Hi investors/Traders,
Nifty and market jumping to BJP's victory but that is just a momentary change. Market is still not good in fundamentals so be wary of going long term on market but be stock specific.
Lets look at a few stocks which can breakout or show a better trend for short term.
Ranbaxy:
Looks like it is finding support at trendline and also at RSI. So would advise to buy for a small target of 440 if it jumps.
SL: 416-413
Hindalco:
Hindalco is showing bull signals of all kinds but I am still wary because it is on verge of resistance it can also go down but RSI suggest it can break its resistance and also a hammer is getting formed which shows buyer bias.
Second view: If it goes down it can go down till 116 or till trendline as shown in figure.
Target: 134
SL: 120 (if it opens positive without any gapups or hammers at the end of day)
Nifty and market jumping to BJP's victory but that is just a momentary change. Market is still not good in fundamentals so be wary of going long term on market but be stock specific.
Lets look at a few stocks which can breakout or show a better trend for short term.
Ranbaxy:
Looks like it is finding support at trendline and also at RSI. So would advise to buy for a small target of 440 if it jumps.
SL: 416-413
Hindalco:
Hindalco is showing bull signals of all kinds but I am still wary because it is on verge of resistance it can also go down but RSI suggest it can break its resistance and also a hammer is getting formed which shows buyer bias.
Second view: If it goes down it can go down till 116 or till trendline as shown in figure.
Target: 134
SL: 120 (if it opens positive without any gapups or hammers at the end of day)
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