Hot Stock Tips By Technical Analyst-Hot Stock Tips For Tomorrow
Dear Readers It's a welcome to you all from Technical Analyst. The Stock market is now in an uncertain position where one have a bit of dilemma whether one should buy or sell a stock as the market is showing a mixed direction. One day it closes positive and the another day it is closing negative but still it is for sure that the down side is limited and it will stay positive till the Nifty stays above 5430. Technical Analysis could not do so much in such moment when market is driven by the news and not on technicals, so the strategy for now should be to trade on selected stocks and not on Nifty till the Budget is declared.
Hot Stock for now is CAIRN India as the stock is getting benefit of higher crude prices due to the geopolitical crises in middle east. Apart from this it is trading above the 30 DMA and the RSI and MACD is clearly showing the strength in it, so I recommend to buy Cairn India at current market price for a target of Rs 350 with a strict stop loss of Rs 320. Another Hot Stock Tip is Reliance Industries which comes again from Oil and Gas sector, as we know that there is a recent announcement of a big deal between Reliance Industries and British petroleum of around Rs 32000 crore for 30% assets of Reliance Industries, by this deal RIL wil have a liquidity of Rs 32000 crore in its reserves which will definitely make the company books strong and It can invest that corpus in new projects. So it is advised to invest in Reliance Industries for a target of Rs 1095 with a strict stop loss of Rs 930.
As far as Idea is concerned I think it should be a shorting contender, yes sell Idea at current levels for a target price of Rs 52 with a strict stop loss of Rs. 62 its price is trading below 7 DMA and RSI as well as MACD are showing weakness in the stock in daily and weakly charts as well.
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