Axis Top Picks For The Week : Asahi India Glass Ltd, Indo Count Industries Ltd, DCB Bank Ltd, Aditya Birla Fashion and Retail Ltd
Asahi India Glass Limited
• On the weekly time frame the stock has decisively broken out eight months “cup & handle” breakout at 600 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
• On the daily and the weekly time frame, the stock is in strong 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 695-725 levels.
• *Holding period is 3 to 4 weeks.
Buy Asahi India Glass Limited CMP: 632 Buy Range: : 625-613 Stop loss: 580 Upside: 12% - 17%
Indo Count Industries Limited
• On the weekly time frame the stock has decisively broken out eight months “cup & handle” breakout at 600 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
• On the daily and the weekly time frame, the stock is in strong 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 695-725 levels.
• *Holding period is 3 to 4 weeks.
Buy Indo Count Industries Limited CMP: 162 Buy Range: :158-155 Stop loss: 148 Upside: 12% – 19%
DCB Bank Limited
• On the weekly chart, the stock has confirmed one year “down-sloping channel ” breakout around 90 levels on a closing basis indicting trend reversal. Rising volumes at breakout zone indicates increased participation
• The stock is well placed above its 20, 50,100 and 200-day SMA’s and sustaining above the same which 26 August,2022sustaining above the same which reconfirm bullish sentiments
• The daily and weekly “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 108-117 levels.
Buy DCB Bank Limited CMP: 98 Buy Range: :95-92 Stop loss: 86 Upside: 16% – 25%
Aditya Birla Fashion and Retail Limited
• On the daily chart, the stock has confirmed “multiple resistance zone“ breakout at 295 levels
• This breakout is accompanied with huge volume indicating increased participation at breakout zone
• On the daily and weekly time frames, the stock has formed a series of higher tops and bottoms
• The stock is well placed above its 20, 50,100 and 200 day SMA support zone which reconfirm bullish sentiments
• The daily and weekly strength indicator RSI is in bullish mode which supports rising strength
• The above analysis indicate upside of 335-348 levels.
• *Holding period is 3 to 4 weeks.
Buy Aditya Birla Fashion and Retail Limited CMP: 305 Buy Range: :298-294 Stop loss: 276 Upside:13% –18%
Radico Khaitan Limited
• On the weekly chart, the stock has confirmed an “inverse head & shoulder“ breakout at 1000 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 26 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 1130-1175 levels.
*Holding period is 3 to 4 weeks.
Buy Radico Khaitan Limited CMP: 1039 Buy Range: :1025-1005 Stop loss: 955 Upside:11% –16%
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