SELL PC JEWELLER @ 119 & SELL BANK of MAHARASHTRA @ 18.10
So here are the Latest Stock Picks from NIFTY.
PC Jeweller Limited is a jeweller based in New Delhi, India. It started operations in April 2005 with one showroom at Karol Bagh, Delhi and 94 showrooms in India. PCJ was a first generation business promoted by two brothers- Padam Chand Gupta and Balram Garg. It presently has 87 stores in 71 cities and 19 states. PC Jeweller engages in the manufacture, export, wholesale and retail of gold and diamond jewelry in India. The company’s business model consists of opening large format, standalone stores at high street locations. The company sells only hallmarked jewellery and certified diamond jewellery.
Stocks of PC Jeweller was in Bull Run after 6 Feb’19 till 16 Apr’19. Stock has raised its price from Rs 62 to 163 which is close to 162% gain. What else is supposed from a stock like PC Jewellers in such a short period of only 2.5 months. Now after a long Bull Run, Stock is respecting the Fibonacci Retracement and correcting the price. Traders from short term horizon can look an opportunity is selling PC Jewellers at current level for a gain of around 6%.
Current Price : 119
Target Price : 112
Stop Loss : 124
BANK of MAHARASHTRA
Traders from short term perspective can short stocks of Bank of Maharashtra at current levels. Stocks of MAHABANK was in uptrend since 25 Mar’19 till 26 Apr’19. On 30 Apr’19, stock has formed Bearish Engulfing Pattern. Also, Relative Strength Index of the stock is hovering at 72.50 which is overbought zone. Stock is likely to see few selling sessions from here. Hence, It is suggested to go short on the stock or book profit if you are holding the stock into your portfolio.
Current Price : 18.10
First Target Price : 17.65
Second Target Price : 16.90
Stop Loss : 18.70
View on Last Trading Tips
My previous call on Radio City & NIIT Technology is going in perfect shape. Stock of Radio City is gaining momentum with current gain of 2.33% and Stocks of NIIT Technology is in downtrend now. Currently hovering at Rs 1293. I am maintaining my calls for these two stocks with no change. Target for Radio City is Rs 68 and for NIIT Technology Rs 1200.
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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.