Stocks Picks For Wednesday, June 9, 2021

  • Stock Market Analysis

Indian Stock Market to open flat. The market is likely to consolidate and would be considered strong until it holds above 15597 for Nifty . Following stocks looks technically strong for the short term and traders can go long in these at the dip in the market.

Indus Towers Ltd


NSE : INDUSTOWER   BSE :534816  Sector: Telecomm Equipment & Infra Services

Indus Tower Ltd stock prices have been trading in the form of higher highs and higher lows formation for the past 4 sessions. As per the simple bar technique, this indicates positive bias. Along with it, prices manage to close above the upper Band Bollinger. As shown on the daily chart pattern, the price has given a breakout out of Ichimoku cloud but closed below upper cloud hence buying may emerge if stock is able to give breakouts of its upper cloud again.

In short, INDUS TOWER has continued to trade in the positive zone. Now a move above 259.50 will confirm the uptrend and open up gates for higher levels towards 268. As far as 254 remains intact on the lower side.

Britannia Industries (NS: BRIT ) Ltd


NSE: BRITANNIA   BSE:500825  Sector: FMCG

In the daily time frame of Britannia Industries, we are seeing the impulse wave pattern formation. The primary stage of wave 3 is ongoing on the upside wherein wave 2 has completed near 3360 levels. As per Fibonacci projection, prices have started rising after taking support of 38.2% extension level and currently placed above 50% of Fibonacci support. Positive bias was made with the help of 200 EMA support.

In short, the trend for Britannia Industries Ltd looks to be positive for now. We can expect it to reach a target of 3735 levels based on our analysis. One can book partial profits near the 3655 levels to ensure risk is reduced and trail the stop loss of the remaining position at cost. This outlook is valid as long as the 3542 level remains protected on the downside.

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  • Banty Sandhu @Banty Sandhu
    Friday info sir ji
    Like 0
  • Trading Fast @Trading Fast
    What about Bhartiairtel next week target?
    Like 0
  • PARTHA KINKAR ROY @PARTHA KINKAR ROY
    wrong
    Like 0
  • Vittal Choudary @Vittal Choudary
    thanks sir
    Like 0
  • Jakirlafawala Jakir @Jakirlafawala Jakir
    thanks sir
    Like 0
  • DAYANAND PATIL @DAYANAND PATIL
    thank
    Like 0
  • santosh Rao @santosh Rao
    thanks for the info sir
    Like 0
  • Nalin Vora @Nalin Vora
    Say about biocon
    Like 0
    • Kamal Sangar @Kamal Sangar
      420 possible in one week
      Like 0
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      100
  • Uma Sagar @Uma Sagar
    Thank you sir for this information
    Like 0
  • Ashok Khade @Ashok Khade
    Great Sirji, keep it up.
    Like 0

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