Rajesh Bhosale on how to trade in BEML, Bharat Financial Inclusion and Dabur India
Source: IRIS | 20 Sep, 2017, 03.05PM
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Rating: NAN / 5 stars. |
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Rajesh Bhosale, Technical Analyst at Angel Broking has recommended trading strategies on Rajesh Bhosale on how to trade in BEML, Bharat Financial Inclusion and Dabur India. He gave following rationale for technical strategies:
1. BEML View-Bullish Last Close-Rs. 1,934.10
''The stock is an uptrend continuously moving in a higher top higher bottom bullish price cycle. On the daily chart, stock prices after a sharp up move from the levels of 1400 to 1900 went into time wise correction phase. The said correction is healthy for the overall uptrend to digest earlier gains. Prices have now seemed to have resumed the primary uptrend with prices breaking above the recent swing high confirming a bullish breakout. The said breakout is supported with a bullish candle and huge increase in volume indicating a continuation of the northward journey. Thus, we recommend buying this stock at current levels for a target of Rs 2,065 over the next 5-10 sessions. The stop loss should be fixed at Rs 1,870.''
2. Bharat Financial Inclusion View-Bullish Last Close-Rs. 949.50
''Stock prices had given a bullish breakout on 6th Sept from the resistance level of 940 with good volumes and bullish candle. However, after a decent move towards 980 levels, prices have witnessed a correction move back towards the breakout levels. Technically, previous resistance zone acts as a support and we are now witnessing the formation of bullish candlestick pattern (Matching Lows) on the said support zone (940). In addition, Momentum oscillator across all major time frames is placed in positive zone supporting the buy call. Looking at all the evidence we sense a resumption of the prior uptrend. Thus, we recommend buying this stock at current levels for a target of Rs 1,013 over the next 14-21 sessions. The stop loss should be fixed at Rs 918.''
3. Dabur India View-Bullish Last Close-Rs. 314.55
''The stock has given a rare pattern breakout known as ''Diamond'' on the daily chart. The said bullish breakout after a strong consolidation of two months is witnessed with above average volume and bullish candle stick pattern. On the higher time frame, weekly chart prices have sustained above the horizontal line which acted as resistance since last one year indicating a long-term bullish breakout. In addition, we are also witnessing a bullish crossover in RSI with its smoothened moving average. Technically looking at all the above scenario a strong upside cannot be ruled out. Thus, we recommend buying this stock at current levels for a target of Rs 336 over the next 14-21 sessions. The stop loss should be fixed at Rs. 304.''
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