Midcap index is consolidating and just moved out to give a breakout on upper side. I just came across this stock and just noticed a interesting trendline on the month chart. The stock has been taking support at that line since 2001 and today its is trading around the same level. We would recommend to go long for holding it for almost 2-3 years. Secondly it has a good dividend yielding record as follows,
Lead (Sept) Mcx has seen a Non stop sliding from a year high of around 155. now its time for some bulls to get on the Power. As you could notice, Lead is currently consolidating around the strong support line since last few days which could be a simple buy zone. On the other hand, indicators are oversold and expiry being near we could see a short unwinding in coming sessions. Only negative characteristic on the chart is that Lead is trading below all short term moving averages but it is taking strong support at 100 EMA situated around 128. So our strategy is to go Long near to 129.60 tgts 136/142 with Closing SL of 127
Cotton Seed Cake (Cocudakl) December expiry is trading at a string support line which has been tested twice before in last 3 years. With Some simple logic it is trading in a upside channel as you could notice in the attached graph. Currenctly it is at the downside line or you may say at the best possible price to enter. Indicators on daily charts are totally oversold and its trading below all the short term averages. For Short Term traders its clear buy at CMP of 1449 tgts 1463/1488/1513 with sl of 1428 where as for Long term investors also its a buy but with larger SL of 1414 as the weekly charts havent been strong bullers yet. For trading tips on commodities follow us at @chartechnician on twitter and Facebook page Chartechnician
Our strategy is status quo for investors while traders could add to shorts below 3063 with old tgt 3044 and extended 2990. For traders now trailing SL is 3174(closing)
Strategy: HOLD our initiated long on Index and Also Hold 6000 PUT. Square of Nifty at 6000 on Downside and book profit on PUT at 5840. On upisde its party for us!!
Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market.