The uncertainty period seen during the first week of March which led to sideways consolidation appears to be a distant memory.

Ever since the outcome of UP state elections; it has been the case of no looking back for Indian equities; particularly for NSE Mid-cap index. The recent price performance shows that select index heavyweight stocks are taking the index higher RIL, HDFC, and SBI while stocks from broader markets are making fresh breakouts and witnessing follow-up buying.

Posting a recovery from low of 9,, it confirmed a close above the midpoint of the four-digit Gann channel i. The first line of defense as per Gann rule of 8 also appears at 9, which should be considered as trailing stop loss on the long positions in the index. Here is a list of top five trading ideas based on technical parameters for short term: From the peak of Rs1,, the stock went through a sharp decline and made a low of Rs1, in November A breakdown from upward sloping channel contributed to this decline.

However, ascending trendline support since came to the rescue as the stock began a phase of gradual upmove. Current chart structure suggests a potential harmonic set-up of a bearish bat. Moreover, recent momentum has also ensured a move above the three-digit Gann number of Rs 1,, suggesting that the stock has shifted the orbit on the upside. It is currently in the process of forming the last leg of the above-mentioned pattern, which suggests a parabolic move on the horizon.

Also, it has registered a close above its WEMA which acted as a point of a reversal back in February Based on above rationales, we recommend a buy on ACC above Rs1, with a stop loss of Rs1, for an upside target of Rs, Siemens has staged a breakout from a downward sloping trendline connecting the previous peaks.

It also resulted in a move above its On a longer time frame, it suggests the beginning of a new cycle. Post the breakout move on 14th March , the stock has not given a close below the four-digit Gann number of , suggesting that it is moving in a new orbit on the upside.

Earlier, the peak of Rs1, in August resulted in a correction for the stock. Ratio chart of Nifty Infra index against the Nifty index shows it is currently on the last leg of bearish bat pattern, which suggests strong move within this sector in the near term.

Based on above rationales, IIFL recommends a buy above Rs1, with SL of Rs1, for a target of Rs1, BUY Target Rs Stop Loss Rs Upside 7. The phase of consolidation after a sharp decline suggests exhaustion of selling pressure. Back in August , it had made a peak of Rs1, and went through a sharp correction, unable to sustain above the four-digit gann number of The underperformance was in place for However, it took support at its WMA and began a process of gradual recovery.

A close above Rs would lead to a shift in the orbit on the upside.

The pattern of higher lows on the higher time frame keeps the positive structure intact. Keeping in mind, above mentioned parameters, IIFL recommend a buy on Cummins above Rs with a stop loss of Rs for a target of Rs1, After being in a phase of consolidation at the top of its rally, it finally staged a breakout on the upside.

It is showing the trait of a stock which is in a strong uptrend since December Since last six weeks, the sideways consolidation at the top of its trend can be termed as bullish consolidation. The outcome of such sideways movement are dealt positively during an uptrend. Moreover, it continues to trade above its EMA.

Nifty realty index is showing signs of revival after a prolonged major underperformance vs Nifty. Ratio chart of Nifty Realty index vs Nifty indicates that ongoing rally in Realty stocks are likely to continue. DLF appears to be best-placed stock from the entire space and is likely to see follow-up buying.

Based on above parameters, IIFL recommends a buy on DLF above Rs with SL of Rs for a target of Rs Since the first week of March , the stock had been trading in a narrow band of Rs However, despite sideways movement, it continued to trade above its DMA. Earlier in February , the stock provided a strong breakout from base building pattern, which suggests that the stock is in a strong uptrend. Every consolidation or a decline is providing a buying opportunity. Breakout from flag consolidation is likely to ignite buying momentum once again.

Traders are advised to buy Jindal Steel above Rs with a stop loss of Rs for a target of Rs Farm loan waiver a concern if follow-up action missing; focus on high quality cos: Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.

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