This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)
1. Philips Carbon
Trying to breakout of 5 month consolidation. 20sma is crossing 50sma which is also near 200sma. RSI has entered into bullish zone.
Should be a good buy on a clean breakout above 274 on daily closing basis. Stoploss 260. Can touch previous high of 319.
2. LT Foods (DAWAAT)
Reversed from a good longtime support level. Breaking above 64, can put it on a good momentum. RSI is trying to break level of 50, 20SMA slowly moving upwards.
Should be a good buy above 64 (closing basis), with a stop at 58. Target could be 68/72/75/79.
3. VA Tech Wabag
Weekly chart. Bouncing from the listing price of 2010. On daily chart, it closed above 20sma for the first time from May 2018. However it failed in the past to cross 50SMA convincingly on few occasions. So what makes it different this time?
I am counting on 2 things, one is the reversal from an important level of 2010. Secondly, on daily chart, RSI made triple bottom and the move has started upwards. Also add to the fact that overall market is making positive moves.
Can buy a small quantity at CMP 365 with a stop of 335 and more once it breaks above 391 and 415. Target can be 415/451.
One other possibility can also be that it consolidates between 364 and 415 for some time before making an upward or downward move. So be cautious, but optimistically so.
4. Century Ply
Price structure seems to be negative. If it doesnt hold support at 239, it can go down till 224/221 level. It did close below 20SMA. RSI briefly moved above 50, but could not hold and back in bearish zone. Price got rejected from 262 a couple of times.
If it breaks 239 and 221, next support is in the region of 209 to 200. View invalid if it moves above 254 on closing basis.
1. Philips Carbon
Trying to breakout of 5 month consolidation. 20sma is crossing 50sma which is also near 200sma. RSI has entered into bullish zone.
Should be a good buy on a clean breakout above 274 on daily closing basis. Stoploss 260. Can touch previous high of 319.
2. LT Foods (DAWAAT)
Reversed from a good longtime support level. Breaking above 64, can put it on a good momentum. RSI is trying to break level of 50, 20SMA slowly moving upwards.
Should be a good buy above 64 (closing basis), with a stop at 58. Target could be 68/72/75/79.
3. VA Tech Wabag
Weekly chart. Bouncing from the listing price of 2010. On daily chart, it closed above 20sma for the first time from May 2018. However it failed in the past to cross 50SMA convincingly on few occasions. So what makes it different this time?
I am counting on 2 things, one is the reversal from an important level of 2010. Secondly, on daily chart, RSI made triple bottom and the move has started upwards. Also add to the fact that overall market is making positive moves.
Can buy a small quantity at CMP 365 with a stop of 335 and more once it breaks above 391 and 415. Target can be 415/451.
One other possibility can also be that it consolidates between 364 and 415 for some time before making an upward or downward move. So be cautious, but optimistically so.
4. Century Ply
Price structure seems to be negative. If it doesnt hold support at 239, it can go down till 224/221 level. It did close below 20SMA. RSI briefly moved above 50, but could not hold and back in bearish zone. Price got rejected from 262 a couple of times.
If it breaks 239 and 221, next support is in the region of 209 to 200. View invalid if it moves above 254 on closing basis.
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