Key Points
What is your thought on the market, today a bit of a range-bound move is what we could say at least for the market though right now managing to hold on to some bit of a green, what is your thought on the benchmark indices as well as how could one be reading the run-up that we have again started seeing in the mid and smallcap?..
So, for me 22,300-22,350 zone is a strong support. 22,520 is the resistance level which needs to cross but between that as and when that happens during that time period what we feel is that it is going to be an individual stock picking show that is going to carry on and on a day-to-day basis we are seeing different sectors coming up so that shows a healthy market breadth and overall I feel even from a midcap and a smallcap standpoint, midcap indices are looking stronger than the smallcap counterpart now..
GRSE was in consolidation since the last two and a half to three months and today we have seen a breakout with volumes on the upside, so overall from here on for GRSE 840, 835 zone will act as a strong support and till the time this zone is held we feel that this current momentum in the defence names would take the stock up to 930, 950 on the upside..
If you see the charts here on Cochin Shipyard looks like headed up to 1180, 1230 on the upside and on the downside 980 zone now will act as a safe support...
If you see HPCL, BPCL and ONGC, specifically HPCL right from the time in late February when the crude prices started rebounding from $79-80, HPCL has seen negative momentum on the charts. 560, 550 zones were acting as a resistance and right now the stock is already around 480..
