We see Airtel put in a head and shoulder like formation. There is an opportunity to go long if it is able to break one of the shoulders towards the upside above 325. There is also a small bull flag in front of the consolidation.
Trade Idea: Buy Airtel above 325
Colgate Palmolive has quickly gained 20% in a month and is not showing signs of correction/digestion. We see it has failed to sustain highs and has some resistance near 1290. A break of this resistance could mean it moves towards 1200.
Trade Idea: Short Colgate below 1290
Hindalco has an ugly looking chart with regular rejections every time it tries to go higher. We see really strong support near 210 and it has once again approached level. We see an opportunity to go short below 210 with possible targets of 195-200.
Trade Idea: Short Hindalco below 210
JSW Steel has a definite downtrend with a massive sell-off of about 35%. After some digestion of the downward move, it suggests another move lower if the minor support at 286 is broken.
Trade Idea: Short JSW Steel below 286