The stock of Voltas has provided a fresh breakout from a pennant
pattern on the daily chart and has also been trading in a rising channel.
BUY VOLTAS |
TARGET: Rs 755 | STOP LOSS: Rs 700
The stock has
provided a fresh breakout from a pennant pattern on the daily chart and has
also been trading
in a rising channel. The momentum indicators and oscillators are in the buy
mode on the weekly as well as daily scales which hint at a further positive
momentum in the counter. The stock has also witnessed a build-up of a long
position with the addition of approximately 18 per cent open interest.
BUY RBL BANK |
TARGET: Rs 190 | STOP LOSS: Rs 172
The stock has
formed a symmetrical triangle formation on the daily chart and is on the verge
of a breakout from the same. The momentum indicator RSI has also breached the
falling trend line and MACD has provided a fresh buy crossover on the daily
chart which hint of further positive momentum in the counter.
BUY COAL INDIA
| TARGET: Rs 125 | STOP LOSS: Rs 110
The stock
has formed a strong base at around 110 levels. It also surpassed the centerline
of the Bollinger band which is called the exponential moving average and now is
heading towards the upper end of the band. It also reclaimed its short-term
21-DMA which was placed at 114 levels. The momentum indicators and oscillators
have turned positive on the daily chart which hints of a strong pullback in the
short term.
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