Special Report: Super 5 Stocks for BTST
1.RURAL ELECTRIFICATION CORPORATION LTD
Recltd performed well in intraday trading, from the level of 576 there is fresh buying we can see. Its prices were closed positive at 3.85 (1.91%) in futures. In daily chart overall trend is bullish. In traday trading session there is a consolidation formed the resistance level in future segment is 205 and it already break this level and prices closed at 204.75. We suggest buy on dip strategy, were the immediate resistance level are 210-216 and the prices can test the 52 week high in coming days. The immediate support is 200-192 Investors can take long position at current market price. And put the profit part when prices would come at the level of 210 with risk part of 198.HINDUSTAN PETROLEUM
Technically in daily time frame the overall trend is bullish in HPCL. Yestterday prices closed at 557.40 in future, there is a psychological level of 500 acts as support and the prices were bounce back from that level and now about to break the 52 week high in coming days. The immediate resistance level of 580-598 and support of 498. In coming day if prices made a little correction near to 548-549 investors can take long position up to the next resistance level with risk part of immediate support of 498. The Rajasthan government today inked a fresh MoU of Rs 43,129 crore with Hindustan Petroleum Corporation Ltd (HPCL) for an oil refinery in Barmer district which will produce BS-VI fuel. The work for the refinery will commence in the current financial year and will complete in next four years.
Investors with a short-term perspective can consider buying the stock of SREI Infrastructure Finance at current levels. Since taking support at 80 in March 2017, the stock has been on a medium-term uptrend. However, the stock encountered a key resistance at around 93. After hitting the 61.8 per cent Fibonacci retracement level, the stock found support at around 81.5 in late March. Subsequently, the stock started moving sideways in a narrow band between 81.5 and 86. Yesterday stock move bearish but it takes support of 85, so we are expecting the prices would be bounce from this support level. On Thursday, the stock surged 4.4 per cent with above average volume breaking out of the narrow sideways range. The stock has also breached its 21-DMA showing signs of bullish momentum. The daily price rate of change indicator has entered the positive territory implying buying interest. The stock can continue to move higher and reach the price targets of 91 and 93. Buy the stock with a stop-loss at 82.
The stock of Tribhovandas Bhimji Zaveri (TBZ) price closed at 84.50 jumped 0.18 per cent breaking above its immediate strong resistance level of 85 with healthy volume. There is another major consolidation level of 92 at which the double bottom pattern formation and also there is major trend line resistance formed. If it breaks this level of 92 it breach to the level of 105- 130, immediate support level is 79. With this rally, the stock appears to have resumed its medium-term uptrend that has been in place since taking support at around 56 in December 2016. It is trading well above its 50- and 200-DMAs. Daily indicators, such as price rate of change and moving average convergence divergence are hovering in the positive territory backing the stock’s uptrend. The short-term outlook is bullish for the stock. It will test the next resistance at 105. It has the potential to break above this resistance and trend higher to 105 and 120 levels in the short term. Traders with a short-term perspective can buy the stock with stop-loss at 79.