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Published on 1/08/2021 4:24:18 PM | Source: Axis Securities Ltd

Weekly Tech Picks - Max Healthcare Institute Ltd, Aarti Industries Ltd, Godrej Properties Ltd, Indraprastha Gas Ltd By Axis Securities

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Max Healthcare Institute Ltd

On the daily chart, the stock has witnessed Multiple Resistance breakout around 285 levels which signals resumption of the uptrend

Huge volumes on the breakout , signals increased participation near breakout zone

The stock is strong uptrend as it is continue to form a series of higher Tops and higher Bottom formation across all the time frames

The stock is also well placed above its 20, 50 and 100 Day SMA which reconfirm bullish trend

The daily and weekly strength indicator RSI is placed above 50 mark which supports rising strength. The above analysis indicate an upside of 318-327 levels.

Buy Max Healthcare Institute Ltd Buy Range: 292-288 CMP: 298 Upside: 10% -13% Stop loss: 276

 

Aarti Industries Ltd

On the daily chart, the stock has witnessed “Rounding Bottom” formation breakout at 920 levels

This buying momentum also emerged from its 20 and 50-day SMA support zone which reconfirm bullish sentiments

Rising volumes at breakout zone signals increased participation on correction

The stock is well placed above its 20, 50 and 100 day SMA which supports bullish sentiment.

The daily and weekly strength indicator RSI is in bullish mode which supports rising strength as well as momentum.The above analysis indicate an upside of 980-1025 levels

Buy Aarti Industries Ltd Buy Range: 930-912 CMP: 938 Upside: 6%-11% Stop loss: 890

 

Godrej Properties Ltd

On the weekly chart, the stock has witnessed “Rounding Formation” breakout at 1560 levels on a closing basis along with rising volumes.

On the daily and weekly chart, the stock continue to scale upward forming higher Top and higher Bottom formation indicating sustained uptrend

The stock is well placed above its 20, 50 and 100 day SMA which reconfirms upside momentum

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

The above analysis indicate an upside of 1710-1750 levels

*Holding period is 3 to 4 weeks

Buy Godrej Properties Ltd Buy Range: 1609-1577 CMP: 1609 Upside: 7% – 12% Stop loss: 1535

 

Indraprastha Gas Ltd 

Since past 6-7 months, the stock has observed strong accumulation within 580 to 480 levels

On the daily chart, the stock has gained good buying momentum from its 61.8% Fibonacci Retracement support of 537

This support is also coincides with its 50 day SMA which remains a crucial support to watch for

On the daily chart, the stock continue to scale upward forming higher Tops and Bottoms.

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

The above analysis indicate an upside of 590-610 levels

Buy Indraprastha Gas Ltd Buy Range: 559-549 CMP: 559 Upside: 6% – 10% Stop loss: 535

 

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