Trade Spotlight: How should you trade Apex Frozen, Hero MotoCorp, Tata Communications, Mahindra Finance, Global Health, and others on November 24?

About this update from Apex Frozen Foods Ltd.

Equity benchmarks saw profit booking after a couple of days of correction, with the Nifty 50 declining nearly half a percent on November 21. The market breadth remained weak, with 2,132 shares declining compared to 697 advancing shares on the NSE. The market is expected to be rangebound until it trades below the previous week’s high. Below are some short-term trading ideas to consider:Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis SecuritiesApex Frozen Foods | CMP: Rs 331.75On the daily and weekly charts, Apex Frozen Foods has experienced a short- and medium-term trend reversal, forming a series of higher tops and bottoms. With the current weekly close, the stock has decisively surpassed the last 3–4 years’ down-sloping trendline on a closing basis, along with huge volumes, which signify increased participation.The daily and weekly Bollinger Band buy signals indicate increased momentum. The daily, weekly, and monthly strength indicator RSI shows rising strength. The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms a bullish trend.Strategy: BuyTarget: Rs 435, Rs 500Stop-Loss: Rs 310Hero MotoCorp | CMP: Rs 6,002.5Hero MotoCorp has registered an over 8% rally and has decisively surpassed the past couple of months’ multiple resistance zone of Rs 5,700 on a closing basis. This breakout is accompanied by huge volumes, which reconfirms increased participation.The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily and weekly strength indicator RSI shows rising strength.Strategy: BuyTarget: Rs 6,300, Rs 6,400Stop-Loss: Rs 5,900Safari Industries India | CMP: Rs 2,275With the past couple of weeks’ price action, Safari Industries has broken out of a one-year down-sloping trendline at Rs 2,250 on a closing basis. Huge volumes on a closing basis signal increased participation. This buying was observed around the major multiple support zone of Rs 2,000–1,930.The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily and weekly strength indicator RSI indicates rising strength.Strategy: BuyTarget...

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