Skip to main content

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).

 

Comments

Post a Comment

Popular posts from this blog

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Check Chemcon Speciality Chemicals IPO allotment status in four simple steps

Equity shares will get credited into the accounts of eligible investors by September 30 and the listing of equity shares will be on October 1, 2020. Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, is expected to announce the basis of allotment early next week. As per the schedule provided by the company, the finalisation of the basis of the allotment will be done by September 28 and the initiation of refunds or unblocking of funds from ASBA account will take place on September 29. Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes. Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Iso...
Post a Comment
Read more

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...
Post a Comment
Read more