GROUND MOVING TARGET INDICATOR
Stock Radar: This cement stock breaks out of Pole & Flag pattern to hit record highs; time to buy?
After surging over 60% in a year, the cement stock broke out of a classic Flag pattern this week, propelling it to a new record high of Rs 2,836 on July 11, 2024. This breakout, recognized as a bullish continuation pattern in technical analysis, indicates the potential for further upward momentum.
Nifty Bank outperforms benchmark indices; strong support placed at 52,000: Experts
Led by gains in AU Small Finance Bank, SBI, Bandhan Bank, and The Federal Bank, the banking index rebounded from a dip to the 51,800 level, closing higher and signaling continued bullish sentiment despite selling pressure on HDFC Bank and ICICI Bank.
Stock Radar: Multibagger in a year! This lubricant stock forms Rounding Bottom formation; what should investors do?
Tide Water Oil (India) Ltd. stock surged 123% over a year, breaking out from a Rounding Bottom pattern on weekly charts. Analyst set a target price of Rs 2,800 with a stop loss at Rs 1,800. The stock is above 21, 50, 100 WEMA, tracked by RSI above 70, and daily MACD.
Under Bhashini, IISc to open source 16,000 hours of speech data
Bhashini’s Vaani project, led by IISc-ARTPARK and Google, is open-sourcing 16,000 hours of speech from 80 districts and 150,000 hours from one million people across 773 districts in India. The Gates Foundation funds it. The project records 200 hours per district, supporting AI development in 58 language variants, with Karya assisting data collection.
Commercial vehicle sales surpass expectations, indicating strong economic activity
Sales of commercial vehicles increased last quarter, driven by strong replacement demand and continued government infrastructure spending. More than 234,000 trucks and buses were sold in the local market in the three months ended June, exceeding expectations. This marks a 4.5% rise compared to the 224,000 vehicles sold in the same period last year.
Stock Radar: Breakout from Head & Shoulder pattern could take Mphasis to fresh 52-week highs in 1-3 months
Mphasis Ltd, part of the IT sector, shows potential for short-term traders with a breakout from an inverse Head & Shoulder pattern. Experts recommend buying the stock with targets of Rs 2,850 and Rs 2,960 in 1-3 months.
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F&O radar | Deploy Bull Call Spread in Tata Motors to benefit from potential up-move
Tata Motors stock shows strong bullish momentum supported by technical indicators, suggesting potential upside movements with a Bull Call Spread options strategy for traders anticipating a moderate rise in price.
Stock Radar: Page Industries back above 40,000; stock breaks out from 15-month consolidation
Page Industries Ltd breaks out from a consolidation phase, supported by key technical indicators, suggesting a bullish trend ahead with targets set at 43000-46000. Traders can consider accumulating the stock within a specified range for potential gains.
Axis Securities initiates coverage on Inox Wind, sees upside potential of 30%
Domestic brokerage firm ICICI Securities initiated coverage on Inox Wind (IWL) with a target price of Rs 185 stating that the company is well-positioned to benefit from the tailwinds in the wind sector.
Stock Radar: Traders could consider Deepak Nitrite after a swift 20% rally from June low; could hit fresh 52-week high
Deepak Nitrite Ltd, a specialty chemical stock, witnessed a swift 20% rally from the June low, making it a tactical buy at current levels. Short-term traders with high-risk profiles could look at buying the stock on dips for a target of 2,800-3,000 levels in the next few months, as suggested by experts.
Stock Radar: This pharma stock breaks out from 13-week consolidation to hit record highs; time to buy?
Cipla Ltd, a leading pharma company, broke out to a new high from a 13-week consolidation, supported by technical indicators. It moved in a range after hitting a high of 1,519 in March 2024.
F&O Radar: Deploy Bull Call Spread in JSW Steel to capitalize on potential up-move
From April onwards, JSW Steel prices have consistently formed higher highs, indicating an upward trend. On the downside, the stock has found support around the 830 levels.
Stock Radar: Nearly 20% fall from highs! Bata India showing signs of a rebound
Bata India has experienced a 20% decline from its recent high in August 2023. However, experts are now seeing signs of improvement in the stock. Short-term traders are advised to consider buying the stock with a target price of Rs 1,520 over the next 3-4 weeks.
F&O Radar | Deploy Debit Spread in Wipro to capture potential up-move
Since April 2024, Wipro's prices have been fluctuating within a wide range of 435 and 468 levels, while also remaining close to its short-term moving averages.On Monday, the share price managed to maintain its position and close above its 10-day exponential moving average, reaching Rs 461, which is in proximity to its broader resistance level at 468.
Stock Radar: This financial services stock gave multibagger returns of over 300% in 1 year; what should investors do now?
HUDCO, a financial institution, has surged over 300% in the past year, with chart patterns indicating potential for further growth. Short-term traders are advised to buy the stock for a target price of Rs 295 based on expert recommendations. The stock hit a record high of Rs 277 on May 23, 2024 and is trading well above crucial moving averages.
Stock Radar: RCF breaches 3-month consolidation range; should you buy this fertiliser stock?
The fertiliser stock hit a record high of Rs 190 on January 20, but the rally fizzled out and it witnessed a steep decline dropping below crucial moving averages. It took support around 120 levels in March 2024 and bounced back. Although the journey remained volatile, it managed to reclaim crucial moving averages, which suggests that bulls are taking control.
F&O Radar: Deploy Bull Call Spread to capitalise on potential upside in HDFC Bank
HDFC Bank's technical analysis suggests bullish momentum with higher lows and promising candle formations. Analysts anticipate a breakthrough above resistance at Rs 1525, targeting Rs 1560. Option strategies like Bull Call Spread are recommended for potential upside gains.
Stock Radar: Multibagger returns in less than 1 year! This green NBFC player is poised for continued growth
IREDA has rallied by about 190% since its November 2023 listing. After reaching 215 in February, the momentum in the stock fizzled out. It continued to drift lower and found support above 120 levels in March. The stock is trading well above most of the crucial moving averages such as 5,10,30,50 and 100-DMA on the daily charts.
ITC Q4 Results: Net profit drops marginally to Rs 5,020 crore
Revenue from operations went up by 1.4% at Rs 17,752.87 crore in the period under review. The company said excluding the agri-business (which was severely impacted due to government restrictions in trade of agri-commodities), the company’s gross revenue during the fourth quarter has gone up by 6% y-o-y.
TRADERS’ CORNER: Healthcare stock set to rise 6% and metal gets ready for 7% rally
The Nifty opened lower and ended the day with modest gains after spending the day in a capped and narrow range.
TRADERS’ CORNER: Exploration stock likely to rise 8% and defence may gain 6%
Nifty Nifty opened on a lower note but recouped its opening losses to trade in the positive territory. It closed with a gain.
F&O stocks: M&M, Dixon Technologies among 5 stocks with long buildup
A long buildup is formed when a stock price moves up and also the open interest on a counter. The signal is more dependable when the volume on a counter also sees an increase.
Options Radar: Deploy Bull Call Spread on Axis Bank as outlook not very aggressive
Axis Bank has been in a broad range since November 23 and has been fluctuating between Rs 1,021.60 mark on the lower side, and Rs 1,150.95 on the upper side. The stock managed to breach the resistance one to create a new all-time high of Rs 1,182.90 on April 30.
Stock Radar: Record high in May! Breakout from Triangle pattern makes Astral an attractive buy
Short-term traders can buy the stock for a possible target above Rs 2,400 in the next 1-3 months, experts advise. The capital goods stock witnessed a breakout from 2,000 levels, which also coincides with the upper trendline of the triangle pattern on the daily charts earlier in May 2024.
Stock Radar: Piramal Enterprises shows signs of bottoming out after 27% fall from highs; is it a contra buy?
After falling over 27% from its September 2023 highs, the stock price shows signs of bottoming out. It hit a 52-week high of Rs 1,140 in September. It found some support above 800 levels in March 2024 and bounced back.
Stock Radar: Up 13% in a week to hit 52-week high! This FMCG stock breaks above 3-year consolidation; time to buy?
The recent price action also helped Marico stock break out from a 3-year consolidation range. Now, a break above the record high (606) will open room for the stock to head higher towards 650-670 levels. FMCG stocks are in focus amid volatility seen in the markets.
EPC major and a healthcare service provider power up their stocks for 5% run
Nifty started negative but managed to get into the positive zone. It was pushed back but kept trying to maintain the advance. The index finally closed at the same level as the previous close.
Aurobindo Pharma Options Radar: Use Bull Call Spread to capture uptrend
Aurobindo Pharma's stock shows resistance at Rs 1177, with a promising technical outlook. Traders are advised to consider a Bull Call Spread strategy proposed by Mehta for potential upside movements.
Titagarh Rail shares jump 9% after Morgan Stanley initiates with overweight rating
Titagarh Rail Share Price: Morgan Stanley sees freight as a significant revenue generator for Titagarh, while also acknowledging the potential of the passenger business for growth. The firm anticipates an impressive 28% earnings compound annual growth rate (CAGR) for Titagarh over the period spanning FY 24-27.
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