In todays post looking at a few stocks which have been range bound or consolidating at resistance levels. Focusing only on Nifty 50 and Nifty next 50 stocks.
In previous post we had looked at Stocks on Supports but I personally prefer trading breakouts and momentum.
Lets see which one of the following few breakout in coming weeks/months or given a good entry opportunity.
LIC Housing Finance
Range bound for a long time now. A short term breakout but a longer term confirmation above 520.
Disclosure - Recommended in Technical Traders Club and QuickGains Fno
UltraTech - 4-5 attempts at that 3400-3450 mark.
Titan --- Can it breakout above 380
Power Grid --- Now thats been a long time since it had last seen 160-165. Will this be a new breakout into all time highs ?
Motherson Sumi -- 5-6 attempts at that 305-310 range.
Mahindra and Mahindra --- 1400-1420 a prob for last 2 years.
ITC --- After a quick move now struggling at 365
Indian Oil --- In the OMCs has been a laggard. Can it pick up steam above 440 ?
Divis Labs --- Not close to that 1200 mark but very resilient given the cracks in other pharma stocks.
Dabur - Stock almost at new all time highs. Whatay move from the lows.
Please do your own research and risk management.
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Securities covered above:: LIC Housing Finance, UltraTech, Titan, Power Grid, Motherson Sumi, M&M , ITC, Indian Oil, Divis , Dabur
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