Well, it’s only yesterday stock closed above 200 dma.
Source: Chartalert.com
As you can see in the Chart above – BF Utilities has been trying to break past 200 dma since last two weeks and it’s only yesterday – stock closed above 200 dma for the first time. Now, there should be follow through today to decisively confirm that a new move is about to begin.
GVK Power: Finally closes above 200 dma
There seems to be some sectoral support for Infra stocks.
Source: Chartalert.com
As you can see in the Chart above – GVK Power got a big momentum spark few days back and it seems the bullish move continues to push the stock higher. Yesterday, it closed above 200 dma. What we need: another follow through move to decisively change the sentiment around the stock
MRF: at 100 dma
MRF is a leadership stock and at major moving average: Buying Opportunity.
Source: Chartalert.com
As you can see in the Chart above – MRF stock is at 100 dma of 10186. A strong bounce from current levels can push the stock to 11500.
Bajaj Finserv: at 100 dma
Bajaj Finserv is a leadership stock and at major moving average: Buying Opportunity.
Source: Chartalert.com
As you can see in the Chart above – Bajaj Finserv stock is at 100 dma of 637. A strong bounce from current levels can push the stock to 750.
Please do your own due diligence before trading.
sir i bought HPCL @320 shall i hold it or sell it………
essar oil,
what is the logic for target of 64 ?
jsu t becoz 64is 200 dma?
pl explain
Yes..when stocks trade below 200 dma…they tend to revert to mean i.e. 200 dma on any rally
Hello Sir,
GVK price is rising but the RSI is not making high, there is a concern in that…..I plan to by the stock abv 16-17 only but if it closes in red this week, I plan to sell this stock for trgt of 14 at least.
Chetan.