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Published on 19/04/2021 10:04:50 AM | Source: Axis Securities Ltd

Weekly Tech Picks - Hindalco Industries Ltd, Strides Pharma Science Ltd, Dilip Buildcon Ltd, Navin Fluorine International Ltd by Axis Securities

Posted in Broking Firm Views - Short Term Report| #Trading Report #Axis Securities Ltd

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Weekly Tech Picks - 

Hindalco Industries Limited

* On the daily chart, the stock is continue to scale up in “Rising Channel” sustained up trend across all the time frames

* Stock has also bounced back from its 20-day SMA (337) which remains a crucial support zone

* The stock is well placed above it 50, 100, 200 Day SMA which reconfirms bullish sentiments ahead

* Huge volumes spurt on breakout confirm increased participation on rally

* 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 387 -395 levels

*Holding period is 3 to 4 weeks.

Buy Hindalco Industries Limited @364-358 CMP: 368 Stop loss: 348

 

Strides Pharma Science Limited

* The stock has decisively broken out its four months “Down-Sloping Channel” around 900 levels on closing basis indicating strong come back of bulls

* The stock gained momentum along with rising volumes which signals increased participation at breakout zone

* This buying momentum was observed from 20, 50 and 100 day SMA support zone

* The weekly strength indicator RSI and the momentum indicator Stochastic both are in bullish mode along with positive crossover has observed a upward breakout supporting rising strength

* The above analysis indicate an upside of 970-1000.

Buy Strides Pharma Science Limited @900-882 CMP 919 Stop Loss 852

 

Dilip Buildcon Limited

* On the daily chart, the stock has witnessed breakout from its two months “Down-Sloping Trend line” around 571 levels on a closing basis which signals change of trend towards upside

* The stock has also witnessed buying momentum from its earlier swing low (538) which remains a crucial support

* The stock is well placed above its 100 and 200 day SMA which supports bullish sentiments on medium term time frame

* The daily strength indicator RSI and the momentum indictor Stochastic both have observed a positive crossover which supports rising strength

* The above analysis indicate an upside of 620-635 levels

*Holding period is 3 to 4 weeks

Buy Dilip Buildcon Limited @575-565 CMP 586 Stop loss: 545

 

Navin Fluorine International Limited

* On the weekly chart, the stock has witnessed “Consolidation Zone” (2800- 2240) breakout which signals continuation of the earlier up move

* Rising volumes on the weekly chart, signals increased participation on breakout zone

* On the weekly time frame, the stock has witnessed “Bollinger Band” breakout which signals increased volatality

* Currently stock is well placed above its 50, 100 and 200-day SMA which reconfirm out bullish thesis 

* The daily and weekly strength indicator RSI is in bullish mode and placed above 50 mark which supports rising strength.The above analysis indicate an upside of 3290-3350 levels

*Holding period is 3 to 4 weeks.

Buy Navin Fluorine International Limited @3080-3020 CMP 3120 Stop loss: 2930

 

 

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