Positive S Kumars, Valecha Engg, NHPC: Technical Trends
S Kumars is not going up but I sense that a bottom is being made in this stock.
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| Your trading ideas for the day?
Sudarshan Sukhani: S Kumars is a favourite. It is not going up but I sense that a bottom is being made in this stock. S Kumars yesterday was in trading in narrow range so if the market is to move on the upside today S Kumars is a buying opportunity.
The second is from the small cap, midcap group this group has been performing very well for the last 3-4 days. All our recommendations are doing the right things because when the market is locked in a directionless window then the traders focus on this segment so that is Valecha Engineering, this was a stock that fell from 200 to 100 and at current levels is probably bottoming out. Yesterday was a narrow range so perhaps we are looking at a breakout today.
The third again is a buy and that is a surprise it is NHPC. NHPC, it has come down to 22, 22 is support for NHPC not once but multiple times so if the stock is going to go up this is the point at which it should start rising. If this is one of the falling knifes trades but sometimes it works very well. The fourth is an excellent chart pattern Crompton Greaves is making a bullish head and shoulder and I am surprised because the capital goods is not the flavour of the season but whatever, so here is a position trade also.
It is not just a day trade, traders could buy it for because if that pattern is confirmed and breaks out then we are looking at a very decent up move in Crompton Greaves and the fifth is a short sell just to make it a trading range it is Financial Technologies the stock is on the verge of a breakdown below 750 which will take it into significantly lower levels. So these are the five recommendations but trade with low volumes.
Sudarshan Sukhani: S Kumars is a favourite. It is not going up but I sense that a bottom is being made in this stock. S Kumars yesterday was in trading in narrow range so if the market is to move on the upside today S Kumars is a buying opportunity.
The second is from the small cap, midcap group this group has been performing very well for the last 3-4 days. All our recommendations are doing the right things because when the market is locked in a directionless window then the traders focus on this segment so that is Valecha Engineering, this was a stock that fell from 200 to 100 and at current levels is probably bottoming out. Yesterday was a narrow range so perhaps we are looking at a breakout today.
The third again is a buy and that is a surprise it is NHPC. NHPC, it has come down to 22, 22 is support for NHPC not once but multiple times so if the stock is going to go up this is the point at which it should start rising. If this is one of the falling knifes trades but sometimes it works very well. The fourth is an excellent chart pattern Crompton Greaves is making a bullish head and shoulder and I am surprised because the capital goods is not the flavour of the season but whatever, so here is a position trade also.
It is not just a day trade, traders could buy it for because if that pattern is confirmed and breaks out then we are looking at a very decent up move in Crompton Greaves and the fifth is a short sell just to make it a trading range it is Financial Technologies the stock is on the verge of a breakdown below 750 which will take it into significantly lower levels. So these are the five recommendations but trade with low volumes.
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