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20 August, 2018 14:09 IST
Devang Shah on how to trade in NIIT Tech, Havells and Apollo Hospital
Source: IRIS | 13 Apr, 2018, 10.11AM
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Devang Shah, Technical Analyst at Angel Broking has recommended trading strategies on NIIT Tech, Havells and Apollo Hospital. He gave following rationale for technical strategies:

1. NIIT Tech 
View-Bullish
Last Close-Rs. 916
 
''This IT midcap stock has been enjoying its multi-year 'Bull Run' before slipping into a consolidation mode. This stock managed to maintain its ‘Higher top higher bottom structure' on a Daily chart. At the current juncture, prices seem to have resumed the primary uptrend with a bullish breakout. Prices are well above 10DEMA, indicating short-term bullishness in the counter. Moreover, momentum oscillator i.e. RSI has also given a bullish range breakout indicating a momentum to pick up in near term. Hence, we recommend buying this stock at current levels for a target of '1019' over the next 10-15 sessions. The stop loss should be fixed at Rs 857.''
 
2. Havells
View-Bullish
Last Close-Rs. 548
 
''On the daily chart, post a sharp fall in the month of January from the levels of 590 the stock prices formed a base on the long-term support around 450 levels. At the current juncture, prices seem to have resumed the primary uptrend with a bullish breakout seen post-consolidation. Prices are well above 200 SMA, indicating bullishness in the counter. Also in weekly chart stock has taken a support of 89 EMA i.e 450 level. Hence, we recommend buying this stock at current levels for a target of '589' over the next 10-15 sessions. The stop loss should be fixed at Rs 523.''
 
3. Apollo Hospital
View-Bearish
Last Close-Rs. 1076
 
''Post a sharp fall from the levels of 1263 to 993 in last few months; prices witnessed some relief rally which is in line with broader markets. Looking at the daily chart, we sense the prices are likely to resume the primary downtrend. Momentum oscillator i.e. RSI failed to sustain above the 50mark and is giving a fresh sell signal with its smoothened moving average. Thus, we recommend selling this stock at current levels for a target of '982' over the next 10-15 sessions. The stop loss should be fixed at Rs 1126.''

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