Big Movers Radar–ABFRL, Bata India, Bandhan Bank , Powergrid, Bharti Airtel and UPL

Nifty and Broader Market is holding on strong in a weak Global Environment.

In this case any bounce back any bounceback from oversold zones in US markets could be a time where stock specific moves can be big in Indian Equities.

A list of Midcaps and largecaps which are showing relative strength as well as strong technical formations.

Disclosure – Please do read the disclaimer. The author may have exposure and vested interests.

 

The Open up theme next

We had looked at the Opening up them as a recommendation in Technical Traders Club in Feb end.  A good to time to subscribe this service

 

 

Have booked out half in all above positions. But continue to like the theme on dips.

A related theme could be Retail and even up Commercial real estate like Nesco.

Couple of interesting charts.

 

ADITYA BIRLA FASHION RETAIL

 

• Good base at 260-280.
• Multiple tops at 320-330.
• Can eventually breakout. Good Risk-Reward here.

Bata India

• Retest of the big breakout done at 1700
• The range continues to contract.
• A big move into all time highs if it can cross 2000 with volumes.
• Can pre-empt here with stops at 1900.

 

Bandhan Bank

A lot of MFI stocks have been showing relative strength.

An interesting sector to keep on radar.

 

• Holding above the last highs of Jan Feb 2022.
• Tight consolidation around the breakout.
• Holding strong in a tough market.
• Upside Breakout open till it holds above 320.
• Watch for momentum on sustaining 340.

 

Two Large Cap Low Volatile Stocks.

 

Powergrid

• The largest weight in the PSE indices.
• Retest of last breakout done.
• Holding strong in weak market.
• Bigger move above 235-237

Bharti Airtel

• The stock has a tendency to go into sideways move after a breakout.
• Good Consolidation done after the earlier big move.
• Retest of recent breakout of 725 done.
• Can eventually breakout above 780-784.
• Can pre-empt here with a stop of 720.

1 Stock from the Large Cap space nearing 1 year breakout.

 

UPL Limited

• Saw a deep hit in the Russia-Ukraine Conflict and a super fast recovery too,
• In touching distance of the breakout.
• Above 840-850 can blast.

 

 

Also do read our latest weekly newsletter. ( The Dow and Nifty part is very interesting.)

NooreshTech Weekly Insights – 29th April 2022

1) Insider Trading Alert

2) Dow and Nifty – Need not go Inline

3) Global Currencies

4) Post Covid World - Nasdaq outperformance fading

 https://bit.ly/37OWzt9 ( Do read the Dow and Nifty part. Very interesting. )

 

 

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