In this chat in et markets, he shared 3 ideas for the week – Nalco, IIFL and Oberoi Realty. Edited quotations from a chat:
After claiming 1% last week, what is the possibility of the market that keeps on the momentum after consolidating the past two weeks?
In history, rallies followed by phases of consolidation often cause upward breakouts, and we look forward to the same result at this time. Resistance is found in 25,150; A breakout above this level – or even a continuous intimacy more than 25,000 – may give way for action toward 25,350. Again, more than 25350 the index can move toward 26000 in a short term. To lower, immediate support is at 24,850. A disruption below this level can prevent ongoing rally and quickly withdrawing the tube booking.The good bank has become significant and even hit with fresh record high even if it is still 5% from September Peak. How do you sell the week index in the future?
The RBI transfer to the monetary policy policy gives many needed banks in the bank bank, leading a month of conjunction. Bank bank Finally moved above to 56,000 marks and appears to be targeted for a directional step toward 57,700 in the short term. In descending, 55,900 is expected to act as an important support. Falling under this level may promptly proceed with the return phase.
The Friday’s rally judged led by rates-sensitive sectors, especially BFSI and revery. Meanwhile, the better to give up due to the lack of performance of this, oil and gas, and cars. The overall appearance of the market is to make positive, with banking and finance emerging as clear leaders. Staying in high bfsi sectors and realty is likely to develop profits in a short term.
To keep enthusiasm, small people outser. Did you see the moments with some correction crawling in the near term?
I believe the full time in a small cover area is likely to continue, given the strong interest in buying a lot of Stocks of small-cap. However, it remains important to choose from selecting stocks from this feature. Only those who show stability of the past one to three months should be considered in dips, while weak names should be avoided. The idea is simple: buy energy, sell weakness.
Do you see excess signs of Cochin Shipyard on charts?
Stock witnessed a vertical rally last month, with almost 80% of this time. The trend remains positive, have the potential for further upward in the short term. The method of ‘buy-on-Dipls appears more careful than pursuing the price at the current level. The arrival of ₹ 2,200-2,100 ranges can offer a good entry opportunity, with a quitting loss below 2,030. Of a recovery, stock can rise back to 2,700 or higher.
Give us your highest ideas of the week.
Buy nalco around ₹ 188 | Target: ₹ 200 | Stop – Loss: ₹ 183
The stock has moved higher after a period of consolidation in the daily hours of time, which indicates the investors’ investors. It continues to trade more than 50-day moving average, strengthening the power setup. In addition, RSI is in a strong crossover, further supporting positive momentum. With the overall feeling of construction remaining, stock has the potential to move toward ₹ 200 in the short term. A high position can be considered at a quitting loss placed below ₹ 183.
Buy iifl around ₹ 450 | Target: ₹ 485 | Stop-Loss: ₹ 433
Stock forms a series of higher highs and higher lows and recently broken on top of the swinging on the daily chart. It also moved above in 200-day movement, indicating a shift in a positive long-term trend. The RSI is in a strong crossover and continues to strengthen, confirm the upper momentum. A high position can be started with a quitting loss placed below ₹ 428, because stock tends to reach ₹ 498 in almost term.
Buy overoirlty around 1,900 | Target: ₹ 2,050 | Stop-Loss: ₹ 1,830
The stock is broken above the previous swing above, showing a flexible feeling of feeling. In addition, it sells more than 200-day acting average, indicating the strength of the ongoing trend. The RSI is in a strong crossover, further validation in positive momentum. With strong price action and technical confirmation, stock has the potential to move toward 2,050 in a short term. A high position can be considered with a quitting loss placed below ₹ 1,830.
