Our analysts pore over technical charts to offer some smart trading tips for the next few months
AJANTPHARM
The stock has witnessed stellar rally till it’s clocked its life time high of 2125 levels on 04th October 2016. Thereafter, the rally took pause, on account of profit taking; price corrected and made 52 week low of 1120 levels which is nearly 47% of said rally. Post which, the stock has rallied nearly 42 % from above said lower levels which placed the stock above its major moving averages on daily chart, reflecting uptrend in the stock will remain intact in coming months as well.
Points of observation
On the daily charts as well as weekly charts, the stock is trading above its 21/50/100/200 DEMA levels, indicating the positive momentum in the stock is likely to continue and the stock may move higher towards 1850-1900 levels in medium term.
Among the indicators and oscillators, 14-perioRSI on weekly chart is pointing northwards and poised with bullish bias, indicating bullish trend in the stock is likely to continue and the counter is expected to head higher in the near term.
Among other leading indicators parabolic SAR (Stop & Reverse) is trading below the current price on daily as well as on weekly chart, which reflects buying will remain intact in the counter in the coming month also.
The MACD is trading above the signal line in buy territory on daily chart indicating positive momentum in the stock on medium to long term perspective.
From above observation we suggest you to go long in the counter and any dip towards 1400 levels can be used to accumulate the stock with a stop loss of 1250 levels on closing basis with the projected target of 1850 followed by 1900 levels in next 9-12 months.
BHEL
This story is from the February 2018 edition of The Finapolis.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 2018 edition of The Finapolis.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
7 Ways to Prevent Text Neck
Our head is heavier at an angle than it is at a neutral position. That means our increasing usage of smartphones for reading, texting, etc is putting undue pressure on our spine
How To Take Your Networking To Next Level
Networking is one of the best ways to use your time
5 Fun Ways To Save Money
There are several simple ways to reduce spending and rack up more cash. Sukanta Kundu lists some interesting ones.
Understand Money Past, Present And Future
It is important to strike a balance between the desire to prepare for the future and save versus the impulse to live for the present and enjoy earnings now
Buddy, Either A Borrower Or A Lender Be...
P2P lenders are (mostly) for-profit online “marketplaces” like Flipkart or, eBay, that arrange for borrowers to deal with lenders directly
Why The World Must Pay Heed To The 'Crypto Wave'?
Prolonged ignorance could result in a sudden shock for the global economy
Demo Hasn't Dented Deposits
Demonetization has resulted in a permanent improvement in bank deposits while not really inspiring large withdrawals among people in its aftermath
How Big Basket Grew To Become India's Leading E-grocer
Mubaashir Ansari interviews Hari Menon, Co-Founder & CEO, Big Basket
Faster Internet Speed Spurring OTT Growth In India
Though the Internet speed in India is still at just a third of the global average, industry players feel the optimal data speed, coupled with friendlier data costs, will lead to higher OTT growth
Ask The Finapolis
Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
