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Back with One More Post of Market Outlook.. Today we will Discuss 2 Stocks Only and on Weekend I will be Posting Few More !!
First Stock to be Discussed here will be One More Pharma Stock..
WOCKHARDT LTD.
The Stock is underperformer in the Whole Pharma Pack.. I am seeing some Opportunity here in Near Future..
Let's see the Chart ...
This is a Weekly Chart and I can See a Falling Trendline Breakout in this Stock. The Trendline is pierced on the upside and While doing it, Important Resistance area is also cleared which is Marked on the Chart With a Long Red Dark Line with Multiple Green Arrows showing how the level worked as a strong support in the previous weeks.
The Breakout are is retested and the stock is moving comfortably and slowly above the trendline and the support line. Current Candles show a good consolidation. I am expecting a strong move in coming weeks. It's a Under-performer in the Whole Pharma Pack. I am not a Fundamental Guy, so I am Suggesting What the Charts are Telling Me. I may be Wrong in this case. But I have been very clear since March.. Pharma will see a Golden Period in Next 1-2 years. It's a Time for Pharma Stocks to Outperform the Markets.
I have Recommended Buying Few Pharma Mutual Funds to Our Mutual Fund Clients. The Funds have Given Fabulous 15% returns in Just 2 Months Period. Such Kind of Returns by Mutual Funds are Rare for Direct Investors.
Recommendation in this Case :
WOCKHARDT PHARMA LTD.
Buy : 260-270
Stoploss : 220
Targets : 344 - 444 - 577
Duration : 6-8 Months
Risk : Reward is amazing considering the Returns and the duration.
Do Not Over trade, Do Not take Leverage trades.
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Next Stock on the Radar will be :
KARUR VYSYA BANK LTD.
Let's see the Charts.
This is a Monthly Chart, We can see The Stock has taken support from a 21-24 zone. this zone is always a small consolidation zone in past also. Next Immediate Big Resistance is around 54. The stock is still in Downtrend, Here we will be trading it for a Pull back only.. so Do not expect it to be a Multibagger and invest. It's a Pull back towards the Falling Trendline only. The Stock will face stiff resistance near 54 area and it will be a Long term resistance. before moving towards the level. Stock Will Face Resistance with the falling trend line which is placed around 48 levels approx.
On a Monthly Chart, The Candlesticks have formed a Inside Bar and the Breakout is done in June. July Candle Suggest the Hammer Like formation from the breakout level. We may see some follow up buying for the Next Month which might lead us towards the 44-48 levels.
This is a Weekly Chart. I have Marked small Cup and Handle Structure, having neckline at 37 levels. The Breakout Target is approx 51 as per technical structure but I am Not Expecting it to Work exactly as per the theoretical levels as the Trendline is Strong and will not break easily. we will see more consolidation and some pattern formation near the trendline before breaking it.
The Recommendation here is :
KARUR VYSYA BANK LTD.
Buy : 32-35
Stoploss : 28
Targets : 44 - 48
Duration : 2-4 Weeks
Do Not Over trade, Do not take Leverage Trades.
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Disclaimer :
The Analyst ATUL SHINDE is a Technical Analyst, Global Markets Expert and Certified Investment Adviser having Experience of 13+ years in Indian as well as International Markets.
These trades may or may not be given to our clients.
Consult your Financial Adviser Before taking any trading decision and entering the Trade. Do Consider Risk Management before taking any Trade Decision. Do not Expect Overnight Returns and Do not Leverage your trades. New Rules for Margin Money are strict.
WhatsApp : (+91) 8275298208
email : service@planmymoney.in
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