HUL, ICICI Bank, Bharti Airtel: Trading strategies for result-driven stocks

Only a strong close above Rs 327 holds a key in Bharti Airtel, ICICI Bank holding 20 SMA strongly, Hindustan Unilever has a Falling channel, Britannia Industries trading in oversold territory.

Bharti Airtel Ltd (BHARTIARTL): The weekly chart suggests that the stock is hovering around 200 DMA located at Rs 327. A strong close above the same may lead to a next level of upside towards Rs 350 and Rs 360. From a medium-term perspective, there is trend line support of Rs 270 and Rs 290. The immediate support is at Rs 305. The overall trend remains bullish, as the stock has broken out of a positive consolidation. CLICK HERE FOR DETAILED CHART VIEW
 

ICICI Bank Ltd (ICICBANK): When the Bollinger Band widens, volatility seems to increase. The daily chart suggest a similar scenario for the counter. However, the price is holding strong as trades near ihe 20-day simple moving average (SMA). Till the stock trades above Rs 396.50, its 20 SMA, one can expect a rally towards Rs 414 and Rs 419 levels. The volumes, too, suggest normal layout as stock trades in a tight range of Rs 390 to Rs 407. CLICK HERE FOR DETAILED CHART VIEW
 

Hindustan Unilever Ltd (HINDUNILVR): After a decent rally towards Rs 1,800 levels, the stock started showing weakness and witnessed profit booking. The formation alike “Falling Channel Pattern” reveals a negative trend as per weekly chart. Going ahead, the lower falling trend line shows Rs 1,600 to be the next support level. It did breach 200 DMA, before bouncing towards 100 DMA, which now becomes an immediate resistance located at Rs 1,750. If the stock continuously trades on the lower side, then it may see more weakness, as 50 DMA converges with 200 DMA leading to a “Death Cross” pattern. CLICK HERE FOR DETAILED CHART VIEW
 

Britannia Industries Ltd (BRITANNIA): Investors seems to have lost interest in the counter when it breached six months low of Rs 2,759 with heavy volumes. The next crucial support is Rs 2,600. In case this get violated, it may then may slip to Rs 2,300 levels. That said, the technical indicators are trading in oversold territory. The stocks now needs to show some recovery after a steep fall it seen in the last few days. A reversal may even see resistance around Rs 2,800. CLICK HERE FOR DETAILED CHART VIEW
 

Dabur India Ltd (DABUR): The daily chart shows a clear breakdown in 200 DMA. The last time, when it slipped below this level was on average volumes. This time, however, the volumes depict high level of selling interest from investors. A reversal may see the stock face strong resistance in the range Rs 390 –Rs 395 levels. One can take a bet on this only when it starts settling around those levels. A "Death Cross" pattern can be seen on the daily chart of 50 DMA and 200 DMA. CLICK HERE FOR DETAILED CHART VIEW
 

Ambuja Cements Ltd (AMBUJACEM): Currently, the counter is hovering around its 200 DMA placed at Rs 217.65 as per the daily chart. It illustrates a formation of "Inverse Head and Shoulder," whose major breakdown remains around same level. If this breaks, then we may see correction till Rs 200 – Rs 195 levels. On the other side, the counter faces resistance in the range Rs 230 – Rs 235 levels.  CLICK HERE FOR DETAILED CHART VIEW
 

Tata Power Co. Ltd (TATAPOWER): The Stock has not performed well compared to frontline indices. It has neither crossed lifetime high in last eight years, nor did hold any range, drifting to lower levels. Every possible upside has seen selling pressure and severe resistance. One of the key things missing is follow-up buying. Daily chart reveals trendline breakdown. A rise above Rs 75 may change this negative sentiment. CLICK HERE FOR DETAILED CHART VIEW