Bharat Forge, HAL, Coal India: Bet on these 5 stocks on stimulus package

Coal India Ltd (COALINDIA): The stock has always been seen as a “risky trade” and continues to trade with the same sentiment. As this counter has breached the significant support of Rs 150, the momentum has turned bearish. One can witness the negative reversal of Moving Average Convergence Divergence (MACD) from the zero line, when the counter made an effort to cross Rs 150 mark recently. All this shows weakness if the stock tries to move up. There is clear selling pressure evident on the charts at higher levels. It is better to wait for Rs 150 to get conquered and then take a trading position. CLICK HERE FOR THE CHART

Manappuram Finance Ltd (MANAPPURAM): The ascending triangle breakout has boosted the positive sentiment in this stock. Every possible corrective move - like the one we are seeing today - may witness buying momentum in the range of Rs 120 – Rs 110. The overall trend indicates a positive bias with immediate target levels of Rs 140 and Rs 150 levels. The MACD has risen above the zero line - suggesting a positive strength. A closing basis support remains at Rs 108 levels. CLICK HERE FOR THE CHART

Kaveri Seed Company Ltd (KSCL): The overall trend looks promising as the double bottom formation holds an upward bias, the daily chart suggests. The counter is currently witnessing minor selling pressure in the range of Rs 390 to Rs 400 levels. That said, the trend remains upward on a larger time frame as MACD holds ground above the zero line - an indication that the stock will not breakdown meaningfully. The counter has managed to crossed 50-DMA, which is another positive sign. CLICK HERE FOR THE CHART

Hindustan Aeronautics Ltd (HAL): The counter has conquered the 50-DMA with a strong gap up. This move is accompanied by huge volume, indicating buying interest of traders. If the rally continues for a few more sessions, or gives a consistent positive closes, then an upside towards Rs 650 from a medium-term perspective cannot be ruled out. The MACD has made a positive crossover below the zero line, suggesting a positive move is in progress. CLICK HERE FOR THE CHART

Bharat Forge Ltd (BHARATFORG): The daily structure shows an “Inverse Head and Shoulder” formation waiting to breakout at Rs 325 levels. The current trend highlights stability above the support of Rs 260 levels. This can be even contemplated as a consolidation in the range of Rs 300 to Rs 260 levels. The volumes have remained stagnant, and a move above Rs 300 may attract buying interest pushing price towards a bigger breakout level. CLICK HERE FOR THE CHART


Enable GingerCannot connect to Ginger Check your internet connection
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×Enable GingerCannot connect to Ginger Check your internet connection
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×