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

Stock to buy

  1. FII increased 13,504 long positions in stock futures
  2. WOCKPHARMA was the third largest open interest gainer in stock future segment
  3. The RSI indication is seen around 22 levels
  4. 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.

Price Expectations

WOCKPHARMARs. 674Bullish Above Rs.685650
HDFCRs. 1244Bullish Above Rs. 12601200

Trade Plans

WOCKPHARMABuy Equity above 685Rs.650720
HDFCSell DEC 1240 PE around Rs.30Rs.50Around Rs.10

post your observation under the below comment sections..

Stocks to Buy WOCKPHARMA and  Sell HDFC 1240 DEC PUT
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Stocks to Buy WOCKPHARMA and Sell HDFC 1240 DEC PUT
Stocks to buy WOCKPHARMA sketched DOJI with high volume and HDFC indicating temporary bounce from current levels
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