Trade Spotlight: How should you trade JBM Auto, Ceat, Zomato, Sun Pharma, Ipca Labs, and others on Wednesday?

About this update from V L S Finance Limited

The benchmark indices recorded a new closing high on July 9, with a higher top-higher bottom formation, although the breadth was neutral. About 1,176 shares advanced, while 1,168 shares declined on the NSE. The Nifty 50 closed above 24,400 for the first time. If it climbs and sustains above 24,500, then a further rally towards 24,800-25,000 seems likely, while the support is placed at 24,300. Here are some trading ideas for the near term:Ashish Kyal, CMT, Founder and CEO of Waves Strategy AdvisorsJBM Auto | CMP: Rs 2,286.7JBM Auto showed decent buying in the previous session. On the chart, the 30-day Exponential Moving Average (EMA) has successfully supported rallies in the past, with dips towards this average acting as great buying opportunities as major lows have formed at this average. Prices recently bounced back on the upside by taking support from the upward sloping channel. It is gradually moving up towards the previous swing high near Rs 2,428 levels. In short, the trend for JBM Auto is positive. A break above Rs 2,340 can lift the price higher towards Rs 2,428 followed by Rs 2,520, as long as Rs 2,087 holds on the downside.Strategy: BuyTarget: Rs 2,428, Rs 2,520Stop-Loss: Rs 2,087Phoenix Mills | CMP: Rs 4,025.65In the previous session, Phoenix Mills closed with a huge gain of more than 7 percent. There has been a minor consolidation of 20 days, and in the previous session, prices have given a breakout. Follow-up buying is necessary for confirmed confirmation. The price retraced to its support at Rs 3,500 and moved up from it. Currently, the support level for the stock is Rs 3,805. The price has moved outside the upper bands, suggesting high volatility and potential trend continuation. The RSI (Relative Strength Index) is making higher lows and is currently trading at 75, signifying high momentum in the stock. In short, the trend for this stock is positive. One can use the buy on dips method with a target of Rs 4,190 as long as Rs 3,805 holds on the downside.Strategy: BuyTarget: Rs 4,190Stop-Loss: Rs 3,805VLS Finance | CMP: Rs 324.65VLS Finance has been moving higher recently and remains in a strong uptrend. In the previous session, it closed with a gain of 9.94 percent and formed a bullish candle. The price has closed above the Rs 323 level, confirming a breakout of the rounding bottom pattern. The ADX (Average Directional Index) indicator is cur...

View stock analysis, news, and events for V L S Finance Limited