Here are three stocks very uniquely positioned on the chart
Is Sun Pharma standing at Strong Support Level?
As you can see in the chart above: Sun Pharma stock is holding a support line of 800 for more than a year now. Every decline to 800 has resulted in a bounce of minimum 15% in the past. Will this trend continue? Is this safe place for Long term investor in the stock or stock is near the end of its Long term Bull market? No matter what your view is - It's a great stock to watch around current market price.
Jet Airways: Can Trading Interest sustain?
Jet Airways has done two things that seems to be attracting lots of traders - 1. The stock has moved beyond 410-420 in current rally; and 2. The price action has come on back of strong volume. Now, Jet Airways stock has pulled back to level where it can become attractive once again. The stock is up 38% since September 07 and small consolidation here cannot be ruled out
Jubilant Foodworks: Back to Breakout Support Level
As you can see in the weekly chart above: Jubilant Foodworks after considerable time broke out above 1375 and again after long consolidation managed a breakout move from 1375 to 1900+. Since, August 14 2015 - the stock has pulled back from 1900+ back to 1375 levels once again. Technically, 1375 is a strong support area and looks like stock is in for trading range move between 1375 and 1900 in weeks and months to come. Any decline below 1300 will undo the long term bullish structure
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers