Here are the few trade ideas for traders which they can try to use for Short term
In last few days, we have seen a sharp surge in the share price of Reliance Capital despite of other ADAG consolidating in a range. From around levels of 370 last week, stock is now trading around Rs 420. On the technical charts, this surge seems like a short-term breakout which could help stock in August to see more higher levels.
For the stock, Level of 405 was a strong resistance which has been crossed now by the stock. Now, I think this level would work as a support level for the stock. In higher side, next resistence for the stock now lies around Rs 450 i.e almost 9 percent upside. Also, the kind of base which has been made around Rs 405, stock is looking bullish for Short term on technical charts. Therefore, with a strict stoploss at Rs 404, one can buy this stock for the target of Rs 450.
CMP-415, TARGET-450, SL-404/398
Bank of Baroda
After Q1 results, stock of BOB has seen multiple breakouts in technical charts. First resistance level for the stock was 136–138, which it crossed without any difficulty. On the same day, it also breaks it next resistance of 148. Helped by the better Quarterly results, stock is now trading around Rs 152 which can be considered as a good signal.
Until it is trading above Rs 148, it would be a BUY stock for short term. Next resistance for the stock is now around Rs 160 which means almost 7 percent upside. However, if the momentum it has maintain if continued, then it is also possible to see 10–15 percent gain in the stock in next few days. Therefore, with a stoploss at Rs 148, traders can buy this stock for the target of Rs 160/172.
CMP-152, TARGET-160/172, SL-148
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