Short motherson sumi futures, buy tvs motors and avoid lupin_ pritesh mehta, iifl – the economic times

ET Now: Talk a little bit about what is going on with Lupin. Gas finder map This stock is a big causality, contributing something like nine points to the Nifty decline. Grade 9 electricity More importantly, it has clearly frazzled a lot of investors, how should one approach a stock which is now at its lowest level since September 2014.

Pritesh Mehta : I think we should avoid this stock. O gastro First of all, the stock on the weekly chart broke below the horizontal support line which was in place since February 2015. Gas in babies that breastfeed Thereafter, it went through a period of consolidation. Gas unlimited houston But again in yesterday’s trading, it was a break down situation and what we are witnessing is a clear cut sign of fresh selling but I am expecting the stock. Gas tax It will go back to levels of Rs 1250-1230 and if it sustains around that level, then I think there could be some sort of pullback coming in but as of now I think we should avoid this counter. Gas 10 8 schlauchadapter Let the stock stabilise before taking any kind of call on this counter.

ET Now: What is the view then on the index as a whole? At 7612 you are seeing quite a bit of weakness. Electricity rate per kwh philippines No doubt pharma is a big drag but you also have some of the rate sensitives which are feeling the heat?

Pritesh Mehta : Now 7745 was the midpoint of the current rally. Electricity in costa rica current From this point onward, the markets are reversing. Electricity and magnetism worksheets In fact, we were expecting the market to find some sort of support at 7630 but the fall is clearly over extended. Electricity in the body symptoms So in this kind of a scenario, we can go back to 7569 which is the starting point of the current orbit. Electricity song 2015 I believe that there is no need to rush in and buy in this market. Electricity orlando We have had a strong run up of 13 per cent from the lows of the budget day so I think the market is at a point from where it wants to reverse rather than jump in and hope for the trades to turn. Electricity n and l I think around 7569-7570 zone, the market could provide some sort of respite and we can see another attempt to surpassing 7745 but I think we will have to wait for some sort of consolidation before jumping in.

ET Now: From the front liners, you have got some of the cement stocks which had been quite resilient for the past many days, now succumbing to selling pressure – the likes of ACC and Ambuja Cements. Electricity out What is your call on some of these names?

Pritesh Mehta : Ambuja Cement had a strong run up. 1 unit electricity cost in bangalore It was one of the outperformers in this month so far. Electricity outage austin We have seen a rally of more than 20 per cent but after a sharp rally, the stock went through a process of consolidation. Gas kinetic energy formula Now the stock has to sustain above Rs 232 for building on the upside. A level physics electricity equations A break below Rs 226 would mean that the stock is now heading lower and in that case it could go back to Rs 215. Electricity worksheets for 4th grade So I think we have to trade the levels rather than taking a call on the counters.

ET Now: You cannot really take your eyes off what is going on in the pharma space as a whole, not just Lupin but the pharma index is languishing at its 15-month low. Gas out game instructions You had Sun Pharma, Reddy’s, Cipla, Shasun, Wockhardt — crumbling in trades on Monday. Gas density Is it a blanket avoid when it comes to the entire pharma space or are there select stocks that you think you can go out bottom fishing. Types of electricity What is the view here?

Pritesh Mehta : I think if you look at the overall index, pharma index, it is going through a tough time. Electricity merit badge pamphlet pdf On the weekly chart it has formed some sort of bearish but a flat pattern. Electricity jeopardy The point is it is the final leg of this pattern. Electricity static electricity Now final leg tends to be extremely explosive that is the reason we are witnessing sharp cuts day after day. Gas density units The point is that at around maybe 9000-9500 levels this index will find some sort of support and from that point onwards we can see a rally coming in but as of now there could be more pain in the offing at least from the short term perspective.

Pritesh Mehta : Bank Nifty had approached 15,900 — now that was the PRZ, that is potential reversal zone, of the bearish shark pattern. Electricity explained From these after hitting that level, the Bank Nifty has reversed and I expect the Bank Nifty to bid on downside. Electricity png It could not come close to 15,500-15,550 levels before finally reversing. Static electricity sound effect So I think there is still more downside left at least for the short term in Bank Nifty.

Pritesh Mehta : First stock is sell recommendation that is Motherson Sumi Futures. Hp gas kushaiguda Now see this stock has been disappointing. Gas natural In fact in between it had a good purple run from the third week of February to the first week of March. Gas what i smoke Thereafter, it went into consolidation. La gas prices It also reversed, rather than building on the upside, this consolidation give a downside breakdown and also the stock reversed. Gas in back So in this scenario, the stock will revert back to the start part of the rally which is Rs 225. Dynamic electricity examples So short Motherson Sumi Futures for target of Rs 225, maintain a stop of Rs 255.

A second recommendation is a buy on TVS Motors. Gas 78 industries TVS Motors has an excellent chart. I feel electricity in my body The stock gave a breakout, in the new orbit altogether in last week’s trade. Gas after eating dairy The stock went into flag consolidation. Electricity pictures information Buy TVS Motors for a target of Rs 340.

Pritesh Mehta : See before we start talking about the outlook for the day or for tomorrow or even the kind of profit booking we witnessed in today’s trade, we need to understand the entire structure of the markets, especially the trading pattern which has developed in the last few days. Electricity lesson plans for 5th grade See for the last two weeks, we have been trading in a range and we all believe that trading within a range is not the ideal place to trade and earn money. Gas bloating pregnancy But only one thing which has emerged out of this trading range is that there is support at lower levels.

I think we are predominantly in a buy on dips kind of a market. C gastronomie limonest There are several continuous support seen around 7700 levels. Gas 99 cents The first one is 7710 Gann support, the second is that at 7784 which is the midpoint of the recent swing. Gas x strips ingredients So again, both the support points came to the rescue of bulls in the last couple of days and now we are standing around 7900 levels. 66 gas station Tuesday’s high was 7940, now if my memory serves me right back in 12th June, 2015 Nifty made a low of 7940 and thereafter it made a strong recovery towards 8500 levels so I think we are standing at critical point between 7940-7990 we are talking about multiple hurdles. Gas leak So I think we should be a bit cautious keeping this trading range in mind. Youtube electricity I believe that we can be aggressively long in this market only once index clears the hurdle of 7990 then we can start talking about targets of 8300-8350.

Pritesh Mehta: It is a range bound market. Gas vs diesel generator Now see, we have seen this in last several weeks whenever index goes close to 7950-7960 levels we always witness profit booking, so this time also it is no different. Wd gaster battle I believe that you have to be a bit cautious rather than getting caught on the wrong foot so I would be bullish in this market, from a short term perspective, only when 7990 is taken out.