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Buy calls| Pfizer| Venkys India| Blue dart Express|

 Pfizer: Buy | CMP: Rs 4,774.50 | Target: Rs 5,280 | Stop Loss: Rs 4,560 | Return: 10 percent

After breaking out of rounding bottom formation, the stock has retraced till its 20-day moving average and showing signs of life again. Prices are trading above all its short term and medium term moving averages ribbon and momentum indicators are trading in a bullish zone. The short term moving averages are developing a positive curve after a phase of mild correction suggests that reversal after retracement can be expected in the counter. There is a formation of higher top and higher bottom on weekly as well as monthly charts. The daily RSI is bouncing back from important support levels indicates that short term up move can be expected in the counter. Traders can accumulate it at the current market price (CMP) and on any dip till Rs 4,650 with the short term perspective.



Venkys India: Buy | CMP: Rs 1,520.05 | Target: Rs 1,760 | Stop Loss: Rs 1,390 | Return: 15 percent

The stock has broken out of a falling trend line resistance and started trading above its major medium term moving averages. The short term moving averages in the weekly time frame has developed a positive curve indicating the initial sign of trend reversal buying. The weekly RSI has started trading in a bullish zone for the first time after April 2018 suggests that momentum is building up in the stock and the short term rally might not be ruled out. On the daily chart, the lower top and lower bottom cycle has reversed indicating the worst is over and bulls are likely to take the charge again. The average directional index (ADX) is trading with a positive slope suggesting the trending move in the stock. Traders can initiate buying positions at CMP and on any dip till Rs 1,490 for the short term gain.

Blue Dart Express: Buy | CMP: Rs 2,289 | Target: Rs 2,564 | Stop Loss: Rs 2,140 | Return: 12 percent

The stock has been consolidating in the trading range since March 2020 and seems to be poised for the fresh breakout. The RSI has bounced back from the important support area and is trading in a bullish zone. Recently, the bullish crossover of short and medium-term moving averages ribbon has been witnessed on daily chart suggesting that bulls are likely to have upper hands in the coming days. Bullish crossover in momentum indicators and volatility breakout in the hourly chart suggests that a decent move can be expected in the counter in short term. Traders can initiate long positions at CMP and can add more once the stock starts trading above Rs 2,320 for short term gain.

Disclaimer:

 SD Solutions advises users to check with certified experts before taking any investment decisions.


*Sources - moneycontrol.com,  Rudra Shares & Stock Brokers Ltd. (SEBI Reg.No.INH100002524) (RA).

 

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