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