During the period under review after 3rd of July to date market progressed as per the anticipation as we enter in last leg of short term uptrend.
> it was clearly indicated that around 16200 of NIFTY lvl we will be completing one major sequence of uptrend started from 14155 low and swing high made at 16545 lvl as a flick trade.
> Friends we are at the cross road as no of IPO are approaching in the near term will likely to reduce liquidity. However long term trend and prospects are bright and uptrend to continue.
> The overall long term trend and probable TGT remains to be 17500++ with not clear time horizon.
Nifty major support area is at 15500 below that 15123 and below that last important support is at 14911
On the higher side NIFTY is having hurdle at 16122, 16384 and 165450.
“As the stock trades lower each day, what is the volume doing? Right! It is increasing. The volume is confirming the trend. We always check the volume. If a stock is advancing and the volume is declining, then it is not confirming the trend.”
― Fred McAllen, Charting and Technical Analysis
| Name | last trading day gainer | prev trading day gainer | Name | weekly gainer | pre week gainer | Current month gainer | Pre month gainer | |||
| Bse Realty | 2.38 | -0.64 | Bse Realty | 6.14 | -0.6 | Bse IPO | 11.05 | 3.33 | ||
| Bse Metal | 2.14 | -2.43 | Bse IPO | 4.32 | 6.09 | Bse Carbonex | 8.49 | 24.09 | ||
| Bse IPO | 1.71 | 0.45 | Bse Metal | 2.96 | -1.45 | Bse Realty | 5.93 | 4.12 | ||
| Bse Midcap | 0.61 | -0.37 | Bse Midcap | 1.37 | -0.19 | Bse Healthcare | 4.33 | 0.5 | ||
| Bse Healthcare | 0.57 | -0.89 | Bse SmallCap | 1.2 | 2.28 | Bse Metal | 4.3 | -0.97 | ||
| Bse GreenEx | 0.46 | -1.03 | BSE Utility | 1.05 | -1.47 | Bse SmallCap | 3.93 | 5.53 | ||
| Bse Carbonex | 0.41 | -0.02 | Bse Power | 0.99 | -4.26 | Bse Midcap | 2.21 | 2.92 | ||
| Bse SmallCap | 0.39 | -0.09 | Bse Capital Goods | 0.81 | -1.33 | BSE Industrial | 0.98 | 2.79 | ||
| Bse Power | 0.28 | 0.21 | Bse Banks | 0.55 | -1.44 | BSE Utility | 0.8 | 0.89 | ||
| From the above secorial index now we cand clearly say that which sectoer is likely to be in limelight or will perform |
| On Friday daily winner secter was Reality and Metal |
During last week winer was Reality and IPO and metal
| During current month clear winer was IPO / Carbonex / Reality and Healthcare along with Metal |
| The comparision is made in DAILY, WEEKLY AND MONTHLY along with their resepective prev time frame |
| So from above table Reality and metal secter is particpating and gaining in all time frame in TOP 3 secter |
Reailty and metal is a gainer in all the 3 time frame clarly indicates that in the coming near trime frame Metal and Reality are most likely to perform. One more secter i.e. Carbonex secter is entering in buy setup and we have to look in companies comng in this secter
Stock specific movement and is expected to be good
This time I have selected 3 stocks for investment,
Kitex Garment,
Avantal and
3) OAL i.e. Oriental Aromatics Ltd
Now let is fine some basic technical structure and trend of KITEX
The monthly trend toped at Rs 388 and entered in corrective mode. Made low of Rs 70. Thereafter stock moved in consolidation phase and followed buy bounce to form high of Rs 171 in January 2020 and made a perfect higher bottom at Rs 74 during 23rd March 2020 in panic.
Since then stock was in consolidation and made rising parallel trend channel (as shown).
Now on last trading day stock close above its recent 2 intermediate top of Rs 140 and it has rendered bullish breakout
The Bullish breakout observed in monthly downward resistance line and closed above the trend line resistance area.
Stock is worth buying for short term as well as for medium term investment
Probable TGT is rs 155 ++ 201 and 213 in
AVANTEL LTD RS 600
Long term to short term investment idea.
On monthly chart it has formed a perfect rounding bottom
Closed near the periphery of the previous high
In fact on last trading day closed above Monthly high of Rs 594.77
This indicates clear breakout. As stock moved up substantially from last swing low of Rs 322 to 648
Need to be slight cautious and it is clearing entering in Buy on decline status.
Buy Range is Rs 600 to Rs 550 with a swing trading SL of Rs 545
Target would be Rs 850 to Rs 1000 in 6 to 8 months’ time frame
OAL: Oriental Aromatics Rs 856
Company is engaged in the Business of manufacturing Fine chemicals i.e. camphor, perfumery & specialty aroma chemicals, fragrances and flavors.
Technically stock is in uptrend with higher top and higher bottom as per Dow Theory
Monthly chart started up trend from Rs 116 to 680 followed by correction of very subnormal of less then 38% and made a bottom at Rs 545 and resume to fresh up to form a new top at Rs 946.
Now recently again it has corrected last swing from Rs 545 to 946 by 50% indicating correction is over and And current month is very positive.
Buy at CMP and add on decline up to rs 800
TGT price is Rs 925 – 1005 – 1080
Enjoy investing and Happy trading
DRS 7666747902
