Trade Spotlight: How should you trade Wipro, Apollo Tyres, ABB India, Gujarat Gas, IDFC, and others on Wednesday?

About this update from Asahi India Glass Limited

Nifty 50 hit a new record closing high for four days in a row, closing 0.4 percent higher on June 18, with about 1,297 shares advancing and 1,054 shares declining on the NSE. The market is likely to remain in positive territory amid consolidation in the coming sessions. Here are some trading ideas for the near term:Ashish Kyal, CMT, Founder and CEO of Waves Strategy AdvisorsMMTC | CMP: Rs 83.83On the daily chart, MMTC closed with a significant gain of 10 percent in the previous session, producing a big bullish candle. Prices were previously moving in a rectangular range, indicating accumulation in the stock. In the previous session, the price closed above this trading range, i.e., above Rs 80.7 levels, which is considered a bullish breakout of the rectangular pattern.It has also given a breakout of the upper end of the Bollinger Bands. If the price manages to do the same again, we can expect the bullish momentum to continue. Additionally, volumes are picking up, which is a good sign. In short, the trend for MMTC is bullish. Use dips towards Rs 82 as a buying opportunity with a target of Rs 87 as long as Rs 79 holds on the downside.Strategy: BuyTarget: Rs 87Stop-Loss: Rs 79Asahi India Glass | CMP: Rs 669.55Asahi India Glass has been moving higher recently and is in a strong uptrend. In the previous session, it closed with a massive gain of 8 percent, forming a bullish candle. The price closed above Rs 660 levels, confirming a breakout of the rounding bottom pattern. The price is trading above the Ichimoku Cloud, indicating that the short-term bias is bullish. In short, the trend for this stock is positive. Use dips towards Rs 650-660 as a buying opportunity for a move towards Rs 730-740 levels as long as Rs 630 holds on the downside.Strategy: BuyTarget: Rs 730, Rs 740Stop-Loss: Rs 630IDFC | CMP: Rs 120.86IDFC formed a large bullish candle in the previous session with more than twice its average volume, closing with a significant gain of 5.2 percent. On the daily outlook, prices faced support from the lower end of the channel on June 5, 2024, and reversed to the upside. With follow-up buying, we can expect a move towards the upper end of the channel near Rs 127 levels.Additionally, prices closed above the Ichimoku Cloud, hinting at a trend change, but we need follow-up action for confirmation. In short, the short-term trend for IDFC looks positive. Use dips...

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