Sunday, July 28, 2013

Top ten trading strategies for the coming week

28 Jul, 2013(7STARNEWS)Here is a list top ten trading strategies for the coming week:

Analyst: Renu Goel - Analyst, Derivatives & Technical Research at Trend-Wise:

Tata Global Beverages (BUY / CMP: 156.7 Target1: 167 Target2: 174)

Tata Global scaled above medium term resistance around Rs 152 and has been consolidating above that range. With momentum seen gathering again, the stock can now rally to Rs 167 & 174 in the short to medium term. The stock can be bought at current levels with a stop loss at Rs 151.

Hero Motocorp (BUY / CMP: 1865.45 Target1: 1938 Target2: 2127)

The stock is showing signs of making a durable medium term bottom after completing a \'Head & Shoulder\' reversal pattern on good volumes. Weekly candle closed near highs signifying momentum.

Though the medium term targets are much higher, but for the short term one can look at entering at current levels or on a pullback for targets of Rs 1938/2127 where Hero MotoCorp may face resistance from previous highs.

Hindustan Unilever (SELL / CMP: 663.70 Target1: 630 Target2 600)

After the spectacular rally in the first half of 2013, the stock is showing signs of trend exhaustion & is expected to show some retracement. Short buildup is visible and one can consider selling HUL for targets of 630 and 600 with a short to medium term horizon. 682 can be used as a stop loss level.

Coal India (SELL / CMP: 282.25 Target1: 267 Target2: 258)

Coal India could not hold its long term support level around Rs 290 and has broken down to its all-time lows with a bearish continuation pattern. Weakness is gathering momentum and the stock could sink towards 267 and 258 in short to medium term.

Bharti Airtel (BUY / CMP: 337.2 Target1: 369 Target2: 385)

Bharti Airtel has rallied since June to break out of a 17-week sideways range that now promises further upsides in the stock. Resistance at Rs 330 should reverse roles as support and one can look at accumulating at current levels. A strong close below Rs 330 will be a warning sign for longs and can be used as a stop loss.

Analyst: Gaurav S. Ratnaparkhi, Technical Analyst at Sharekhan Ltd:

HDIL: SELL, SL 39.65, TGT 32.50

The stock was trading in a range bound manner for the last several days. In terms of price pattern it has formed a distribution triangle and has broken out on the downside. Sharp contraction in the daily Bollinger Bands shows that a sharp move is in the offing, which has a high probability to unfold on the downside.

PNB: SELL, SL 625, TGT 522

The stock was trading in between two converging trendlines, which have taken form of a bearish triangle. In the last session the pattern has broken on the downside. Along with the price breakout, the daily momentum indicator has given a fresh sell signal.

Indiabulls Real Estate Ltd: SELL, SL 71.50, TGT 61.20

The stock has recently completed a channelised pullback and has resumed with the larger downtrend. It has fallen below its crucial daily moving averages. Daily momentum indicator has turned in favor of bears, whereas weekly momentum indicator is already in a bearish mode.

Jubilant FoodWorks: SELL, SL 1218, TGT 1010

The stock has recently formed a five wave advance. To end the last leg of the advance the stock has formed an Expanding Ending pattern and has entered correction mode. Daily momentum indicator that has been showing negative divergence has given a sell signal.

Tata Motors: SELL, SL 303.30, TGT 260

After a five wave decline the stock has recently formed a three wave pullback. The same got over at Rs 303 and from there the stock has started falling down.

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