Dear All,
3 charts are attached herewith that we think have the best possible chart patterns for this week. The stocks are:
1. Adani Power
a. This stock has broken out of its downward trading channels and now it could possibly begin an uptrend. We advise buying into this stock at levels of 111 for a target of 120.
b. A close above 120 could also mean a beginning of a new uptrend which could take it to levels of 135 / 140.
2. Amara Raja Batteries
a. This stock which is trading at 249 levels could test the 300+ levels in the coming 6 months. However this could be a false break out and we would advise investors to wait for the next couple of days for a close above 250 to really see if the break out is true or false. If it does close above 250/255 then could test the 300 mark in the next few months.
3. Jubilant Foodworks
a. The stock seems to narrowing its channel and could soon witness a major break out. If there is an upside breakout then this stock which is trading at 893 could test 969 soon. However a downward breakout could take it to 800 levels. We think a possible upward break out is possible.
Thanks,
Dewang K Mehta
DENIP Consultants
Disclaimer Post Applies
No comments:
Post a Comment