Diwali 2022 : Technical picks By Anand Rathi Share and Stock Brokers
BUY ARVIND FASHIONS LTD
Scrip : ARVINDFASN; Sentiment: BULLISH; Entry : 310-290; Stop Loss: 230; Target :1 400; Target 2 : 440
*In the calendar year of 2021; ARVINDFASN rallied more than 150% in a matter of just 3 months (From 135 it went above 360 mark). Then after it corrected 61.8% of the entire move and has been consolidating.
*At this juncture; it is again on the verge of fresh breakout and that indicates a continuation of the prior uptrend.
*We have been witnessing heavy volumes in the counter with bullish price action and that suggests the possibility of accumulation. Investors / Traders can buy the stock within a time frame of around 1 year.
BUY COMPUTER AGE MANAGEMENT SERVICES LTD
Scrip: CAMS; Sentiment : BULLISH; Entry: 2575-2525; Stop Loss : 2000; Target ; 1 3375; Target 2 3650
*The stock CAMS has retraced exactly 61.8% of the entire rally which started after its listing in the year 2020.
*Now the stock has managed to clear its 200-day moving average and it is on the verge of a fresh range breakout.
*With regards to weekly RSI; the indicator is on the verge of a breakout from the 60 levels which could bring in more strength going ahead. Investors / Traders can buy the stock within a time frame of around 1 year.
BUY DEEPAK NITRITE LTD
Scrip: DEEPAKNTR; Sentiment: BULLISH; Entry: 2225-2175; Stop Loss: 1650; Target: 1 3025; Target: 2 3300
*Since many years; DEEPAKNTR has been in a strong uptrend and it can be seen that the stock has been respecting the placement of 100 weeks’ EMA..
*Even this time; the stock found support at the moving average and has confirmed a breakout from the falling channel.
*Price action indicates that the stock might continue with its northward journey in the coming year too. Investors / Traders can buy the stock within a time frame of around 1 year.
BUY EASY TRIP PLANNERS LTD
Scrip: EASEMYTRIP; Sentiment: BULLISH; Entry: 390-360; Stop Loss: 300; Target: 1 488; Target: 2 525
*Right from its inception (Listing) EASEMYTRIP has a pattern of rising higher then consolidation and then again rising.
*Even at this point in time; the stock has retraced 61.8% of its previous rally and has been consolidating.
*A move above 420 might bring in fresh buying interest in the stock and the weekly RSI suggests the possibility of that breakout. Investors / Traders can buy the stock within a time frame of around 1 year.
BUY FEDERAL BANK LTD
Scrip: FEDERALBNK; Sentiment: BULLISH; Entry:130-120; Stop Loss: 95; Target: 1 170; Target: 2 185
*Recently FEDERALBNK has confirmed a life time breakout above the 121 mark on a monthly closing basis.
*This breakout has occurred after a consolidation of around five years and the bank has been an outperformer among its peers.
*The monthly RSI has sneaked above the 70 mark and this indicates more strength for the ongoing up move. Investors / Traders can buy the stock within a time frame of around 1 year.
BUY GODREJ PROPERTIES LTD
Scrip: GODREJPROP; Sentiment: BULLISH; Entry: 1180-1140; Stop Loss: 900; Target: 1 1550; Target: 2 1689
*Godrejprop has corrected a lot from the top but has been respecting the placement of 200 week’s EMA and SMA since many years.
*We is witnessing a double bottom formation at the demand zone.
*Since the past few months; the volumes have been declining and that indicates that the selling is getting exhausted and that gives excellent risk reward to go long. Investors / Traders can buy the stock within a time frame of around 1 year
BUY MAX HEALTHCARE INST LTD
Scrip: MAXHEALTH; Sentiment: BULLISH; Entry: 425-405; Stop Loss: 320; Target: 1 558; Target: 2 605
*Similar to many other newly listed stocks we shared; even MAXHEALTH has been maintaining its up trend since its listing. .
*Recently the stock confirmed a breakout from the ‘Symmetrical Triangle’ pattern and that happened after finding support at the 200-day moving average.
*The theoretical target for the pattern comes around 540 and then after we might see further upside. Investors / Traders can buy the stock with a time frame of around 1 year.
BUY ZYDUS LIFESCIENCES LTD
Scrip: ZYDUSLIFE; Sentiment: BULLISH; Entry: 410-390; Stop Loss: 320: Target: 1 520; Target: 2 560
*The long-term trend line on the monthly chart of ZYDUSLIFE dictates that the stock is turning from crucial support.
*It has managed to stay above the flat line support of ICHIMOKU and in fact, it is now trading back above the same.
*The stock seems to be resuming its uptrend and in such a scenario, it has the potential to retest life high in the coming months. Investors / Traders can buy the stock within a time frame of around 1 year
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