ITC, HDFC, Airtel, Avenue Supermarts: Trading strategies for stocks in news

Here is how you can trade in these news-driven counters and maximise your gain

ITC Ltd (ITC): The counter is well placed with a breakout of 'Double Bottom' as per the daily chart. It did see sell-off at 50-days moving average (DMA), but soon conquered the selling pressure. Now, with stability returning since the past few sessions, the stock is moving towards the next resistance of 100-DMA placed at Rs 196 levels. The Moving Average Convergence Divergence (MACD) has crossed the zero line upward, which suggests positive momentum with an upward bias. The support remains at Rs 180 levels. CLICK HERE FOR THE CHART

Housing Development Finance Corporation Ltd (HDFC): The stock has resisted crossing its 50-DMA during the recent up move. The 50-DMA is currently placed at Rs 1,690 levels, and has become the most significant hurdle for any sustained upside. The MACD failed to cross the zero line, indicating selling pressure at higher levels. Going forward, any breach of the reversal / support level of Rs 1,470 can see selling pressure accelerate with the overall sentiment dipping in a bearish phase. CLICK HERE FOR THE CHART

Bharti Airtel Ltd(BHARTIARTL): After hitting a new lifetime high of Rs 612, the counter witnessed selling pressure on account of the block deals and drifted towards Rs 550 levels. Till it trades above Rs 520, which is the trend changing support, the counter should trade with a positive bias. On the other hand, a sentimental close above Rs 600 may see the addition of longs with strong volumes. The overall trend looks bullish above Rs 520 levels. CLICK HERE FOR THE CHART

Avenue Supermarts Ltd (DMART): The counter fell short by Rs 40 in hitting a new lifetime high of Rs 2,560. That said, the overall momentum looks strong till the scrip holds above Rs 2,350 on a closing basis. On the downside, a major turnaround may happen below the support of 100-DMA, placed at Rs 2,152 levels. CLICK HERE FOR THE CHART