Eicher Motors, Zee Ent: Trading ideas by Ajit Mishra of Religare Broking

Eicher Motors Restricted
Suggestion: Invest in
Final close: Rs two,823.15

Initiation variety: Rs two,780-two,800
Goal: Rs two,960
Prevent decline: Rs two,710

We are looking at a combined trend in just the automobile house and Eicher Motors has not long ago witnessed a breakout from a consolidation variety of Rs two,500-2750. Going ahead, it may see a marginal dip just before resuming the trend. Traders shouldn’t skip this chance and accumulate in the described zone.

Voltas Restricted
Suggestion: Invest in
Final close: Rs one,187.twenty five
Initiation variety: Rs one,a hundred seventy five-one,185
Goal: Rs one,three hundred
Prevent decline: Rs one,one hundred twenty

Voltas has surged strongly earlier the upper band of the consolidation variety i.e. Rs 950-1130 with a recognizable surge in volumes. The chart pattern merged with the positioning of the oscillators is pointing to a regular rise. We hence advocate creating contemporary longs in the presented variety.

Zee Amusement Enterprises Restricted

Suggestion: Provide Sep Futures
Final close: Rs 178.35
Initiation variety: Rs 183-185
Goal: Rs a hundred ninety
Prevent decline: Rs 172

Even though the current market trend is up, it’s prudent to retain handful of shorts also as a hedge thanks to overbought conditions. Between the sectors, media has been underperforming and Zee Ltd is no different. The latest bounce in the inventory can be regarded for initiating contemporary shorts, citing robust resistance close to the Rs one hundred eighty-185 zone.

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Disclaimer: Ajit Mishra is VP – Study at Religare Broking. Views expressed are particular.

http://www.religareonline.com/disclaimer

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