Every trading day is beating down the markets, market
averages are going into a broad based sideways range. There is a possibility of
a double bottom on the weekly charts, but for that to gain strength on the
technical side; the averages should have a shallow move with a close this week.
Whereas, if the market witnesses high range moves with huge volatility, then
the sideways range is likely to continue for a longer period.
This kind of corrections in the market does give a good
opportunity to trade into the best stocks of the time. Likewise we have few stocks
that are pretty strong on the bullish side and are now stopping at the value
station for long entry.
LOVABLE, entry at 445.40 with a stop of 417.15 for a target
of 628.40.
BAJAJ AUTO, entry at 1484.50 with a stop of 1460.55 for a
target of 1673.50.
BATA, entry at 610.45 with a stop of 577.45 for a target of
749.00.
GOLDBEES, entry at 2417.50 with a stop of 2342.95 for a
target of 2867.60.
NITIN FIRE, entry at 38.10 with a stop of 36.15 for a target
of 51.80.
Long trades going strong in LOVABLE, NITINFIRE, GUJARATGAS, BAJAJAUTO, BATAINDIA etc., Markets are getting tighter but trading positions on strong stocks pays well.
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