Thursday, November 28, 2013

Stock tips for the day by Ashish Kyal on Zee Business!

Stock tips for the day by Ashish Kyal on Zee Business!

Nifty trading Strategy: Nifty has been moving within the range of 5970 and 6150. 
As long as this range is intact one can trade by buying near supports and selling near resistances. For today, long positions can be created if prices move above 6080 with 6030 as stoploss and target of 6140.
1. Voltas
Voltas had given Inverse H&S breakout around 85 levels. Yesterday it was up by more than 4% in choppy market. This is showing inherent strength in this stock. We are expecting that this stock has more potential left on upside. One can buy this stock on dips towards 96 with the stop loss of 93 and the target of 105.
2. JSW Steel

JSW Steel is one of the stock which is outperforming the broader market. Stock is forming higher highs and higher lows and trading above the 20 DMA which is positive sign for short term. One can buy JSW Steel on dips to 915 with 900 as stoploss and target of 940.
3. Tata Motors

Despite of market volatility Tata Motors has continued its outperformance. Currently Stock is trading at life time high level and we are expecting it will move higher in coming trading sessions. Yesterday Tata Motors was leading gainer in Nifty. This is aiding positivity in this stock. One can buy Tata Motors on dips to 394 with the stop loss of 385 and the target of 415.
4. Crompton Greaves
In recent trading session we have observed outperformance of Capital goods sector. CromptonGreaves is outperforming the Capital goods sector. One can buy Crompton on dips to 116 with the stop loss of 112 and the target of 125.
5. LIC Housing Finance
We have observed H&S pattern in LIC Housing Finance. This indicates negative sign for short term.  Currently prices are trading below the important moving averages. One can sell LICHousing Finance on rallies towards 206 with the stop loss of 211 and the target of 192.
The above stocks were mentioned in morning on Zee Business and our views might have changed based on market movement.
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