Option traders can go with Bull Call Ladder with the view to multiple support at 11,180-11,100 zones while hurdle at 11,500 to 11,700 zones
According to the O’Neil methodology, there were two follow-up entry points after the tight area formation. After both instances, the stock gave good returns
In the S&P BSE 500 index, as many as 8 stocks fell 10-20 percent which include names like Delta Corp, Rail Vikas, Berger Paints, Bharti Airtel, Gruh Finance, Bandhan Bank, and Adani Green Energy.
Recent formation of Inverse Head & Shoulders classical pattern will give a breakout by trading only above Rs 113, suggests buying in the stock for higher targets of Rs 148.
We believe the performance is very much concentrated for now with only a few stocks that are aiding the breadth and are having the momentum.
Mazhar Mohammad advised traders to remain focused on stock specific opportunites and feels better trading opportunity in index can arise on a strong close above 11,400 levels.
We have collated a list of top five stocks that hit new highs on October 10 and what analysts have to say about them.
Traders are advised to hold long positions with a stop below 11,090 levels, says Mazhar Mohammad.
Mustafa Nadeem, CEO - Epic Research, gave an exclusive interview to Moneycontrol.
If the Nifty manages to decisively clear 11,400 levels, the rally may get extended up to 11,554, says Mazhar Mohammad.
ICICI Securities, in a recent note, maintained its one-year target for the Nifty at 13,400, which translates into an upside of 20 percent from current levels.
We recommend buying Sudarshan Chemical Industries Limited (SUDARSCHEM) around Rs 370 levels with a stop loss of Rs 335 on closing basis for higher targets of Rs 425.
The whole eight percent rally seen after this announcement has fizzled out. This does not augur well for overall market breadth and signals further bearishness in midcaps and smallcaps
Private banks will outperform market and will generate maximum returns, due to strong revenue growth along with stable NII's (Net interest income).
Nifty is expected to trade in range of 11,700-10,700 levels for the month of October 2019 with mixed bias.
This rate cut means that the Monetary Policy Committee has cut the repo rate by 135 basis points in 2019.
Upsides shall remain capped at around 11,400 and rallies towards 11,200 shall be considered as an opportunity to create fresh short positions, with a stop above 11,235 on closing basis, says Mazhar Mohammad.
As many as 32 stocks in the S&P BSE 500 index rose 50-100%. These include Info Edge, Titan Company, Vinati Organics, Muthoot Finance, and SpiceJet.
In the coming week, the market would be driven by global factors/events along with results season outcome in the near term
On the weekly time frame, the Relative Strength Index is trading near 50 levels, showing strength.
The Nifty could find support around 11,050-10,800 levels, with the 11,250-11,400 zone likely to act as a hurdle.
Option data suggests a shift in lower trading range in between 11,000 to 11,600 levels
The Nifty50 could find support around 11,050-10,800 levels and 11,250-11,400 zone is likely to act as a hurdle.
Experts felt the 11,100 is crucial support for the Nifty, if it breaks the same it can fall belowthe psychological 11,000 levels, whereas bulls can get strength only above 11,400.
Immediate resistance for the week is 11,370 which, if breaks on higher side, could strengthen the bulls further till the level of 11,554.