Top 3 Short Term ‘Trading’ Calls that could return 3-10% in February 5/5 (2)

(1) Bata India

The stock is trading in an intact uptrend and has been a favorite among buyers. Already trading at fresh monthly highs the stock looks strong at current levels. Weekly charts of the stock also shows a Hammer Candlestick formed in the previous week, which further indicates strengthening bulls and capitulation by sellers. The stock has also given a confirmation of the bullish move in the last trading session which further indicates probable higher levels in the counter.

Technical Pattern: Hammer Weekly

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >1196 1180 1215 1230


(2) Wockhardt

One of the weakest stock in pharma sector, the stock is overpowered by bears. In the last trading session, it has given a breakdown from from its existing trading range, thus confirming the underlying bearish stance. Trend following indicator, MACD also signals a ‘Sell’ and lower levels may be witnessed in the counter below the immediate support of 418/-

Technical Pattern: MACD Sell

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <418 430 406 386

(3) Divis Lab-

The stock has been trending higher in harmony since last many weeks and has formed alternative ‘Higher highs’ and ‘Higher lows’ indicating a sustained buying momentum in the counter. It has also given a strong up move from the Ascending Triangle pattern in the last trading session and is already trading at fresh highs. Short/Medium Term traders may initiate long positions in the stock above the immediate resistance of 1620/-.

Technical Pattern: Ascending Triangle Pattern

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >1620 1598 1635 1665

The analysis is based on closing prices as on 4th February, 2019 & Trading levels mentioned in the post are valid for 1-2 months.

If you have any questions, please write it in ‘comments’ section and I will be reviewing them.

Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser  before taking any investment/trading decision. We hold no financial liability to any user on account of use of information provided on this website.

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Author: Traders' Chowk

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