Avenue Supermarts on the verge of a breakout, may rally 13% in 3-4 weeks

-

A move beyond 11300 can extend the short-covering rally taking it higher to levels of 11350-11370. A sustained trade above this DMA support may trigger short covering.





Nifty50 continues to be in the clutches of the bears forming lower lows for eight consecutive trading days after failing to cross its previous session high.

The Nifty is approaching its 200-DMA placed at 11,133. A breakdown from this support can extend the corrective move towards levels of 11,100.


However, a sustained trade above this DMA support may trigger short-covering, taking it to the levels of 11,300.

A move beyond 11,300 can extend the short-covering rally taking it higher to levels of 11,350-11,370. Moreover, RSI is sitting at extreme oversold zone suggesting a possible short-covering rally in the coming sessions.

Here is a list of top three stocks which could give 6-13 percent return in the next 3-4 weeks:

HCL Technologies Ltd: Buy | LTP: Rs 1,015 | Target: Rs 1,070-1,120 | Stop Loss: Rs 960 | Upside: 6-10 percent

On the daily chart, HCL Tech has taken support at its previous cluster of troughs placed between Rs 1,000-1,005 and turned upwards suggesting strong demand zone around Rs 1,000.

Moreover, it is on the verge of a breakout from a downtrend line resistance placed at Rs 1,025. A sustained trade beyond the trendline can resume the bull trend.

RSI has formed a positive divergence with respect to the price which confirms that the downtrend is losing steam.

The stock may be bought in the range of Rs 1,000-1,020 for targets of Rs 1,070-1,120, and keep a stop loss below Rs 960.

Thermax Limited: Buy | LTP: Rs 1,136 | Target: Rs 1,240-1,270 | Stop Loss: Rs 1,075 | Upside 9-12 percent

On the daily chart, Thermax Limited is on the verge of a breakout from the neckline of a Cup and Handle pattern placed at Rs 1,150. A successful breakout backed by healthy volumes will take the stock higher towards levels of Rs 1,240-1,270.

Further, on the weekly chart, it is on the verge of a breakout from a Triangle pattern neckline which is also placed at Rs 1,150. Breakout from this Triangle will resume the upward journey.

The RSI has also turned higher after taking support at the lower end of the bull zone i.e. 40 favoring the bulls. The stock may be bought in the range of Rs 1,130-1,140 for targets of Rs 1,240-1,270, and keep a stop loss below Rs 1,075.

Avenue Supermarts Limited: Buy | LTP: Rs 1,449 | Target: Rs 1560-1640 | Stop Loss: Rs 1,375 | Upside 8-13 percent

On the daily chart, Avenue Supermarts Limited is on the verge of a breakout from a trendline resistance placed at Rs 1,475, a sustained trade beyond this trendline will trigger a breakout on the upside taking it higher to levels of Rs 1,560-1,640.

Moreover, the stock is trading above its major moving averages indicating that the bulls are back in control and it is poised for an upside breakout.

Further, RSI has turned upwards from the 50-zone suggesting bullishness. The stock may be bought in the range of Rs 1,440-1,450 for targets of Rs 1,560-1,640, and keep a stop loss below Rs 1,375.



Best Share Market News, Click Here To Get More News - Stock Market tips, for 2 Days Free Trial give a missed call @9644405057 and Get Share Market Services.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

Axis Bank agrees to buy to payments wallet provider FreeCharge for $60 million

-
Image
Axis Bank Ltd, India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from e-commerce company Snapdeal for 3.85 billion rupees ($60.04 million). Most valuable Financial Advisory with the name of accurate tips provider here invites you to trade in a financial market with risk-free work click here for more >>  http://www.ripplesadvisory.com/free-trial.php "Digital payments in India are surging. Government policies are driving a less-cash economy," Axis Bank finance chief Jairam Sridharan told a news conference after announcing the deal.
Read more

Axis Bank Declines after Reporting Tepid Q4 Results

-
Image
For more Live premium stock future Visit Us:- http://ripplesadvisory.com/premium-stock-future-.php or Get Free Trials Just Call @96-44-40-50-56. Axis Bank declined 1.72% to Rs 508.40 at 9:40 IST on BSE after net profit dropped 43.13% to Rs 1225.10 crore on 4.33% rise in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 26 April 2017. Meanwhile, the S&P BSE Sensex was down 29.63 points or 0.1% at 30,103.72. On the BSE, 5.08 lakh shares were traded on the counter so far as against the average daily volumes of 9.17 lakh shares in the past one quarter. The stock had hit a high of Rs 525 and a low of Rs 503.60 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017. The stock had outperformed the market over the past one month till 26 April 2017, rising 5.74% compared with the Sensex's 2.42% rise. The sc...
Read more