Mangalore Chemical, Kaveri Seeds are the top trading ideas of Vinay Rajani


Market place Perspective


The NSE Nifty has been finding resistance on the downward sloping craze line, adjoining the former swing highs on the weekly charts. Craze-line resistance is positioned someplace in the selection of 18,100-18,150. However, positional pattern of the sector is bullish, and thus dips really should be used to initiate new longs. Aid for the Nifty is found in the gap spot, shaped on April 04, 2022 concerning 17,703 and 17,791, exactly where traders can go lengthy for the upside concentrate on of 18,200, trying to keep a prevent decline at 17,400.







Mangalore Chemical and Fertiliser: Obtain


Goal: Rs 102


Halt Reduction: Rs 86


Last near: Rs 91.30


The stock has damaged out from a descending triangle on the weekly chart and the rate breakout has been accompanied by leap in volume. The inventory has surpassed the important resistance of former swing higher at Rs 86.60. The weekly MACD has been growing and has arrived at earlier mentioned equilibrium line. The weekly RSI too has been rising with higher tops and greater bottoms. Chemical and fertilizer sector has been outperforming for the previous couple of months. The stock is positioned higher than all essential moving averages, indicating bullish pattern on all time frames.


Kaveri Seeds: Invest in


Goal: Rs 660


Quit Loss: Rs 580


Final Near: Rs 601.80


The downward sloping development line breakout is witnessed on the weekly charts, and the selling price breakout has been accompanied by a leap in quantity. The inventory surpassed its prior prime resistance of Rs 585 on the weekly chart and is now positioned above all important relocating typical parameters. Indicators and oscillators like RSI, DMI and MACD have been showing energy in the recent up go. The stock has started off forming higher tops and greater bottoms on the weekly chart.


(Vinay Rajani, Technical Study Analyst, HDFC securities. Sights expressed are particular).

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