INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Fresh worries over an escalating trade dispute between the US and China are casting their shadow on today's trading.
The latest
sense of anxiety stems from the US imposing tariff on allies and rivals alike, prompting them to strike back in kind
This game of oneupmanship in all probability will play a key role in deciding trading bets for the day.
Analysts say it will be imperative
for the Nifty to move past the 10,820-10,850 for resumption of any meaningful upmove
Monday is likely to see the levels of 10,850 and 10,895 acting as immediate resistance
Supports may come in at 10,765 and 10,710, according to Milan Vaishnav, Consultant Technical Analyst, Gemstone Equity Research Advisory
Services of Vadodara.
"Unless the index closes above 10,930, the bulls will not gain an upper hand
A breakout is needed for them to reach safe shores, said Mazhar Mohammad of Chartviewindia.in.
Based on various brokerage recommendations,
Research Trading Advisory, Chartviewindia.inVivimed Labs | BUY | Target Price: Rs 82 | Stop loss: Rs 57This counter appears to have posted
a strong bottom around Rs 56 as it tested the same level thrice each week before registering a consolidation breakout from the zone of Rs
It threw up a range breakout target of Rs 70, which was met on Friday
However, as pharma sector appears to have bottomed out after a prolonged downtrend, this entire pack can be expected to head to much higher
levels with initial targets placed around 200-Day Moving Averages.
Tata Elxsi | BUY | Target Price: Rs 1,400 | Stop loss: Rs 1,260The stock
appears to have registered a sustainable breakout above its multi-week consolidation zone of Rs 1,260-1,118, which is throwing up a target
Hence, traders are advised to adopt a two-pronged strategy of buying now on declines of up to Rs 1,270 with a target of Rs 1,400
Stop suggested for the trade is below Rs 1,260 on a closing basis.
CG Power | BUY | Target Price: Rs 63 | Stop loss: Rs 52After a severe
drubbing from the highs of Rs 80 to Rs 53 in just three sessions, this counter appears to be in a consolidation mode for the last nine
The narrow range of the last three sessions is pointing to a dwindling momentum on the sell side
Hence, a pullback from current levels cannot be ruled out
In that scenario, a tepid bounce with 38 per cent retracement level itself throws up a decent target of 63
Stop suggested for the trade is below 52 on a closing basis.
Nandish Shah, Technical Derivatives Analyst at HDFC SecuritiesHindustan Oil
Exploration | BUY| Target Price: Rs 170 | Stop loss Rs 128Hindustan Oil has given bullish breakout on the weekly chart by closing above the
previous resistance of Rs 140 odd levels
During the week, the stock price zoomed to 22-week high with volumes surging by more than three times
The share price is trading above its 20-, 50-, 100- and 200-SMA, which indicates bullish setup for medium to long term charts
Momentum Indicators and Oscillators are also showing strength in the stock
Therefore, we recommend buying Hindustan Oil Exploration at the Friday's closing price of Rs 143 and adding more on dips around Rs 135
for the upside target of Rs 170, keeping a stop loss of Rs 128.
Mahindra Lifespace Developers | BUY| Target Price: Rs 630 | Stop loss: Rs
535The stock price has given breakout on the daily chart on Friday by surpassing the multiple resistance of Rs 560
It also closed at 10-year high, highest since May 2008, indicating the stock is in a strong uptrend
Momentum Indicators and Oscillators like RSI and MACD are showing strength in the stock for the short to medium term
The stock price is trading above its 20, 50, 100 and 200 SMA, which indicates bullish setup for medium to long term charts
Therefore, we recommend buying at current market price of Rs 570 and adding more on dips around Rs 555 for the upside target of Rs 630,
keeping a stop loss of Rs 535 level.
Aditya Agarwala, Technical Research Analyst, YES SecuritiesNilkamal | BUY | Target Price: Rs
1,780-1,850 | Stop loss: Rs 1,640On the daily chart, Nilkamal is on the verge of a breakout from the channel pattern neckline placed at Rs
A sustained trade above the channel can trigger bull trend reversal taking it higher
On the weekly chart, it has broken out from the consolidation pattern affirming the bullishness.
RSI has turned upwards after taking support
at the previous support of Rs 40 i.e
lower-end of the bull territory indicating a range shift in favour of the bulls.
Minda Industries | BUY | Target Price: Rs 1,375-1,425 |
Stop loss: Rs 1,240On the weekly chart, Minda Industries is on the verge of a breakout from an Ascending Triangle, suggesting bullishness in
Further, a sustained trade above Rs 1,340 i.e
recent peaks can extend the uptrend to levels of Rs 1,375-1,425
On the daily chart, it is on the verge of a breakout from the neckline of an inverse Head Shoulders pattern, suggesting bullishness
RSI on daily chart has turned upwards after breaking out of the upper Bollinger Band and entering in the bull zone affirming the strong
bullishness dominant in the stock.
Natco Pharma | BUY | Target Price: Rs 880-920 | Stop loss: Rs 780On the daily chart, Natco Pharma has
broken out from an Ascending Triangle pattern indicating resumption of the bull trend
Further, the stock has broken out with healthy volumes affirming the bullishness
RSI has turned upwards after forming a double bottom suggesting higher levels in the coming trading sessions.
Vaishali Parekh, Research
Analyst, Technical Research, Prabhudas LilladherHUDCO | BUY | Target Price: Rs 68 | Stop loss: Rs 57The stock has made a double-bottom
formation pattern in the daily chart at around Rs 54.60 and has moved past the significant 34-WMA and also on the verge of a breakout above
the 50-DMA moving average
The indicators are favourable and with the chart looking attractive, the bias has been positive
With tremendous volume participation, we recommend a buy in this stock for an upside target of Rs 68 keeping a stop loss of Rs 57.
Divi's
Laboratories | BUY | Target Price: Rs 1,220 | Stop loss: Rs 1,040The stock has given a decent correction from the peak of Rs 1,220 to bottom
out at around Rs 1,020 levels where the 200-DMA moving average lies
It currently has recovered significantly to maintain a positive bias
The RSI has also recovered strongly from the oversold zone and made a steep rise to signify strength and has potential to rise further in
With rising volume activity seen, we recommend a buy in this stock for an upside target of Rs 1,220 keeping a stop loss of Rs 1,040.
Milan
Vaishnav, CMT, MSTA, Technical AnalystGodrej Properties | BUY | Target Price: Rs 800 | Stop loss: Rs 740A formation of a double top was seen
in the Rs 911-920 zones and after testing these levels, the stock saw some corrective decline
A pullback was seen from the broader pattern support and currently after that pullback, the stock hovers around 50-DMA and 100-DMA, which
remain in very close vicinity
The Daily MACD stays in continuing buy mode
RSI remains neutral, showing no divergence to the price
A buy signal has emerged over Stochastic on the Weekly Charts with a bullish divergence
The stock remains in a leading quadrant when benchmarked against the Realty Index
It's poised to make some favourable moves in coming days.
Reliance Industries | BUY | Target Price: Rs 1,070 | Stop loss: Rs 985The stock
remains in a multi-month long rectangle trading range
In the last upmove that it saw from Rs 900 levels, the stock has attempted to move out of this trading zone
Daily MACD remains in continuing buy mode
A positive crossover is seen on Weekly MACD and it is now bullish while trading above its signal line
The prices have closed above the upper Bollinger band on the Weekly Charts
Given the present structure of the chart and with the bands being a little wider than normal, some throwback in price may occur
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