Here are two stocks at 200 dma and look well set for bounce. But with Global markets in turmoil - the big question: Will they?
Praj Ind at 200 dma
Praj Ind stock after a long time made a bullish momentum move in June 2015 but in last few months...the stock has come off from highs. The stock is at 200 dma and with bullish force behind it - the stock should hold current levels and rally. Having said that - a breakdown will result in stop loss and re-evaluation
Oracle Financials at 200 dma
As you can see in the chart above: Oracle Financials stock is trying to find support at 200 dma. That's considered bullish for a strong stock. Technically, stock should hold and rally.
Summary: Opportunity Sheet
Please note success of stock highly depends on market 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