Glass industry is shutting down in Europe due to elevated gas prices, Indian glass manufacturers may get benefited out of it.
Asahi India Glass is one of the beneficiary. stock is giving a C&H BO. Target, SL is as given in the chart.
1. Chemical sector started doing well recently after ease of pressure on raw material supply.
2. Stock is forming positive RSI divergence on daily charts.
3. Volumes are high on green days and low volumes on pull back. Indicates buying interest.
4. Forming box. Which shows consolidation.
5. Promoters have bought stock around same level.
One can go long after...
Buy, Sell, SL levels are as mentioned in the chart.
Reason for buying NSE:MARUTI
1. Positive RSI divergence on daily TF.
2. Broken falling wedge.
3. Good Risk/Reward.
NSE:TATACHEM
Buy Tata chemicals near 350. It is giving multi year breakout this week. With SL of closing below 330 on weekly time frame giving good opportunity. T1 is 400.
PI Industries is on the verge breakout. Near ATH. It has tried to break 2080 4 times in last 2 months. Increasing candles are showing strength and volume. RSI is also showing strength. Idea is to buy PI Industry only after daily closing above 2080. You can wait for SL 1965 on weekly closing basis. Target as per Fibonacci extension.
NSE:PIIND
NSE:TATAELXSI
Buy Tata Elxsi around 1440-1460 range. It is breaking it's ATH after almost 2 years. Also, IT is expected to do well in coming quarters. Keep SL of 1397 for the Target as per Fibonacci extension.
NSE:TECHM
Tech Mahindra is facing resistance near 842 for past 1.5 years. Idea is to buy TECHM when it breaks out and closes above 845. This is investment idea. One can wait for Pullback also near same level after breakout. Aggressive SL: Daily closing below 798, Conservative SL: Closing below 750 on daily basis. Trade activates only after breakout.
Tech Mahindra is facing resistance near 842 for past 1.5 years. Idea is to buy TECHM when it breaks out and closes above 845. This is investment idea. One can wait for Pullback also near same level after breakout. SL: Daily closing below 798. Trade activates only after breakout. NSE:TECHM NSE:TECHM
NSE:HDFCLIFE
HDFCLIFE seems to be in short term downtrend. Has tested 573.5 levels few times in last month. And has now broken that support. Idea is to Short HDFCLIFE near 573.5. SL: closing above 586.5 on hourly basis or on the basis of convincingly breaking trendline. Target 540.
Manapuuram finance is facing resistance for past 1 month near 164. Last trading session it has given breakout with good volume. Idea is to buy Manappuram finance near 164 for the target of 184 with SL of closing below 156 on hourly close. NSE:MANAPPURAM
