SBIN

The counter has been trading in the range of 249 to 250 for the last few sessions. However during last session it formed a very strong bullish candle on a daily chart. Besides it has been consistently respecting its 20 & 50 DMA on a closing basis. With other technical indicators turning quite bullish we expect the counter to continue its northward journey in near future. 257 is the next major hurdle as per daily & weekly analysis. Any close above 257 and we may see non-stop rally up to 270-275 levels. Reasonable SL is below 240.

Disclaimer: We have already initiated positional long on the counter from 241 levels to our paid subscribers.

Heromotoco

The counter today pared all Intraday gains  and again found a stiff resistance around 2680 levels. Today's move was backed the decent volumes. Though the counter is consistently respecting its 200 DMA, looking at today's reversal it seems that bears took the full control of the day and it might be vulnerable in coming sessions. Besides other technical indicators too are looking weak reinforcing the bearish view. Short position can be initiated at current levels with SL of 2635 for probable down fall up to 2510-2502 levels.

Havells India

The counter witnessed a very sharp bounce back from its strong support area around 238 marks. It quickly captured its short term moving averages on a daily chart and is consistently respecting them on a closing basis. It seems that it has developed a classical Falling Wedge Chart Pattern on a daily chart. With other technical indicators looking quite bullish we expect the counter to challenge its 200 DMA in a near term. Traders can bet on the counter 263.35 SL 252 (CLS) TGT 275-278.

Nocil Again. : Chart Study of Symmetrical Triangle Breakout.

Earlier we recommended the counter around 43 levels with Price Target of 55 and as per our expectations the counter achieved our Target delivering whopping return of almost 28% in no time. Again after retracing to its key demand zone around 35 levels the counter started steady recovery.

On a daily chart the counter seems to have given a Symmetrical Triangle Breakout with decent surge in volumes. On a weekly chart too the counter is showing very strong momentum. With Technical Indicators looking quite bullish on both daily and weekly charts the counter is expected to continue its northward journey in near term and might challenge its previous high around 55 levels.

SKS Micro : Chart Study of Bulls Trap

The Micro Analysis of Daily Chart of Sksmicro clearly points towards Bulls Trap. It posted a swing low around 360 with the burst of volumes. After consolidating for few days it started its northward journey which was not supported by volumes. Just couple of days ago it posted  intraday low around 436 and showed smart intraday recovery but failed to close above its 200 DMA. During today's session it witnessed gap up opening of more than 5% but gave a poor close and again closed below 200 DMA with quite higher than average volumes. We believe that the current set up is a clear hint of  probable Bulls Trap and expect more panic in the counter in sessions ahead.

HCL Technologies : Exploit the Opportunity

The counter gave false break out on a daily chart around 980 levels and witnessed a vertical fall from there. It found support around 811 levels and started steady recovery. It seems that the counter has formed a strong base around 825 levels during recent past. The increased volumes around its crucial support area of 790 levels indicates accumulation. The risk-reward ratio that the counter offers at current level seems to be quite favorable. Traders can exploit the opportunity  by resorting to buy on dips strategy applying closing stop loss of 790 for the possible upside move up to 945-955 in a medium term.

Adani Port : Swing Trade

The counter after posting a swing low around 293 levels started steady recovery. It witnessed a gap up opening opening around 305 levels and continued its northward journey to kiss its 200 DMA. At times bulls managed to close the counter above its 200 DMA but could hold it above the same. Again today the counter got resisted at its 200 DMA. With other technical indicators turning bearish it seems that the counter may trade with negative bias in sessions ahead. Sell 317.7 SL 324 TGT 307-303.