Monday's Short term momentum calls...
Good Morning all!
Firstly, what to expect from markets this week?
If Nifty manages to close above 8666, then it would rise immediately towards 8878. Looking at the weekly chart, Nifty could find profit booking during the fag end of this week; probably second half of Thursday and Friday. Till Wednesday, it is expected to rise and continue bullish momentum.
Here are our 3 short term momentum calls for today.
1. AKZOINDIA
After being in a long consolidation phase, Akzo Nobel has given a breakout last week and have been moving in a small upward moving channel. The upside is still intact and the stock will face resistance at 1750, however this stock has more upside and could move towards 1800 levels.
2. ALLCARGO
This stock is in a perfect parabolic channel. We expect it to raise further with increased momentum, especially with GST discussion on in Monsoon session. The climax would come once the GST bill is passed officially.
3. TNPL
This paper company's price action can be channelized and we can find there more steam left for this company to push prices past 300 mark. Our price target for this company (through short term momentum) would be around 320 - 350.
08/08/2016: CMP: 301. Book complete profits, call closed.
Firstly, what to expect from markets this week?
If Nifty manages to close above 8666, then it would rise immediately towards 8878. Looking at the weekly chart, Nifty could find profit booking during the fag end of this week; probably second half of Thursday and Friday. Till Wednesday, it is expected to rise and continue bullish momentum.
Here are our 3 short term momentum calls for today.
1. AKZOINDIA
After being in a long consolidation phase, Akzo Nobel has given a breakout last week and have been moving in a small upward moving channel. The upside is still intact and the stock will face resistance at 1750, however this stock has more upside and could move towards 1800 levels.
2. ALLCARGO
This stock is in a perfect parabolic channel. We expect it to raise further with increased momentum, especially with GST discussion on in Monsoon session. The climax would come once the GST bill is passed officially.
3. TNPL
This paper company's price action can be channelized and we can find there more steam left for this company to push prices past 300 mark. Our price target for this company (through short term momentum) would be around 320 - 350.
08/08/2016: CMP: 301. Book complete profits, call closed.
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