Finally, Nifty confirmed a breakout from a narrow trading range of the last two weeks as it broke above the resistance placed at 9, Trading range breakouts must always be treated with respect.

Traders should not focus on the point that markets have run up a lot up 15 percent in In fact, the daily RSI is trading well below the peak of March i.

Meanwhile, PSU Bank index is showing some signs of fatigue after it reversed from PRZ of the bearish gartley pattern. The same also coincides with the lower-end of the recent trading range i. As long as the index sustains above 9, zone, the positive bias will prevail in the market.

Strong support available at 9, for Nifty; 5 stocks to buy which could give up to 12% upside - ucujaluxu.web.fc2.com

Currently, Nifty is in a sweet spot, where we are likely to see new highs every other day and in case there is a retracement towards the lower-end of the recent trading range, it will provide an opportunity to make a fresh entry point. The stock is showing a trait of a counter which is trending higher after it took support at its DMA and provided a pullback.

Reliance Industries which has outperformed by 25 percent in was on the receiving end of last week of April Moreover, the DMA support also coincides with the support of its four-digit gann number and pulled back.

Also, the second line of defence as per gann rule of 8 provided respite post the recent decline.

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Correction of the last two weeks could be termed as a sideways correction as it managed to find support at its short-term trendline. Uptrending stocks tend to find support at declines and also recover sharply. Based on above rationales, we recommend a buy on Reliance Industries above Rs1, with a stop loss of Rs1, for a target of Rs1, Adani Ports is currently going through a phase of consolidation at the top of its rally.

Amazon Top Internet Pick, BNY Mellon Rated Strong Buy | Stock News & Stock Market Analysis - IBD

It is showing characteristics of a stock which is in a strong uptrend. It is moving higher along with the support of its WEMA since Januarywherein every pullback towards this critical moving average has resulted into buying opportunity. Since the last six weeks, the sideways consolidation at the top of its trend can be termed as bullish consolidation.

The outcome of such sideways movement is dealt positively during an uptrend. Moreover, it continues to trade above the gann number of A move above Rs would result in a shift in the orbit on the upside and would eventually confirm a breakout from the bullish consolidation pattern. Based on above parameters, we recommend a buy on Adani Ports above Rs with a stop loss of Rs and a target of Rs Suven went through a sharp how to find strong buy stocks of correction after making a high of Rs in April Recent low of Rs made in November was placed near the degrees by applying a gann square of 9 from the peak of Rs After completion of the cycle, the downside move of the stock came to an end and the stock began a process of bottoming out.

It is a process, in which the stock moves around in a narrow range, doing nothing how to invest in penny shares uk. Suven Life for last six months was stuck between Rs The stock managed to test the midpoint of the current how to find strong buy stocks channel which indicates strength in the current move.

As per above mentioned technical parameters, we recommend a buy on Suven Life Sciences above Rs with a stop loss of Rs and a target of Rs Support of WMA and the previous low of Rs seen in February came to the rescue of Aurobindo Pharma. In line with the weakness in the entire pharma space, Aurobindo Pharma went through a torrid time since March However, it is showing first signs of reversal after it completed its degrees by applying a gann square of 9 from the peak of Rs Also, the same coincides with the midpoint of current gann channel.

We expect the stock to build on recent momentum and continue towards the target of Rs in the near term. Based on above rationale, we recommend a buy on Aurobindo Pharma above Rs with a stop loss of Rs and a target of Rs It is showing the trait of a stock which is in a strong uptrend since December A move prior to recent breakout could be termed as flag pattern.

In fact, ratio chart of Realty index against the Nifty index suggests a strong outperformance from the realty stocks.

It is a classic case of new song money maker club penguin Phoenix rising from the ashes. Traders can buy DLF above Rs with a stop loss of Rs and a target of Rs Farm loan waiver a concern if follow-up action missing; focus on high quality cos: Reproduction of news articles, photos, videos or any other content in whole where to buy stocko connectors in part in any form or medium without express writtern permission of moneycontrol.

Strong Buy

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