The new American President Mr.Donald Trump has taken charge.Indian IT and pharma companies may face some heat, but ultimately everything may cool down as usual.While looking for the picks for 23rd Jan, I found some interesting stock charts.So to find out which type suits us better, I am posting those 2 types as recommendations, you be judge.
As you can see from the chart, this stock went down quite low up to 90 levels, where it found good support before bouncing back to the current level.Seems like momentum is on our side on this stock.
This stock had moved up quite fast from 30 levels, and has been consolidating in 70-80 levels, before this breakout.Past two breakouts have failed,so there is chance for another failure too.But since the fundamentals are good, we will give it a try and see
Other stocks which can be kept in watchlist are Sona Koyo(LTP-71.45 SL-67.8) Shree pushkar cement(LTP-196 SL-186)
Some fundamentally weak stocks just for documentation purpose Harrisons Malayalam(LTP-84.85 SL-80.6 ) Andhra Cement(LTP-9.25 SL-8.79)