Market is a place where all kind of rumors born in pessimism and some quarter take advantage in hammering the stock in the name of somebody else for personal gains.
If the valuation is right even if somebody is involved the stock will find support See that you do not enter at wrong valuations.
Hanung Toy has been hammered from a high of 414 to a low of 171 in few trading sessions on account of price rigging.Here i would like to mention that nothing has been proved till now and speculators are hammering the stock on account of margin selling.
Hanung is having a good business model and investor should accumulate this script for long term after the crash happened in the stock
Looking at Stock Technically it is forming a double bottom at 167 levels and if held can see a bounce till 228 levels in Short term.
If due to distress selling Stock breaks 167 levels on closing basis it can see rs 130 levels which should be used for accumulating for long term perceptive.
ALLAHABAD BANK has completed an impulsion pattern from 160-271 and after that a correction was required which seems to be completed at 201 ,with completetion of a-b-c .
Stock has taken support at its 200 DMA at round 192.25.
Buy above 211 for a Target of 222-234 SL 193
Wipro has made a breakout of its trading range on daily charts as seen in chart
Buy above 454 Tgt 458,466 and 479 sl444
Blue Channels are creating panic though China rate factorWell that is accepted by FII as there is trade surplus in China which clearly suggest rate hike.Today in China an annual economic planning meeting Sunday China vowed for Stable growth and no furthur rate hikes.
Hence i would like to advise investor holding cash to deploy cash at these levels as there will be a V shaped recovery and there will not be chance to get in these levels.
Buy Strong fundamental stocks like SBI,TATA Motors,ITC ,Mid Caps like Hanung Toys,Delta Corp ,HDIL.
Use these panic levels to deploy cash as there is lots of liquidty in market and which will be boon for our Indian market.