Ashok Leyland, JSW Steel & Gruh Finance-Short Term Ideas with Return Potential 8-10% 4.67/5 (3)

Trading Tips stocks Buy Sell

(1) Ashok Leyland-

This stock has been on my ‘Sell’ list since last many months. I had advised a sell on this stock at 102 levels and since then the stock has lost more than 20% (Read this: 2 ‘Auto’ Stocks which are NOT a Bargain at current Price!).

In spite of the strong sell-off in the recent past, the stock has failed to find grounds and is still languishing in a bear phase. This trend of bearishness may continue in near future and the stock may again go downhill to witness new lows. Short/Medium Term traders may look to short this stock below immediate support of 85/-.

Status- Active. Call initiated on 11th Feb@85. 

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <85.00 88 81 76


(2) JSW Steel

The stock has been losing buy side momentum ever since it has touched the life time highs at 427.55 on September, 2018. The break of underlying trend line has witnessed a strong supply from bears and it has been a straight one sided fall from 427 odd levels. Daily Charts of the stock also display a Head and Shoulders Pattern which indicates distribution at higher levels. The selling pressure in the stock is still very much evident and are no signs of bulls coming back anytime soon.

Fresh shorts may be initiated in this counter below 270 odd levels for a further downside of 6-8%

Status- Closed. Stock Hit Target 2 on 11th Feb@257. 

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <270 276 264 257

Also, check this post-Top 3 Short Term ‘Trading’ Calls that could return 3-10% in February

(3) Gruh Finance-

The stock witnessed a sharp fall at start of this year on 8th January on the back of the news of its acquisition by Bandhan Bank. The free fall was supported with huge volumes indicating exit of strong hands from the counter. The strong sell-off witnessed in the stock pushed the prices below its medium term moving averages of 50 and 150 SMA and also below 20, 10 SMA indicating the strong control of shorters over this counter. Short/medium term is still negative and this downward spiral may continue in near term.

Status- Not Triggered, as on 11th Feb

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <234 241 230 224

The analysis is based on closing prices as on 30th January, 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. Last but not the least, Do not forget to share the above post with your friends.

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

8 thoughts on “Ashok Leyland, JSW Steel & Gruh Finance-Short Term Ideas with Return Potential 8-10%

    1. JPA and RCOm are very weak stocks. In short term also, there are chances of both the stock witnessing lower levels. Better to exit these stocks.

    1. Gaps are meant to be filled but we can not mark the timing of gaps as when it will happen. Overall trend in the stock is still down and it is better to go with the underlying momentum.

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