Below is the transcript of Stock tips given by Ashish Kyal, CMT on ET Now.
LIC Housing Finance 60 mins chart:
LIC HOUSING FINANCE BUY ON DIPS TOWARDS 640 SL 625 TGT 665
This stock is intact in upward moving channel from last 2 months. Recently prices reversed from the channel support and moved higher with strong momentum. In an outperforming stock buy on dips is the ideal strategy which can provide favorable risk reward ratio. Along with this Elliott wave also suggests that rise witnessed in last few months is impulsive in nature where it becomes easy to spot the trading opportunities.
Bank of India 60 mins chart:
BANK OF INDIA BUY AT CMP 153.40 SL 147 TGT 162
PSU Bank sector has continued to outperform over last few months. Bank of India is in uptrend. 50 periods Exponential Moving average is providing important support and ideal zone to enter long positions. Along with this, 39 hours Time cycle is also helping to capture the short term bottoms.
Lead April 60 mins chart:
MCX LEAD SELL AT CMP 142.70 REST AT 142.30 SL 144.20 TGT 140-139 – This call was given to our Commodity tips subscriber on 18th April based on the above techniques
Prices are intact within the downwards sloping blue channel and post touching the channel resistance in form of wave x it exhibited a sharp move on downside. As an important thing to notice is that wave x formed a pennant pattern and completion of the same indicated that the trend has resumed on downside.
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