Hi Traders,
Nifty may move down but over all nifty would be choppy till coast is clear on economic front.
Moves for tomorrow:
DCB: High has been achieved and resistance is there. Due to higher profits in Q2 report it may achieve some gains but I would advise you to sell on highs as this stock is going down if goes below 51.5 because its resistance of 53 is not broken effectively for a long time and has pulled back again and again.
Indiabulls real estate: Trend breakout is there. Resistance breakout need. Buy above 64 for a medium to long term target of 75 with SL of 57.
UCO Bank: Wonderful stock. Worked like charm on short term target given by us for target of 70. For long term the target was 75. But the key is when to buy? Buy on lows. Since this stock is range bound it has strong support at 57 and strong resistances at 70 and 75. So the trend breakout is here with good volumes, hit a resistance of 70 and came back. Also because the market is pulling back and weak IIP and strong inflation numbers. So wait for it to stabilize around 64 and then come back again to 75 levels after breaking 70.
So the call is buy at lows below 66 and sell half at 70 and rest for 75.
LnT: If LT pulls back for support at trendline then buy at 843 for a target of 890 and then 950. Basic strategy is buy at lows and sell at highs.
Nifty may move down but over all nifty would be choppy till coast is clear on economic front.
Moves for tomorrow:
DCB: High has been achieved and resistance is there. Due to higher profits in Q2 report it may achieve some gains but I would advise you to sell on highs as this stock is going down if goes below 51.5 because its resistance of 53 is not broken effectively for a long time and has pulled back again and again.
Indiabulls real estate: Trend breakout is there. Resistance breakout need. Buy above 64 for a medium to long term target of 75 with SL of 57.
UCO Bank: Wonderful stock. Worked like charm on short term target given by us for target of 70. For long term the target was 75. But the key is when to buy? Buy on lows. Since this stock is range bound it has strong support at 57 and strong resistances at 70 and 75. So the trend breakout is here with good volumes, hit a resistance of 70 and came back. Also because the market is pulling back and weak IIP and strong inflation numbers. So wait for it to stabilize around 64 and then come back again to 75 levels after breaking 70.
So the call is buy at lows below 66 and sell half at 70 and rest for 75.
LnT: If LT pulls back for support at trendline then buy at 843 for a target of 890 and then 950. Basic strategy is buy at lows and sell at highs.
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