Parag Milk Longs were initiated when stock was trading at 88 and again at 105 last year, stock almost doubled and tested 157+ levels in May 2021 and now witnessing healthy correction. Stock has completed 61.2 % correction of entire rally from 94 to 157 and now getting some support. We expect stock to consolidate between 118 to 126 for some period before fresh move. We advise you to start accumulation on dips with stoploss below 110. On rallies stock has resistance around 135-144-57. Below 110 we expect stock to test 102-94.
PTC : Stock is looking good on charts and has given more than 2x returns in recent past, Now below 100 stock has good support around 89-92 while major resistance exists near 103-105, so wait for fresh entry will be a good strategy. Above 105 we expect stock to rally towards 130 in no time.
Wockhardt : Earlier longs were initiated when stock was at 292, stock rewarded our followers with almost 3x returns, Now stock is in downtrend since May,2021 and still facing resistance around 520-540-55, For any big move this range is to be crossed first, but stock has completed 50% retracement of its entire rally from 147 to 805. Stock has good support around 450, so one can use dips to accumulate with stoploss below 400 and on rallies add more above 555 for targets of 600-680 in coming months.
Ujjivan Small Finance : Stock has wiped out all its listing as well as Covid Rally gains in past 6 to 8 months & trading near lifetime low, lost hope is 23.5-24 range from where one can expect a dead cat bounce of 10 to 20% ( Max 32), Only risk taking traders can enter above 26.5 with targets of 27.75 -29 to 30-31.5. While below 23.5 we expect stock to fall below 20.
