Most promising breakouts for next trading day.

Hello Traders,

Starting with Nifty you can clearly see a head and shoulder forming and one neckline already breached. Also an important resistance of 6094 broke but with not much volume. So we should not be so over the board with this one. Now ahead of US debt ceiling issue we can see some choppy movement but also crucial industry results will be out so graph may jump a little. But people betting on Nifty should be careful as Debt ceiling issue can crash it. Here is the chart.

Larson and Toubro:

As predicted before acc. to analysis this is a good stock to accumulate for medium to long term. Even I am accumulating on this. It has a possible Cup and handle breakout. Also order book is solid.

Target: 900 - 950 - 1100

SL: 806

UCO bank:

UCO bank shows great promise with Head and shoulder break out. This is the one to look out for. There are possible US debt ceiling issues which may drag it to lower 60 levels but it is still a good technical breakout. It closed above 200 day average and also with good volume.

Target: BTST(buy today sell tomorrow at 70) , For medium term target: 75 - 82.

SL: 63 - 62

Unitech:

This stock has not been my favorite but now it shows some positives. It broke a resistance of 18.5 with huge volumes and also 20 & 50 day average lines. Buy above 19.4.

Target: 21-22

Stop loss: 16

Hindalco:

Hindalco is showing bearish trends. Most probably short term. It is breaking trends. I would advise you to exit your long positions below 113.5.

Can also buy PUTS for short term too with target of 110 and SL of 117.

This is all for next trading day. Will post certain new stocks with possible breakout in a short time.