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Published on 8/08/2022 12:45:03 PM | Source: Axis Securities Ltd

Weekly Tech Picks - BASF India Ltd, Oracle Financial Services Software Ltd, IRB Infrastructure Developers Ltd, ICICI Prudential Life Insurance Company Ltd By Axis Securities

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BASF India Limited

• On the daily time frame the stock has decisively broken out four months “rounding bottom formation ” at 2850 levels on a closing basis

• This buying support was observed from 20 and 100 day SMA’s which remains a crucial support zone

• On the daily and the weekly time frame, BASF India Limited Weekly Tech Picks 05 August,2022the stock has entered in up trend forming a series of higher tops and bottoms

• The stock is well placed above its 20, 50,100 and 200 day SMA which reconfirmed bullish trend

• The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.

• The above analysis indicate an upside of 3110-3230 levels.

Buy BASF India Limited CMP: 2922 Buy Range: 2900-2842 Stop loss: 2750 Upside: 8% - 13%

 

 

Oracle Financial Services Software Limited

• On the weekly time frame, the stock has observed one year “down-sloping trend line” breakout at 3250 levels along with huge volumes

• The stock is well placed above its 100- day SMA (3322) which remains as an immediate support

• The positive crossover of 20 and 50 05 August,2022day SMA signals bullish sentiments in the near term

• On the daily time frame, the stock has entered in up trend forming a series of higher tops and bottoms

• The daily and weekly strength indicator RSI is in positive terrain and sustaining above 50 mark indicating sustained strength

• The above analysis indicate upside of 3710-3820 levels.

*Holding period is 3 to 4 weeks

Buy Oracle Financial Services Software Limited CMP: 3373 Buy Range: 3360-3294 Stop loss: 3130 Upside: 12% – 15%

 

 

IRB Infrastructure Developers Limited

• On the weekly chart, the stock has confirmed ten months “descending triangle” breakout around 225 levels on a closing basis

• Rising volumes at breakout zone indicates increased participation

• The stock is well placed above its 20, 50, 100 and 200 day SMA’s and sustaining above the same which reconfirm bullish sentiments

• The daily “band Bollinger” buy signals indicate increased momentum

• The daily and weekly strength indicator RSI continue to remain bullish and quoting above 50 mark which signals sustained and rising strength

• The above analysis indicate upside of 270-282 levels.

Buy IRB Infrastructure Developers Limited CMP: 250 Buy Range: 245-240 Stop loss: 228 Upside: 11% – 16%

 

 

ICICI Prudential Life Insurance Company Limited

• On the weekly chart, the stock has confirmed “horizontal channel“ breakout at 570 levels

• This breakout is accompanied with huge volume spurt indicating increased participation at breakout zone

• The stock is well placed above its 20, 50,100-day and 200 SMA support zone signals increased momentum

• The daily and weekly “band Bollinger” signals increased momentum

• The daily and weekly strength indicator RSI is in bullish mode which supports rising strength

• The above analysis indicate upside of 620-650 levels.

• *Holding period is 3 to 4 weeks.

Buy ICICI Prudential Life Insurance Company Limited CMP: 580 Buy Range: 570-560 Stop loss: 535 Upside: 10% –15%

 

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