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Best Stock Trading Ideas – 23 Apr’19

SELL BALRAMCHIN @ 143.35 & NESCO @ 503.50

SELL BALRAMCHIN @ 143.35 & NESCO @ 503.50

So here are the Latest Stock Picks from NIFTY.

Balrampur Chini Mills Ltd

As per my previous BUY Call on Balrampur Chini Mills was a huge success where stock raised price from Rs. 132.05 to Rs. 144 around 9% growth within 10 Days. I hope you have also got benefit from this wonderful opportunity.

Now this stock is supposed to take a breath for some time. Because, BALRAMCHIN has formed Bearish Harami Pattern on Monday, 22 Apr’19. Relative Strength Index of the stock is moving towards negative zone and currently hovering at 59.73 which shows a Bearish Sentiment in the market. Current level is representing a Resistance level for the stock. Also, this stock is hovering in the upper zone of Bollinger Band and should take a deep breath now. Traders from short term perspective can look for an opportunity to earn from stock market.

Current Price : 143.35
Target Price : 140 & 138
Stop Loss : 145

NESCO Ltd

As per my previous BUY Call (Coincidently on the same date as BALRAMCHIN 🙂 ) for Northeastern Electricity Supply Company (NESCO) at Rs. 452 went excellent and stock has raised by 11% with in 18 days. What else a trader can think from stock market.

Now I am revising my view with a Sell Call on the stock. Traders from short term horizon can look for a Shorting Opportunity on the stock. Because, NESCO has made a Bearish Harami Pattern on Monday 22nd Apr’19. Relative Strength Index of the Stock is currently in Overbought Zone @ 64.89 and moving toward Neutral Zone with above than average volume on daily charts. DMA 21, DMA 50 and DMA 200 are not supporting the stock. As a result, this stock should correct the price for better strength.

Current Price : 503.5
Target Price : 497.50
Stop Loss : 512

View on Last Trading Tips

As per my previous call on EXIDE INDUSTRIES & SOBHA LTD. went amazing with 2%+ gain in intraday only from a Bearish Market. You can check the Stock Ideas and see yourself.If you are also looking for a good opportunity to earn from Stock Market, you can follow our blog and let us know if you want to discuss your shares as well.

Note: Above mentioned Stock Tips are based on Technical or Fundamental Analysis however, Stock market is always volatile and risk is always included in the investment. Author is not liable for any losses.

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