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3 Solid Positives And 1 To Stay Away From, What To Wait For!

By Kiran ShroffStock MarketsNov 09, 2018 11:16
in.investing.com/analysis/3-solid-positives-and-1-to-stay-away-from-what-to-wait-for-200205969
3 Solid Positives And 1 To Stay Away From, What To Wait For!
By Kiran Shroff   |  Nov 09, 2018 11:16
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Nifty 50 index has behaved positively in the last few sessions and closed very close to its resistance level of 10600. If it manages to close above it and sustain, it may challenge the 10800 level. On the downside there is support between 10400 and 10000 points. Lets see if this year's Diwali special session has set the market tone already or not.
We have found out four possible opportunities for you that may prove to be good bets in the short to medium term.

Century Textiles (NS:CNTY) & Ind (CENTURYTEX.NS) Close: 867.10

CENTURY_medium term
CENTURY_medium term

Century Textiles & Industries Limited has broken through the ceiling of a falling trend channel in the medium term. After falling by almost 50 percent from its top in January, the stock has pulled itself up and established a double bottom formation along with the breakout from the resistance at 850 rupees. Further rise to 920 or more is indicated.

Volume balance and momentum indicator has been in favour of this recent price rise which is a positive sign. On the downside there is support between 850 and 830 rupees.
Investtech's outlook (one to six months): Positive

Marico Limited (NS:MRCO) (MARICO.NS)) Close: 339.65

MARICO_medium term
MARICO_medium term

Marico Limited shows strong development within a rising trend channel in the medium term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. The stock has support at rupee 332 and resistance at rupee 382.

Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The stock is overall assessed as technically positive for the medium term.
Investtech's outlook (one to six months): Positive

Trident (NS:TRIE) Limited (TRIDENT.NS) Close: 71.85

TRIDENT_medium term
TRIDENT_medium term

This one looks really interesting.
After almost being sliced to half, Trident Limited stock prices have had a great comeback. The stock broke out through the ceiling of the downward trend channel and given a breakout from two inverted head and shoulders formation. The stock is just below its short term resistance at 74 rupees. If broken and close above this level, the stock may rise up to 92.50 levels or more. There is support between 67 and 62 rupees.

Volume balance indicator is very positive that suggests buyers at every level of price rise. RSI is also above 70, which suggests good price increase in the past weeks.

Only due to the nearness of the resistance level, our recommendation in the stock is weak positive instead of a clear positive in Trident limited.
Investtech's outlook (one to six months): Weak Positive

Hexaware Technologies (NS:HEXT) (HEXAWARE.NS) Close: 312.40

Please refer to the analysis of HEXAWARE in the original post.

The analyses are based on closing price as per October 17, 2018. Maintaining proper stop loss is always recommended.

Disclaimer: All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.

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3 Solid Positives And 1 To Stay Away From, What To Wait For!
 

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3 Solid Positives And 1 To Stay Away From, What To Wait For!

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vitthal akoliya
vitthal akoliya 22 hours ago
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good information ☆☆☆
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Dhinakaran Padmanabharaju
Dhinakaran Padmanabharaju Nov 10, 2018 13:46
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good article
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keshav dhoke
keshav dhoke Nov 09, 2018 17:35
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interesting
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vikram raghuwanshi
vikram raghuwanshi Nov 09, 2018 13:49
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Nice
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tejinder singh
tejinder singh Nov 09, 2018 13:24
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nice analysis
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