Long trade on HUL closes with a 72 points gain today. Stock breached stop and later sprang up to a new high at 550.85, but, closed after giving back more than 22 points. Rejection at the high's means, buyers are shying away higher prices. This stock is likely to correct to value zone and with the weekly charts showing spectacular strength, there is another long trade in the waiting. Track this stock for its next bull run.
Short of the intraday Nifty closes with a 95 points gain. Thus making August an overall successful month, though there were lesser number of stocks that gave trade opportunities. The Mid-year bullish season comes to an end with the markets going into a broad based range. Once base building is over, there will be next trades coming up for long trades. FMCG, PHARMA and Auto hold promise in the next up move. Selective Cement stocks have chances for long trades like AMBUJACEM, ULTRACEMCO etc are stocks to be in your watch list.
Traders will go light this week with next to nil positions to track. We shall await the next season in the coming weeks.
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