Contact Us | Log In
Search
Sensex: 33322.3 -20.50 Gold: Rs.29654.00
Nifty: 10273.9 -9.70 Silver: Rs.39847.00
Technical Calls: Buy Balkrishna Ind and Indiabulls Real Estate - IndiaNotes.com
Technical Calls: Buy Balkrishna Ind and Indiabulls Real Estate
SMC | Published: 12 Jun, 2017  | Source : IndiaNotes.com

Balkrishna Industries:

 

the stock closed at Rs1589.80 on 09th June 2017. It made a 52-week low at 650 on 24th June 2016 and a 52-week high of 1623 on 08th June 2017. the 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 1216.42


As we can see on charts that stock is continuously trading in higher highs and higher lows on weekly charts, which is bullish in nature. Moreover, it was in consolidation zone for two months and formed an “Inverted head and shoulder” pattern on daily charts which also suggest further buying in near term. therefore, one can buy in the range of 1570-1580 levels for the upside target of 1730-1760 levels with SL below 1500 levels.


Indiabulls Real Estate:


the stock closed at 176.75 on 09th June 2017. It made a 52-week low at 57 on 22ND November 2016 and a 52-week high of 179.50 on 16th May 2017. the 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 106.06


After testing yearly high of 179 levels, stock was consolidating in the range of 155-170 levels for four weeks, forming Continuation Triangle pattern on daily charts. In the last traded week stock ended over 6% gains and gave the breakout of pattern with rising volume so we anticipate that buying momentum may continue for coming days. therefore, one can buy in the range of 172-173 levels for the upside target of 195-200 levels with SL below 158.

 

  Read full report Click here to read the full report


About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


For more information please write in to editor@indianotes.com

 
Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.
logo
BSE : 2,099.00 +15.25
(0.73%)
NSE : 2,091.65 +11.85
(0.57%)
Read More