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Adani Enterprises can move further downNSE:ADANIENT CLSA has downgraded its rating on Adani Enterprises BSE -1.43 % to 'sell' from 'underperform' due to continued margin pressures in its mainstay coal trading business and potential write-down at its Carmichael coal venture. "Coal trading Ebitda for 1Q was less than US$1/t (Rs60/t) - down 76% YoY, with segment profit at three-year lows. ADE (Adani Enterprises) expects that the coal import volumes will not collapse as feared, due to cost benefits for customers near coastal areas .. One can expect a Accelerated downward movement towards 68 levels before any support comes in and any weakness further from 68 can results in swift movement towards 60 levels
NSE:ADANIENTShort
by Sg_bangalore
Bullish on MRF (Long term) - Another opportunity to enterMRF has broken out of a high degree downtrend and is consolidating above the UTL (of the entire move down). Any move above the UTL (of the current consolidation) could be a good entry point for holding it till a target to new highs. This is in continuation of the previous post on MRF, in case that was missed (link attached). The fib levels would act as support. So the up move could start from one of them or from the long term downward sloping trendlines of the downtrend.
NSE:MRFLong
by tushargupta1991
TATA Power adds more power to their Kitty!NSE:TATAPOWER Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, Cennergi (Pty) announced commencement of commercial operations for its 95 MW Tsitsikamma Community wind farm project on Thursday. Technically on weekly chart, price is moving up from a significant base formation and consolidation. I expect price to hit 90 levels over next few months. Keep 70 levels as stop-loss and trade cautiously. Volume spike over last two spikes indicate that smart money is investing in the script.
NSE:TATAPOWERLong
by Sg_bangalore
NMDC ...breakout after consolidationNSE:NMDC .NMDC India's largest Iron ore producer is going to benefit from firming of Global prices. With the revision of Chinese GDP growth rate by Moody's, I expect commodity prices to hold its reins over next few months. NMDC has formed firm base around 90-100 levels and It has consolidated over six months. It is on the verge of breakout from cloud and Momentum is visible both on weekly and daily charts. One can expect 130 levels over next few month. Keep your stop loss around 90 and trade cautiously.
NSE:NMDCLong
by Sg_bangalore
Bullish on DHP India (short term and long term)DHP India just seems to be starting a major uptrend. It's possible we're at the wave 2 low and hence a great opportunity to go long. RSI has also taken support at the 40 level. (Confirmation of wave 2 low would be after a close above the UTL.) Ideally, wave 2 shouldn't be broken. A move and close inside the 0-B trendline could be a big spoiler for this count. However, a reversal right from the 0-B trendline would be further bullish.
BSE:DHPINDLong
by tushargupta1991
Monsoon fuels Jain irrigation NSE:JISLJALEQS Excellent Monsoon rains can help Jain irrigation to increase their revenue in coming quarters. After few years of drought several government initiatives to support Micro irrigation systems is also in its favor. Results are due on August 12th , so some care is required while trading but the target is 80 for the coming month and one can see easily 92 levels in next few quarters Technically stock has been in sideways to bullish trend for over six months. MACD has just turned Bullish on daily charts and price is above Ichimoku cloud. I expect a breakout this month.
NSE:JISLJALEQSLong
by Sg_bangalore
IDEA can see lower levels...NSE:IDEA IDEA has broken support levels around 103 after moving sideways for a while. Telcos are under clear pressure with imminent launch of Reliance JIO and over the next few quarters, pressure on CAPEX and ARPU is going to be significant. Technically it is in bearish trend both on weekly and daily charts. MACD has turned bearish and Price has failed to break thru Ichimoku resistance cloud. First target for idea is : 95 And if 95 levels are broken with significant momentum one can expect to see 70 levels over next few quarters. Stop loss for traders is 106.75
NSE:IDEAShort
by Sg_bangalore