April 20, 2024

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Trading ideas by Bharat Gala of Ventura Sec: Buy Thermax, CCL Products

CCL Solutions

CMP: Rs 268



Concentrate on: Rs 375-425

Purchase region: (261-254)-248-(244-240)

Stop loss: Rs 225

Just after CCL Solutions begun its up transfer from 137 in March 2020, a series of greater bottoms followed, at one hundred seventy five in Might 2020 and 220 in July 2020. Then, the inventory created a higher of 294 in Aug 2020 and entered a sideway transfer in the variety of 231 and 295 from Aug 2020 to April 2021. Not too long ago, it has presented a breakout and created a higher of 273. The KST, Desire index and ADX indicators recommend the sturdy likelihood of an uptrend in the coming times. The up-transfer supported by volumes suggests obtaining fascination. The inventory has now closed above its prior months higher and has the strength to accomplish a goal of 375 to 425 in the coming times. If the inventory corrects, it ought to be included at (261-254)-248-(244-240) concentrations. Notice a end loss of 225 in this trade. Click Here FOR THE CHART

Thermax

CMP: Rs 1,410

Concentrate on: Rs 1,800-2,000

Purchase region: (1,385-1,337)-1,297-((1,250-1,235)

Stop loss: Rs 1,one hundred fifty five

From 740 in November 2020, Thermax entered an uptrend, earning numerous greater bottoms at 880-940-1140. Then, it created a higher of 1465 in March 2021. In simple fact, it entered a sideway transfer in the variety of 1270-1450 from February 2020 to April 2021.

Not too long ago, the inventory traded in the variety of a major favourable candle for a 7 days and crossed its prior 7 days higher to make a higher of 1405, supported by volumes. The KST & Desire index recommend the sturdy likelihood of an uptrend in the coming times.

This super craze is in the favourable method due to the fact Oct 2020 and the inventory has the strength to accomplish a goal of 1800-2000 in the coming times. If the inventory corrects, it ought to be included at (1385-1337)-1297-(1250-1235) concentrations. Observes a end loss of 1155 in this trade. Click Here FOR THE CHART

Visaka Industries

CMP: Rs 552

Concentrate on: Rs 750-950

Purchase region: (529-493)-463-(433-417)

Stop loss: Rs 390

On this weekly chart of Visaka Industries, the inventory created a reduced of ninety five in March 2020 from a higher of 840 in Jan 2018. Just after slipping for around two years, involving 2018 and 2020, it entered a V formed restoration and created a higher of 534 in one particular year’s time (by February 2021). Not too long ago the inventory fashioned two sizeable weekly environmentally friendly candles and created a higher of 589. It has presented a weekly breakout above the craze line connecting 2018 and 2021. Now the inventory has presented a weekly candle near above all going averages and the Aroon Up/dwn, ADX and Desire index validate the strength of the pattern breakouts. In simple fact, the super craze has been in Favourable method due to the fact June 2020. All this suggests that the inventory has strength to accomplish a goal of 750-950 in coming times. If it corrects, it ought to be included at (529-493)-463-(433-417) concentrations. But do retain a end loss of 390 in this trade. Click Here FOR THE CHART

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Disclaimer: Bharat Gala is President – Technological Analysis at Ventura Securities.

For all the Disclosures and Disclaimer on inventory phone calls, click below

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