Some of our cash equity stocks Chart studies for coming days
Breakout stocks
Vardhman Textile :
Stock has given symmetrical Triangle breakout on daily charts and can be added for smart bounce between 300-306. Minor resistance are placed near 317-21(50dMA) and 330-32(100dMA). Support is placed at 294. Technical Indicators such as CCI, RSI, MACD are in buy mode.
Va Tech Wabag :
Stock is in uptrend since formed double bottom at 100dMA line recently. On Friday stock moved beyond both the critical moving averages (20 and 50) with heavy volumes. Trade long above 341 for 372-92 in short to medium term while support is placed at 325 exit can be taken if trades below 320. Technical Indicators such as ADX, CCI, RSI, MACD are in buy mode.
Tamilnadu Newsprint and paper
Stock has given breakout from descending triangular pattern with good volume and successful close above 50 and 100dMA. We expect stock to move 20-30% in short to medium term. Stock has good support at 236 (5%), while stoploss can be placed at 230(7%). Technical Indicators such as ADX, CCI, RSI, MACD are in buy mode.
At support
DishTV
stock is in downtrend for last two months and now getting some support around 14.75. One can try longs for 16.5-18.50 till stock is above 14.50. Below 14.50 we expect stock to test 11.50-8.
Kaveri seeds (KSCL)
Stock is looking good on charts and an inverted Head and Shoulder pattern in making is also visible. Once stock trades and sustains above 540 we expect stock to move towards 570-615-700 in coming weeks. Stoploss can be placed at 490 while support exists at 520-505.