Short Term Pick: Wel Corp

Analysis:

• ·         Stock has given flag breakout on daily chart by big white candle closing above trendline.  
• ·         Stock is in uptrend buy following higher top higher bottom pattern on daily chart.
• ·         Stock is tagging upper Bollinger band and closed out of this band suggest bullish strength in this counter.
• ·         Indicators like RSI, MACD, ROC & ADX suggesting buy signal.
• ·         Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest it’s in uptrend.

Strategy: Buy Welcorp at CMP- 77.65 for possible Target- 100 with stop below 72 on daily closing basis.

Mid Term Pick: Buy TV Today

Analysis:

•            Stock is forming huge rounding bottom pattern from 2009 to present and now facing resistance at 124.
•      Stock is tagging upper Bollinger band which suggest upward strength in this counter.   
•      The momentum oscillator RSI taking support of trendline & ADX slope is raising and price too suggest strong up trend.
•      The yearly ROC is in the positive zone which is again positive sign.
•      Further stock is above its 20 day SMA, 50 days EMA, 100 days EMA and 200 day EMA which suggests  the stock is in up trend.

Considering above all factors,

            Buy TV Today CMP- 124.05 and add on dips to 114 for the possible target 150- 170- 200 with the stop loss of 106 on weekly closing basis. Some sharp up move expected above 125 up to 150. (Time period: 2-3 months)