Stocks to Buy
WOCKPHARMA sketched DOJI with high volume, indicates the indecisive trend with active participation. The Existing trend was negative and the stock witnessed fall of over 30 percent in last 50 trading session. The recent development indicates the entry of buyers but sellers are also remains in the system. Hence any further price movement would give indication for near term trend.
When compared to its pear or broader market it was considered as under-performer, however the current DOJI pattern indicated technical strength. The Derivative segment witnessed increases in open interest whereas the FII were Net buyers in stock futures.
Observations from 25th Nov 2016
- FII increased 13,504 long positions in stock futures
- WOCKPHARMA was the third largest open interest gainer in stock future segment
- The RSI indication is seen around 22 levels
- Fibonacci Retracement is seen around 775 to 800 zones, can be viewed as resistance
HDFC sketching lower top and lower bottoms a bearish trend formation. But the recent development indicating temporary bounce from current levels. For a short term, trend is bullish above 1260 levels and it can find strong support at 1200 levels. Resistance is seen around 1300; hence consider writing 1240 put option around Rs.30 with the stoploss of 50.
|WOCKPHARMA||Rs. 674||Bullish Above Rs.685||650|
|HDFC||Rs. 1244||Bullish Above Rs. 1260||1200|
|WOCKPHARMA||Buy Equity above 685||Rs.650||720|
|HDFC||Sell DEC 1240 PE around Rs.30||Rs.50||Around Rs.10|
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