Skip to main content

Buy Sun TV Network, target Rs 1040

The stock may be bought in the range of Rs 918-922 for a target of Rs 1,000-1,040, with a stop loss below Rs 875.

  

On the weekly chart, Sun TV Network has resumed the uptrend after taking support at the neckline of the channel pattern indicating bullishness dominant in the stock.
Further, the stock witnessed buying on good volumes as it approached trendline breakout level of Rs 942. A successful breakout and sustained trade above this can extend the uptrend.
RSI has entered in the bull zone affirming bullishness. The stock may be bought in the range of Rs 918-922 for a target of Rs 1,000-1,040, with a stop loss below Rs 875.
MORE WILL UPDATE SOON!!
Labels:

Comments

Post a Comment

Popular posts from this blog

Buy Axis Bank for target of Rs 725

Stock can be bought at current levels and on dips to Rs 620 with stop loss below Rs 600 for target of Rs 725 levels. Axis Bank has formed symmetrical triangle pattern on weekly chart and trading in a range of Rs 650 and Rs 350 odd levels for almost three years now. On daily chart stock has seen sharp bounce back from 200-day moving average. For last couple stock has been facing at Rs 640-650 zone but forming higher lows. Thus, forming bullish ascending triangle pattern on daily chart. Relative strength index and Stochastic have given positive crossover with their respective averages on daily chart. On monthly chart ADX ine indicator of trend strength is moving up from neutral level of 20 suggesting strength emerging long term trend. Thus, stock can be bought at current levels and on dips to Rs 620 with stop loss below Rs 600 for target of Rs 725 levels. MORE WILL UPDATE SOON!!
Post a Comment
Read more

Accumulate ABB, target Rs 1,370

Traders can accumulate the stock in the range of Rs 1,230-1,240 for the target of Rs 1,370 and a stop loss can be placed below Rs 1,182.    On the weekly chart, an engulfing pattern is visible in ABB which suggests waning bearishness among the traders. On the daily chart, the price has moved above 13-EMA in its recent price action which shows the growing optimism in the stock. In addition, positive divergence is visible in the momentum indicator RSI (14), on the daily chart. Traders can accumulate the stock in the range of Rs 1,230-1,240 for the target of Rs 1,370 and a stop loss can be placed below Rs 1,182. MORE WILL UPDATE SOON!!
Post a Comment
Read more

Buy Ajanta Pharma

We believe Ajanta Pharma is in a sweet spot and this valuation justify for the company and have a buy rating. USFDA cleared Ajanta Pharma’s Dahej facility which was built with a capex of Rs 500 crore. While, the first block of its Guwahati facility which is dedicated for derma products started production during FY18, while the second phase’s expansion is underway and may see stabilisation by October 2018, company expects a contribution will start coming in FY20. Apart from ramping up facilities and increasing capex company has also plans to acquire brands in India and abroad to supplement growth. In India, most of its core brands have stabilised and are showing growth.   Management also aims to strengthen its domestic presence. Apart from spending over Rs 800 crore in the last three years, it further plans to do capex of Rs 500 crore over a couple of years. Most of this capex will be spent on Guwahati facility’s second phase. We believe Ajanta Pharma is in a sweet spo...
Post a Comment
Read more