Friends, nowadays the market is too volatile due to FIIs selling and the Russia-Ukraine crisis, so as per my advice we have to focus on positional or long term pics. If we look for it then we will not get panic. Avoid this panic-ness we have caught two stocks that look pretty on charts and the company can do better based on the summer season.
On Voltas chart, there is a clear picture that stock is in an
uptrend and right now trading in a zone. The support level is 1130 and the resistance
is 1325. The stock has again taken a U-turn from support levels with good
volumes. Also, it has confirmed Bullish
Engulf as well as Cup & Handle
breakout on a weekly chart. I am bullish from the current levels and stock can
reach 1325+ and immediate support is around 1190.
Our next pic is Lemon Tree, the share price is trading
around 50-51 rupees. The overall price trend is up and retested the support of
44. The stock has given breakout to the resistance of 50 and confirmed “Inverted H&S” + “Bullish Engulf”. The volumes are
increased so we are expecting up moves till 58/60. Immediate support is around
45/46 which is the demand zone.
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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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