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Published on 18/10/2022 4:34:37 PM | Source: Anand Rathi Share and Stock Brokers

Diwali 2022 : Technical picks By Anand Rathi Share and Stock Brokers

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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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