Shipping Stocks Zoom

Yesterday shipping sectors saw momentum on the back of short covering and initiation of some long positions.

Though most of the stocks have been trading in  a range GE shipping may break out of the range . The upper part of the range is at 325 and once it trades above it then it may zoom to 340-350.

Bank of India  and M & M closed at life time high and they become a buy on dips stocks.

Oriental Bank of Commerce has support at 448 and resistances are at 476-500.

Berger Paint

Nifty showing somecsign of tiredness and frontliners are also showing pause .

Welcorp has support at 255 and resistances are at 275-280

Berger Paint  has support at 106 and resistances are at

123-130

TCS and Crew BOS

With the current momentum we are discussing here a few swing trading ideas for the week.






TCS has support at 920 and resistance at 958  
Axis Bank has support at 1460 and resistance at 1570

Crew BOS has support at 163 and resistance at 185


Godrej consumer has support at 390 and resistance at 470



Trade less, trade well

HUL comes out of 9 year trading range

Every bull  market has new leaders. This bull market is also led by the new leaders.
Hindustan Uni Lever has been trading in  a range of 126-306 for the past 9 years. It has broken out of this range in the tenth year. It has done so on the back of huge volume.Now this stock is in no resistance zone and from here it may go even further and immediate target is 400-450.
This stock also made a  all time high of 323 in the year 2000. One should buy this stock on every dip.

We are presenting below the yearly chart of HUL .

There are some other stocks  who fall into this category. ITC is also trading  at life time high.

Oil Marketing Companies BPCL, HPCL, IOC are also trading at multi year high . Some other stocks are SBI, Tata Motors , M & M , HDFC Bank, HDFC, Infosys , TCS and Axis Bank.

These all are front line stocks which are providing leadership to the current rally.
These are the new leaders of this bull run

Nifty at resistance

After having run up sharply Nifty is now facing hurdles at higher levels.It has support at 5800.
Meanwhile , stock specific action is seen.
Lupin had  closed at life time high and every pull is an buying opportunity. 370 is support area and it can touch 450 on higher side

PTC and PFC have also resumed their uptrend after corrections. PFC has support at 330 and resistance at 360. PTC has support at 110 and resistance is at 130.

Trade lesss, trade well.

APIL

Nifty is still showing strong momentum. Stocks from the strongest sectors like Bank, Auto, Oil and Gas are still gaining grounds.

APIL has support at 755 and resistances are at 804- 840.

Trades less, trade well

Life at 5860

Nifty  has had a non stop rally for the last ten day , usually going by history the maximum continuous up days are limited to 7-9- 10 and 13 days before the rally stops.Therefore, its time to tighten your seat belt, take money off the table and wait for low risk opportunity.Nifty has now strong base at 5400 and 5550-5600 can be retested.
Bank Nifty has been the leader and it has not made new high for the past two days.Time for correction ? Well, if it closes below 11900 then only we may see some weakness creeping in.

Our list of momentum stocks which we discussed on this blog on 5th September has outperformed the broader market.

Andhra Bank and Ipca Lab

 "It is incredible how rich you can get by not being perfect."

Nifty is all set to make new high. The momentum is strong so ride it.

Andhra Bank has support at 152 and resistances are at 167-175

Ipca Lab   has support at 290 and resistances are at 327-350
Trade less, trade well

Nifty breaksout but 5680 is stiff resistance

Yesterday  Nifty made a new 31 month high on the back of better job Data from US. European markets also surged up after the summer vacations .
We talked about importance of RIL in our previous post and yesterday RIL provided support to Nifty.RIL is now taking support at 900-920 zone and this area provides opportunity for some bottom fishing. Similarly Sterlite has multiple support at 150 zone and this can be considered as good buying zone.

Nifty has now support at 5480-5515 and resistances are at 5680. Going forward in short term upward seems limited and instead of getting euphoric  about this breakout one should think of taking money off the table and wait for some low risk opportunities to enter again.

GSPIL and IOB

Nifty last session on Friday activities in Rice stocks and Fertilizer stocks. Stocks like Lt Food, KRBL, Kohinoor, Deepak Fertilizer , NFL, RCF saw price volume breakout .
Nifty may trade in range with upward biases.

Tube Investment is a buy above 133 with stop of 125 and resistance at 150.

GSPL  is a buy above 119.50 with stop of 115 and resistance at 130.

IOB has support at 129 and resistances are at 140-155.


Trade less, trade well

Momentum stocks

Nifty is trading in a range though September has traditionally been a lackluster month and bottoms are usually made in October month we can expect a ranged bound market ahead.

This weekend I reflected on mid cap theme which is the area where smart money is pitching in and offers money making opportunities for traders. These mid cap stocks are also showing  tremendous strength as they come back from the retracement sharply and make new highs.
Let us discuss these stocks
Banking sector has been the leader  but there are stocks like Central Bank, Corporation Bank and Karur Vysa bank which are very showing good momentum.There  are other stocks like State Bank of Travancore, State bank of Bikaner, State Bank of Mysore ; all these stocks are up on the back of merger news with SBI  but they have run too fast .

The other group is Consumer Durables where Videocon Ind  Bajaj Electicals Hitachi Home, VIP, IFB ,  Panasonic, Whirlpool are showing momentum.

Another category is auto , auto ancillary and Bicycle stocks.  Escorts, VS Motor,Atlas, Hercules, Motherson SS, Suderram, Asahi Glass,  Exide , Amar raja Battery Castrol, Auto Ind , Apolo Tyre, Ceat and JK Tyre  are zooming .
Wellness stocks like Zydus Wellness, Talwarkers are also good bet .

Mid Cap pharma Like Amar Remedies ,Wockpharma Ajanta, Natco, FDC  is another space
Stocks and allied like Ruchi Soya, Jubillant Foods, Venkeys are also food for thought .

Travel and leisure stocks like Cox and kings, Thomas cook is another space to look for.

There are some stocks like  Hanung , Bata India , IGL, Vguard , Deepak Fertlizer , Tata Chem, GSPL, Petro net , Godrej properties and DCM which are trading in a new territory.

How to trade these stocks ?
The best way to but these stocks is during dips/ corrections. keep them on your radar or make a watch list.

A furious global rally

Yesternight rally in all across the global market will make Nifty to once again regain 5500. The major support of 5350 was held and the re bounce from those level  may hit the wall again at 5550. Yesterday RIL moved up it it is able to have a Technical bounce the  Nifty may trade at new highs.
At present every dips seems to buying opportunity.

Crompton Greves has support at 296 and resistance is at 350.

On mobile has support at 320 and resistance at 350-360.

Trade less, trade well.

We may trade in range again?

Nifty bounced back from major support area of 5350 yesterday. going forward 5480-5520 are key resistance areas.Those are good areas to go short on Nifty with stop at 5550.

Auto, FMCG and select pharma stocks  bounced back. One should trade on the long side with low quantity as we are not out of woods yet.

Dr Reddy has formed multiple bottom on char and 1320 is major support  while 1360-1370 is stiff resistance if the stocks is able to trade above the resistance areas then it may go up to 1410-1430.


M & M has support at 610 and resistances are at 637-646-657.

Nifty is at 5400 and RIL the heavy weight is at new low. Had Reliance participated in this rally then imagine where Nifty would have been !