NIFTY: Weekly charts of Nifty add more strength on the
bearish side. The average is yet to make a new low on closing basis. It has
been holding 5150-4750 range for the whole of September. Weekly volumes have
registered 35% above average on an up closing week, this is good news. There
are possibilities for the index to reach 5200 levels before taking into further
bearishness, which should register new lows on the Index. 4700 holds a good
support for now, the Index should record dried up volumes on a close towards
4700 area to gain bullish strength.
GUJARATGAS: The stock gave a very strong up move with a 3%
gain on close and a 63% jump in volume above average. The stock is poised to
reach targets soon.
HEROMOTOCORP: The stock plunged back into value zone with a
lesser volume of 15% against its average as against the 156% above average
volumes it had recorded the previous day which was an up close. With the stock
closing into a new low on the prevailing bearishness in the daily charts, its
histogram has recorded a higher low, which is a positive to the stock.
LOVABLE: This stock made a wonderful come back into the
bullish move, but has resided on selling pressure towards closing. Volumes are
5% lower than its average, the day’s volume almost double in comparison with
the other trading days of the week. Daily histogram has registered a bullish
divergence too. Entry stop is expected to be intact while the stock holds to a
range before the likely target approach.
NITINFIRE: This stock keeps its sweet zone presence intact
on the weekly. On the daily charts, the stock has made its lowest low close in
the prevailing bear phase. The histogram of the stock has begun to go flat.
Volumes have been 76% lower than its average, which is a good sign on a lower
low close. This stock is likely to witness a reversal soon.
PAPERPRODUCTS: This stock has been holding into the sweet
zone for the past 6 weeks now, with its histogram gaining more strength below
zero on the weekly. On the daily charts the stock opened itself into a clear
bearish trend, while its MACD and histogram are giving out confused signals.
The stock has a chance to get stop triggered on the prevailing long trade.
TTKPRESTIGE: This stock managed to close into the sweet zone
after briefly maneuvering below the levels. While the bullish trend is intact,
the stocks weekly histogram is getting deeper below zero. This is an issue of
concern for the long trade. On the daily chart, the stock gave a near flat to
bullish pattern on the histogram, when it closed at the lowest in the
prevailing bearish trend on the daily. The up-close on Friday saw good
improvement in volumes which is 16% below its average, while for the rest of
the week; the stock was trading at below 50% volumes. There are fairly good
chances for the stock to get into a renewed bullish move on the daily.
Opportunities available for the coming week:
ADVANTA: Long between 331.3-324.25, stop 317.25 for a target
of 417.35.
LAOPALA: Long between 99.65-95, stop 90.30 for a target of
134.70.
GODFREYPHILLIP: Long between 3175.35-3010.20, stop 2845.05
for a target of 4229.90.
GSFC: Long between 404.85-395.25, stop 385.65 for a target
of 468.05.
NAVINFLURO: Long between 333.85-324.85, stop 315.85 for a
target of 390.00.
PAGEIND: Long between 2409.00-2283.05, stop 2157.10 for a
target of 3016.30.
EROSMEDIA: Long between 215.80-206.05, stop 196.30 for a
target of 263.95.
GOLDBEES: Long between 2496.25-2426.15, stop 2356.10 for a
target of 2898.90.
IDEA: Long between 92.05-88.55, stop 85.05 for a target of
109.65.
All the trades reported here have above 4 times reward to their
risk exposed in trade.
Happy trading.
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