May 25, 2021
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The stock of Bombay Dyeing & Manufacturing Company surged 7.5 per cent accompanied by above average volume on Tuesday and has surpassed a key near-term resistance at around ₹78. This rally provides investors with a short-term perspective an opportunity to buy the stock at current levels.
After registering a 52-week high at ₹89.8 in early March this year and the stock began to decline and was on a short-term downtrend until it found support at ₹64 in late April. Thereafter the stock changed direction and began to trend upwards. The stock breached a vital resistance at ₹72 in early May the continued to trend upwards.
Investors with a short-term horizon can buy the stock of Dhampur Sugar Mills at current levels. The stock has been in an intermediate-term uptrend, since recording a multi-year low at ₹65.8 in March 2
The stock of United Breweries can be considered for a short-term sell trade as it looks bearish post slipping below some key supports in the past few trading sessions.When the overall market reversed
Vardhman Textiles (₹1,297.7): Buy
Akhil Nallamuthu
BL Research Bureau |
Updated on
March 31, 2021
The stock of Vardhman Textiles has made a fresh breakout on Wednesday, opening the door for further strengthening. It marked a new 52-week high of ₹1,326 and going forward, the scrip is likely to scale new heights. Traders can consider buying this stock for the near-term.
Since hitting a low of ₹601 a year ago, the stock has more than doubled. However, the recovery has not been smooth. The stock faced several challenges en route to the current price level and had to break through many strong hurdles. In spite of this, it managed to bounce-off the 21-day moving average on a consistent basis and the recent breakout with significant volume has showed that bulls are holding strong.
Yoganand D
BL Research Bureau |
Updated on
March 12, 2021
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Investors with a short-term horizon can buy the stock of Bajaj Consumer Care at current levels. Since the stock took support at ₹117 in March 2020, it has been in an intermediate-term uptrend, forming higher peaks and higher troughs.
Medium as well as short-term trend are also up for the stock. While trending up, the stock has surpassed key resistances at ₹200 in November 2020 and ₹230 in February this year. After a near-term sideways movement in the month of February, the stock appears to have resumed the uptrend this week.
On Wednesday, the stock gained 4.5 per cent with good volume breaching a key barrier at ₹265 levels. So far the stock has advanced 12 per cent for the week. Moreover, the daily and the weekly relative strength indices are hovering in the bullish zone backing the uptrend. There has been an increase in daily volume over the past three trading sessions.