Stocks Picks For Thursday, June 10, 2021

  • Stock Market Analysis

In the previous trading session, it was noticed that the market added more incremental gains in the morning session. However, the second half of the trading session saw a sharp correction. The Nifty index closed the day with a net loss of 104.75 points. A Conservative approach is advisable for the next trading session. Traders can hold long positions until Nifty holds above 15597 on a closing basis.

Following Stocks looks technically strong and positive momentum can be seen in days to come.

Cummins India (NS: CUMM ) Ltd:


NSE:CUMMINSIND   BSE:500480  Sector: Capital Goods-Non Electrical Equipment

As seen on the daily chart, Cummins India share prices are moving in a well-channelized manner. Now the stock is placed exactly at the channel resistance. Now there are two possibilities: either break above or reversed from the same zone. After seeing a correction in the final hour of the market, prices managed to close above Middle Band Bollinger which indicates bullishness. The Relative Strength Index (RSI) on the daily chart is 52.19 which indicates that the long-term trend has turned bullish.

In short, Cummins India seems to be in the final stages of a downside correction.  A break above 826-827 can take prices higher towards 865 and then 910 levels. For the near term, the zone of 791 has now become temporary immediate support for the stock.

Aarti Industries (NS: ARTI ) Ltd


NSE : AARTIIND   BSE :524208  Sector: Chemicals

Aarti Industries made a lifetime high near 1850 levels in the last trading session. We have seen a correction in the second half of the market but on the other hand, the stock managed to close near its immediate support levels which shows strength in the stock. As shown on the daily chart, Prices have given a break out of the Symmetrical Triangle formation. As per Triangle pattern theory, 220 points rally is expected from the support zone. Hence there is more room available for the stock on the upside.

In short, the overall outlook for AARTIIND will remain positive using pullback as a buying opportunity for the move towards 1920 levels as long as we do not see any closing below 20 DMA support.

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  • kalyan singh @kalyan singh
    Thanks
    Like 0
  • Usha Churiwala @Usha Churiwala
    Thank you sir
    Like 0
  • Shekhar Harnalagi @Shekhar Harnalagi
    Thank you sir
    Like 0
  • Maneesh pathania @Maneesh pathania
    adani power??
    Like 1
    • asif nil @asif nil
      @Maneesh pathania blast today
      Like 0
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      100
  • Rohit Kalokhe @Rohit Kalokhe
    tata motors ?
    Like 0
  • Rohit Kalokhe @Rohit Kalokhe
    tata motors ?
    Like 0
  • Pankaj Kumar @Pankaj Kumar
    HINDUNILVR today ?
    Like 0
  • atul sarawagi @atul sarawagi
    sbi today ??
    Like 0
  • atul sarawagi @atul sarawagi
    sbi today ???
    Like 0
  • Ramesh Molugu @Ramesh Molugu
    Thank you
    Like 0

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