In CNBC-TV18's popular show Bull's Eye, Vishal B Malkan of malkansview.com shares his trading strategies for the day.
Adani Ports has been making consistently lower tops and lower bottoms in the last one month. The momentum has entered into bearish zone on the daily chart. Hence I recommend a sell for targets of Rs 238.
After a strong uptrend till Rs 330, Arvind has retraced upto an important support level of Rs 265 where it has formed a bullish candlestick pattern on daily chart. Momentum is also at support and hence I recommend a buy with a stoploss of Rs 268 for targets of Rs 295.
Aurobindo Pharma is consistently outperforming the market as well as the sector. It has retraced to Rs 900 levels, which is an important support level. Hence I recommend a buy with a stoploss of Rs 900 for targets of Rs 950.
Reliance Communications, after consistent decline in the last couple of months, is finally finding some support at Rs 90 levels forming bullish patterns on daily and consolidation. Hence I recommend a buy with a stoploss of Rs 98 for targets of Rs 106.
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