Bata India Ltd: 'BUY' for a target of Rs 880, keeping stop loss at Rs 824.40
The share price of BATA India Ltd has been trading in a sideways range for the past couple of days. This sideways consolidation has taken a shape of a symmetrical triangle.
With Fridays up move, the stock has registered breakout from the said pattern on the back of rising volumes (as shown in the chart). The stock has also taken support from its long term moving average and witnessed a strong pullback. The momentum indicator is also trading in a bullish zone, indicating change in trend.
Thus, traders can look to buy now and again on dips with a stop loss placed below Rs 824.40 levels for the targets of Rs 880/900.
ICICI Bank Ltd: 'SELL' for a target of Rs 895, keeping stop loss at Rs 950.60
The price of ICICI Bank has been trading in a sideways range after witnessing sharp pullback from the lows of Rs 756.90 levels. This sideways consolidation has taken a shape of a distribution Pattern.
The stock has taken resistance from its 200-days moving average. On Friday the stock declined, which led it to close below its midterm moving average. Another key observation to be made is that the momentums indicators are also trading in a bearish zone.
Traders can create short position now and again on rise with a stop placed above Rs 950.60 levels, for the targets of Rs 895 /868 levels.
State Bank of India: 'SELL' for a target of Rs 1,590 keeping a stop loss of Rs 1,688.60
The share price of SBI has been trading in a sideways range for the past couple of days after registering pull back up to the highs of Rs 1,844.50 levels. This sideways consolidation has taken a shape of a head and shoulder pattern.
With Friday's up move, the stock has registered breakdown from the said pattern. The stock has been also trading below its cluster of moving averages. The momentum indicators are also falling. This adds further strength to the bearish argument.
Traders can create short position now and again on rise with a stop placed above Rs 1,688.60 levels, for the targets of Rs 1,590/1550 levels.
Aurobindo Pharma Ltd: 'BUY' for a target of Rs 210, keeping stop loss at Rs 193.80
On the weekly chart the share price of Aurobindo Pharma has been finding resistance from its downward sloping trend line for the past couple of weeks.
With Friday's up move the stock has registered a breakout from this trend line (as shown in the chart). The stock is also finding support from its near term moving average. The momentum indicators are also trading in a bullish zone.
Thus traders can look to buy now and again on dips with a stop loss placed below Rs 193.80 levels for the targets of Rs 210/218.
Kotak Mahindra Bank Ltd: 'SELL' for a target of Rs 660, keeping stop loss at Rs 700.2
The price of Kotak BankBSE has been trading in an intermediate bull trend for a couple of years. In the month of July 2013 the stock had registered breakdown from this up trend. Since then stock pulled back and retested the resistance trend line.
In this week the stock has registered breakdown from the support trend line (as shown in the chart). Traders should also note that the stock has also closed below its 200 days moving average. The momentum indicator is also witnessing fresh breakdown.
Traders can create short position now with a stop placed above Rs 700.20 levels, for the targets of Rs 660/640 levels.
The share price of BATA India Ltd has been trading in a sideways range for the past couple of days. This sideways consolidation has taken a shape of a symmetrical triangle.
With Fridays up move, the stock has registered breakout from the said pattern on the back of rising volumes (as shown in the chart). The stock has also taken support from its long term moving average and witnessed a strong pullback. The momentum indicator is also trading in a bullish zone, indicating change in trend.
Thus, traders can look to buy now and again on dips with a stop loss placed below Rs 824.40 levels for the targets of Rs 880/900.
ICICI Bank Ltd: 'SELL' for a target of Rs 895, keeping stop loss at Rs 950.60
The price of ICICI Bank has been trading in a sideways range after witnessing sharp pullback from the lows of Rs 756.90 levels. This sideways consolidation has taken a shape of a distribution Pattern.
The stock has taken resistance from its 200-days moving average. On Friday the stock declined, which led it to close below its midterm moving average. Another key observation to be made is that the momentums indicators are also trading in a bearish zone.
Traders can create short position now and again on rise with a stop placed above Rs 950.60 levels, for the targets of Rs 895 /868 levels.
State Bank of India: 'SELL' for a target of Rs 1,590 keeping a stop loss of Rs 1,688.60
The share price of SBI has been trading in a sideways range for the past couple of days after registering pull back up to the highs of Rs 1,844.50 levels. This sideways consolidation has taken a shape of a head and shoulder pattern.
With Friday's up move, the stock has registered breakdown from the said pattern. The stock has been also trading below its cluster of moving averages. The momentum indicators are also falling. This adds further strength to the bearish argument.
Traders can create short position now and again on rise with a stop placed above Rs 1,688.60 levels, for the targets of Rs 1,590/1550 levels.
Aurobindo Pharma Ltd: 'BUY' for a target of Rs 210, keeping stop loss at Rs 193.80
On the weekly chart the share price of Aurobindo Pharma has been finding resistance from its downward sloping trend line for the past couple of weeks.
With Friday's up move the stock has registered a breakout from this trend line (as shown in the chart). The stock is also finding support from its near term moving average. The momentum indicators are also trading in a bullish zone.
Thus traders can look to buy now and again on dips with a stop loss placed below Rs 193.80 levels for the targets of Rs 210/218.
Kotak Mahindra Bank Ltd: 'SELL' for a target of Rs 660, keeping stop loss at Rs 700.2
The price of Kotak BankBSE has been trading in an intermediate bull trend for a couple of years. In the month of July 2013 the stock had registered breakdown from this up trend. Since then stock pulled back and retested the resistance trend line.
In this week the stock has registered breakdown from the support trend line (as shown in the chart). Traders should also note that the stock has also closed below its 200 days moving average. The momentum indicator is also witnessing fresh breakdown.
Traders can create short position now with a stop placed above Rs 700.20 levels, for the targets of Rs 660/640 levels.
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Technical analysis of the stocks above is useful. You can also use a social trading network to optimize your buy and sell positions for profitability.
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THE SHARE PRICE FOR Aurobindo Pharm OPENS AT 273.80 WITH A LOSS OF -4.95 (-1.78%) POINTS SO TELL ME THE MODE OF INVESTMENT FOR TODAY
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