Stock Picks

18th June: Watchlist

1. McDOWELL-N
We got an amazing 100 point upmove on this stock on 17th June giving us 12,000 per LOT gain. Now, as the chart shows that this stock is closing in on the falling trendline resistance and the momentum indicator compliments that. The stock is above the 200DMA and the stochastic is crossing over the line below the 50% mark. For swing traders, this a BUY signal. Keep an eye if it breaks the 2475 levels, as it can then move to 2520/2540 levels. Again, breaking above this level will be a bit tough. But if it breaks then we will be seeing 2610 levels. Now as the stock has created a lower low at 2295, closing below 2475 levels will be a bearish signal as it indicates a lower low and lower top.

BUY above: 2475, SL: 2445, TGT: 2520/2540/2610+

MCDOWELL-N


2. IDEA
Another stock where we are bullish is IDEA. Look at the break out the chart is showing. Also, after many days the MACD is crossing the line. The stock has seen good buying. We have are positions as advised in our previous article. For short term traders, the stop loss should be at 135, for positional traders 135 must be used for "buy-on-dips" strategy and 125 must be the SL. Click here to see the levels and the chart as well.

3. CENTURY TEXTILES
Click here to see the levels and the chart. A big bullish stock for positional traders with SL 278.

4. UNITECH
A nice reversal candlestick formed. BULLISH.
BUY @ 21.8-22.2, SL: 20.8, TGT:  23/23.25/24
For derivatives, BUY options with the same levels.

UNITECH
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