Nifty View:
Today being a triple witching day, markets would be highly volatile so trade cautiously. On the Downside it seems that 5160-5180 will act as good support. And on the upside 5250/5270 will act as good resistance. The expiry of March future contracts may occur between these two levels, so there is a lot to play for the option players this expiry.
Stock View: TVS Motors
As you see in the chart, the green lines here are termed as momentum lines, from which the stock have always tried to bounce back. And Red line is acting as a huge resistance for the stock. So buy Tvs Motors if and only if it sustains above 80 - 81 with a stop loss of 75 with targets of 87/90/100 in short to medium term.
Please watch out for 2 things for a breakout in this stock:
1) Huge vols in the stock
2) Sustained move above 80-81.
Stock View: Alembic Ltd
If you see the chart closely there is a red resistance line from which the stock has retraced back 5 times and a purple support line from which the stock has bounced back 4 times. This indicates these 2 lines are very important lines in the stock's history, now the future lies in the fact that breakout above the red line may fetch very good returns. So Buy Alembic at current levels of 50 with targets of 55/ 62/65 in short to medium term with a stop loss of 44 on closing basis. The long term targets remain at 75/90.
Stock View: Den Networks
Being a very recent listing it doesnt have enough data to analyse it deeply. But just buy looking at the chart it seems that it is facing a lot of resistance in 200-205 zone and the support seems to be in the range of 170-175. So Buy Den Networks if it sustains above 200-205 for quick targets of 220/230 with a stop loss of 190. This is a very short term pick and people should sell if stop loss gets triggered.
Have a nice trading day
Regards
Ankit
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