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Published on 22/08/2022 12:31:24 PM | Source: Axis Securities Ltd

Weekly Tech Picks - Astra Microwave Products Ltd, Emami Ltd, Thermax Ltd, Sun Pharma Advanced Research Company Ltd By Axis Securities

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Astra Microwave Products Limited

• On the weekly time frame the stock has decisively broken out one year “consolidation zone” breakout at 292 levels on a closing basis . This breakout is accompanied with huge volumes indicating increased participation

• The stock is well placed above 20, 50, 100 and 200 day SMA’s which reconfirms bullish trend Astra Microwave Products Limited Weekly Tech Picks 19 August,2022reconfirms bullish trend

• On the daily and the weekly time frame, the stock has entered in up trend forming a series of higher tops and bottoms

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

• The above analysis indicate an upside of 338-351 levels.

• *Holding period is 3 to 4 weeks.

Buy Astra Microwave Products Limited CMP: 308 Buy Range: 302-296 Stop loss: 280 Upside: 13% - 17%

Emami Limited

• On the daily time frame, the stock has observed four months “cup & handle” formation breakout at 480 levels along with rising volumes

• The stock is well placed above its 20,50 ,100 and 200-day SMA’s which reconfirm bullish sentiments

• The daily “band Bollinger” buy signal 19 August,2022indicate increased momentum

• On the daily and weekly time frame, the stock has entered in up trend forming a series of higher tops and bottoms

• The daily and weekly strength indicator RSI is in positive terrain and sustaining above 50 mark indicating sustained strength

• The above analysis indicate upside of 530-555 levels. *Holding period is 3 to 4 weeks.

Buy Emami Limited CMP: 490 Buy Range: 485-477 Stop loss: 458 Upside: 10% - 15%

Sun Pharma Advanced Research Company Limited

• On the daily chart, the stock has confirmed four months “inverse head & shoulder ” breakout around 233 levels on a closing basis

• Rising volumes at breakout zone indicates increased participation

• The stock is well placed above its 20, 50 and 100 day SMA’s and sustaining 19 August,202250 and 100 day SMA’s and sustaining above the same which reconfirm bullish sentiments

• The daily “band Bollinger” buy signals indicate increased momentum

• The daily and weekly strength indicator RSI continue to remain bullish and quoting above 50 mark which signals sustained and rising strength

• The above analysis indicate upside of 265-275 levels.

Buy Sun Pharma Advanced Research Company Limited CMP: 242 Buy Range: 238-234 Stop loss: 218 Upside: 12% - 17%

Thermax Limited

• On the daily chart, the stock has confirmed “triangle“ breakout at 2200 levels

• This breakout is accompanied with huge volume spurt indicating increased participation at breakout zone

• On the daily and weekly time frames, the stock has witnessed trend reversal indicating bullish sentiments 19 August,2022

• The stock is well placed above its 20, 50,100 and 200 - day SMA support zone which reconfirm bullish sentiments

• The daily and weekly “band Bollinger” signals increased momentum

• The daily and weekly strength indicator RSI is in bullish mode which supports rising strength

• The above analysis indicate upside of 2455-2565 levels. *Holding period is 3 to 4 weeks

Buy Thermax Limited CMP: 2256 Buy Range: 2250-2206 Stop loss: 2750 Upside: 10% - 15%

 

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