Special Report: Super 5 Stocks for BTST
The fall in the stock of Thermax is gaining momentum. The stock fell around 4 per cent on last Friday. It has been falling consistently over the last four trading days and is down about 10 per cent over this period. The sharp fall this week has led to the stock decisively breaking below its key 200-DMA support at 820. It has also breached a trend-line support at 799. Additionally, Friday’s fall has taken the stock well below the 61.8 per cent Fibonacci retracement support level. The 21-DMA is on the verge of crossing and falling below the 200-DMA. This suggests that the outlook may continue to remain bearish, with the upside remaining capped. A fall to 740 looks likely in the coming days. Further break below 740 can take it lower to 720 and 700 thereafter. Traders with a short-term perspective can go short. Stop-loss can be placed at 790 for a target of 740. Revise the stop-loss lower to 770 if the stock moves down to 760.Dolphin Offshore Enterprises (India) Limited.
The outlook for the stock of Escorts is bearish. Investors with a short-term perspective can sell it at current levels. The stock tumbled around 3 per cent in last trading days . It has been falling continuously over the last four trading days, plummeting about 10 per cent over this period. The bounce-back from the November low of 270 found resistance at around 331. Both the 100-DMA as well as the 38.2 per cent Fibonacci retracement resistance levels are poised at around 331. So, the reversal from 331 since the second week of this month, indicates that the overall downtrend that has been in place since October is intact. A revisit of 270 is possible in the near term. A strong break below 270 will see the downtrend extending to 260 and 256. Traders with a short-term perspective can go short. Stop-loss can be placed at 299 for the target of 260. Revise the stop-loss lower to 280 if the stock moves down to 273.
3.Gitanjali Gems Limited
The stock of Gitanjali Gems is looking positive in near term. Investors with a short-term perspective can consider buying the stock of Gitanjali Gems at current levels. After registering a 52-week high at 93 in early October, the stock reversed direction and started to decline. The stock was on a short-term downtrend until it found support at around 50 in mid-November. Taking support at the long-term base, the stock resumed its uptrend that has been in place since the March low of 29.9. While trending up, the stock breached its key resistance at 60 as well as 21-DMA in early December. In last week, the stock surged 6.7 per cent continuing its short as well as intermediate-term uptrends. This upmove has strengthened the bullish momentum. Buying interest is visible as the daily price rate of change indicator is hovering in the positive territory. The stock can extend its rally and hit the price target 70 and 71 in the upcoming sessions. Buy with stop-loss at 61.
Pharma Company Cipla shares gained more than 4 percent intraday Friday after its flagship product Sereflo has received final approval from the UK health regulator. “Cipla has yielded a final approval for its lead MDI product Fluticasone + Salmeterol (Sereflo) from UK Medicines and Healthcare products Regulatory Agency for its partner in the UK,” the Mumbai-based healthcare company said in its filing. Sereflo, 25 mcg/125 mcg & 25 mcg/250 mcg are generic equivalent to GlaxoSmithKline’s Seretide inhalers and are indicated for asthma treatment.
Technically we observe that bullish hammer pattern formation in monthly chart. Its prices were closed at 583.75. The buying level formed above 582, so that traders can take long position from current market price, and can book the profit when it comes to the level 640-645 and can put the risk part below the level of 475.
The company saw the drop of sale after the Demonetization initiative when the entire industry witnessed decline in sales. But year end the impact of demonetization decreases, technically the continuous fall of stock prices of hero yesterday we saw a bit correction in daily chart. From the next trading session buyers can take the position when the prices retrace to the level of 3040-3050. The immediate resistance is 3100 and 3150. So we recommended that buyer can take long position from the level of 3040-3050 and can take the profit part till the prices come 3100 and the next would be 3150 And put the risk part can be taken at below the level of 2990.