Support 200 Day EMA : Arvind Ltd.

Arvind Ltd. (362.10) :

Arvind ltd is closed at 362.10 level. Stock has corrected from 423 and took support around 325 level which is 200 day EMA and bounced back to 364.

From last 5-7 trading sessions, the stock has shown up good price action in decline market. The stock is also trading above all short term moving averages. 

One can initiate long position between 362-367 levels with stop loss of 330 (closing basis) for target of new 52 week high above 425 levels in next 6-8 weeks.

Guppy Multiple Moving Average (GMMA) : Coal India

Coal India Ltd. (325.40) : 
Coal India is closed at 325.40 levels on Diwali Mahurat Trading Day. Its 52 weeks high/low at 349.95 / 271.65 were made on 17th August 2016 and 12th April 2016. 

From 7-8 trading sessions, the stock has shown us good price action. The stock is also trading above all moving averages of Guppy Multiple moving averages (GMMA) theory. 

One can initiate long position between 323-328 levels with stop loss of 315 (closing basis) for target of new 52 week high above 350 levels in next 6-8 weeks.

Double Bottom : Tech Mahindra

Tech Mahindra (405.50) : 

Tech Mahindra has formed double bottom around 405 level and bounced back from there. One can buy stock around 430-435 levels with stop loss of 405 (Closing basis) for Target of 480-490 in next 8-10 weeks.

RISING TREND LINE : SPARC (Sun Pharma Advance Research Company)

SPARC (329.10) : 

SPARC is trading near support of rising trend line and stock has given bounce back from same. One can initiate long position around 325-330 levels with stop loss of 305 (closing basis) for Target of 380. 

Support Trendline : SpiceJet

Spicejet Ltd. (60.70) :

Currently Spicejet is trading near support trendline which is around 55 level. Couple of time stock has given bounced back from same level in last one year.

One can Buy stock in small dip around 58-59 level with stop loss of 54 (closing basis) for target of 70-72 in next 10-12 weeks.

Trendline Breakout : Apollo Tyres

Apollo Tyres Ltd. (175.65) :

Apollo Tyres has given trendline breakout on weekly charts with rising volumes. RSI & ADX turn positive on monthly charts.

One can Buy Apollo Tyres around 175-177 with stop loss of 160 (closing basis) for target of 210 in next 2-3 months.  

Cup & Handle Breakout : TCS

Tata Consultancy Ltd. (2738.45) :

TCS has given cup n handle breakout on weekly charts. Stock is consolidating in range from last 2 years. Now it seems that it will breakout from consolidation.

Once can Buy TCS in range around 2700-2720 with stop loss of 2410 (closing basis) for target of 3200 in next 4-6 months. 

Techncial Outlook : ICICI Bank

ICICI Bank Ltd. (245.95) :

ICICI Bank is trading in trading upward channel from last six months. Recently It has touched down lower end of channel around 236. Now again it has started up move from there. 

From here Risk Reward radio is favourable. So one can Buy ICICI Bank around 245 with stop loss of 236 on closing basis for target of 265-280. Time Frame is 3-4 weeks.