{"id":392,"date":"2020-07-09T12:25:40","date_gmt":"2020-07-09T06:55:40","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=392"},"modified":"2020-07-09T12:25:40","modified_gmt":"2020-07-09T06:55:40","slug":"equity-markets-at-a-crucial-juncture-charts-hint-at-positive-support-for-these-stocks-in-coming-weeks","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/equity-markets-at-a-crucial-juncture-charts-hint-at-positive-support-for-these-stocks-in-coming-weeks\/","title":{"rendered":"Equity markets at a crucial juncture; charts hint at positive support for these stocks in coming weeks"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">After rallying for five consecutive sessions, the Nifty corrected on Wednesday from a high of 10848. The Nifty failed to test the 200-day SMA, which is currently at 10885. Zooming into the 15 minute intra charts, we can see that the Nifty has closed just above the intraday support of 10689. A close below this level could trigger a bigger correction that could see the Nifty moving down towards the next major support at 10560-10520 where we have the 200-day EMA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, if the Nifty does find support at the 10689 levels, then a bounce back is possible that could take the Nifty once again towards the 200-day SMA. The below picks are for the next 15-26 trading sessions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After correcting sharply from a high of 1367 touched in February 2020, Shriram Transport Finance found support around the 440 levels a few months back. The stock had also previously found support around these levels many years back, thereby making it a strong support on the long term charts. The stock has since then rebounded and gradually moved higher, making higher tops and higher bottoms in the process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This week, the stock has broken out of the 690-714 narrow trading range on the back of healthy volumes. This augurs well for the current uptrend to continue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Technical indicators are giving positive signals as the stock trades above the 13-day and 50-day SMA. Daily and weekly momentum readings are in rising mode and not overbought.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We recommend a Buy between 740 and 760 with a SL at 700 and Target of 880 for 2-5 weeks. CMP is Rs. 757.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Buy United Spirits<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">United Spirits has formed a double bottom pattern on the daily charts around the 585 levels. The stock has since then been gradually moving higher in the last few sessions, which is encouraging.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today, the stock broke out of the 590-605 range on the back of huge volumes, which augurs well for the uptrend to continue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Technical indicators are giving positive signals as the stock trades above the 13-day SMA and the 14-day RSI is in rising mode and not overbought. The Relative Strength Comparative indicator too has started turning up, indicating that the stock is outperforming the Nifty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We recommend a Buy between 605 and 621 with a SL at 590 and Target of 670 for 2-5 weeks. CMP is Rs 620.5.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Eqwires Research Analyst<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\">Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\"><strong>Best SEBI registered Intraday tips provider and Best SEBI registered stock advisory company<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"mailto:info@eqwires.com\"><strong>info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Call: +91 9624421555 \/&nbsp;<em>+91 9624461555<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"http:\/\/www.eqwires.com\/\">www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After rallying for five consecutive sessions, the Nifty corrected on Wednesday from a high of 10848. The Nifty failed to test the 200-day SMA, which is currently at 10885. Zooming into the 15 minute intra charts, we can see that the Nifty has closed just above the intraday support of 10689. A close below this level could trigger a bigger correction that could see the Nifty moving down towards the next major support at 10560-10520 &hellip; <a href=\"https:\/\/www.eqwires.com\/tutorials\/equity-markets-at-a-crucial-juncture-charts-hint-at-positive-support-for-these-stocks-in-coming-weeks\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Equity markets at a crucial juncture; charts hint at positive support for these stocks in coming weeks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,139,140,106,272,266,98,72,97,184,73,268,135,137,133,104,141,161,160,159,74,210,75,158,166,228,227,103,254,102,224,257,101,105,165,76,77,78,79,247,215,216,174,80,81,99,218,82,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,232,231,250,96,3,260,252,248,249,107,192,220,275,223,156,157,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,8,185,10,17,269,148,151,146,15,16,122,144,162,23,41,25,24,27,21,194,50,229,226,124,33,253,126,225,119,20,258,28,49,127,121,230,125,115,22,113,29,52,123,131,245,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,242,237,51,110,32,187,35,55,44,270,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,233,68,193,241,205,261,263,209,262,243,244,240,66,204,70,109,259,221,274,222,163,69,58,239,208,114,178,181,179,180],"class_list":["post-392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-tips-provider-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-trading-tips","category-intraday-trading-tips-strategies","category-investment-adviser","category-investments","category-it-industry","category-jackpot-intraday-tips","category-most-accurate-stock-tips-provider","category-most-successful-intraday-strategy","category-most-successful-intraday-tips-provider","category-most-successful-stock-advisor-in-india","category-most-successful-stock-advisors-in-india","category-news","category-nifty-intraday-trading-tips","category-nse-fo","category-operator-based-calls","category-politics","category-portfolio-management-services","category-promotions","category-sebi-registered-advisory-company","category-sebi-registered-advisory-company-in-india","category-sebi-registered-best-investment-advisory","category-sebi-registered-investment-advisor","category-sebi-registered-research-analyst","category-share-market-tips","category-stock-market","category-stock-market-basics","category-stock-market-expert-in-india","category-stock-market-tips","category-stock-market-tips-india","category-stock-tips","category-sureshot-tips-provider","category-top-10-advisory-company","category-top-10-i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