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Super 4 Stocks for BTST
1. TATA STEEL LIMITED
In daily chart Tata Steel Limited
yesterday rallied 6% break 52 week high due of 509.40 in NSE the stock gain
12% after the company reported a healthy set of Q4FY17 numbers driven by
significantly higher EBITDA/tonne from both Indian as well as European operations.
India to be the fastest-growing large steel market globally in 2016 through
2018. We are expecting that in coming day its prices would be breach to the
level 570 due to the breakout of major resistance of 510. In daily chart,
the immediate resistance and support are 550-570, 490-475 respectively. The
prices move in a channel. Investors can take long position at current
market price 513 upto the level of next resistance level of 550 and
maintain the risk part of 575 is the support. The stock gain 12% after the
company reported a healthy set of Q4FY17 numbers driven by significantly
higher EBITDA/tonne from both Indian as well as European operations.
2. VEDANTA LIMITED
Yesterday Vedanta surges rally of
5% due to Buoyed by resilient LME (London Metal Exchange) prices and
declining cost of alumina, Vedanta aims to ramp up
its aluminium output to 1.6 million tonnes (mt) this financial
year. The complete ramp-up of its second aluminium smelter
at Balco (Bharat Aluminium Company) and ramp-up of the
balance pot lines at its 1.25-mt-per-year Jharsuguda smelter
would help Vedanta achieve the higher production target. In daily chart
there is a formation of head and shoulder pattern, the neck line resistance
level is 247, in coming day if it break the level of 247 it will breach to
the level of 590 and also it would test 52 week high. In daily chart, the
immediate resistance and support are 260-270, 230-218 respectively.
Investors can take long position above 247 upto the level of next
resistance level of 258 and maintain the risk part of 235 is the support.
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3. Vadilal
Industries Limited
We recommended the stock of Vadilalind, which jumped almost 2 per cent
accompanied by above-average volume in last trading day. The stock taking
support at the key base level of 660 in February, the stock has been on a
medium-term uptrend. While trending up, the stock decisively breached its
200- and 50-DMAs and hovers well above them. The stock appears to have
resumed its medium-term uptrend. There has been an increase in trading
volume over the past three weeks. The daily relative strength index has
entered the bullish zone from the neutral region and the weekly RSI has
also entered this zone from the neutral region. The short-term outlook is
bullish. The stock can extend its uptrend and reach the price targets of
920 and 950 in the upcoming trading sessions. Investors with a short-term
perspective can buy the stock with a stop-loss at 870.
4. Radico
Khaitan Limited
We recommended the stock of Radico, which jumped almost 2 per
cent in last Friday. The stock of Radico, breaching its 21-DMA and a key
resistance at around 122. This up move has strengthened the medium-term
uptrend that has been in place since the December low of 106. Moreover, the
short-term trend has turned up. The stock is trading well above its 50-DMA
as well. The medium-term uptrend is intact. But, the stock now tests a
resistance at 133 with an upward bias. The daily relative strength index
has entered the bullish zone from the neutral region. Both the daily and
weekly price rate of change indicators feature in the positive terrain
indicating buying interest. The stock has the potential to surpass the
immediate resistance at 122 and continue its uptrend. Short-term targets
are 130 and 135 levels. Traders with a short-term horizon can buy the stock
with stop-loss at 117.
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