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PORTFOLIO ALLOCATION

TITAN COMPANY LIMITED

Observation

* TITAN on the weekly time frame can be seen moving higher for the past 2 week after finding support near the 2200 mark which was placed close to the 20 Week SMA (2270).

* On the daily chart we can see that the prices broke out of a downward slopping trend line and have been forming a higher high higher low pattern ever since. This up move is backed with volumes slightly above the average, indicting participation in the up move.

* On the indicator front the RSI plotted on the weekly chart can be seen placed above the 50 mark and moving higher, indicating increasing bullish momentum in the prices.

* The prices action and the technical parameters mentioned above point towards the possibility of the prices moving higher towards the 2677 (Previous swing high), if the prices sustain above the 2677 mark we might see the prices move higher towards the 2835 (50% extension level of the up move from 1400-2677 projected from 2205) and eventually towards the 2986 (61.8% extension level of the up move from 1400-2677 projected from 2205)

* On the downside the 2380 (Multiple touch point level) will act as a RED FLAG level, if the prices breach below this level our bullish view will be negated.

TITAN: CMP :- 2522.40 Weekly ROC (+8.75%)

HDFC Bank​​​​​​​

Observation

* HDFC Bank on mid term charts is moving with a higher High and Higher low formation. 

* After the recent 18% correction in the stock from the Swing High of 1725, the stock has taken support at it 1380- 1400 Demand Zone (Multiple touch points).

* On the weekly timeframe the stock has formed a bullish engulfing candlestick pattern indicating bullish sentiment in the stock.

* On the indicator front the RSI plotted on the weekly time frame has given a positive hinge near 40 levels.

* Looking at the price action and the technical parameters mentioned above, we can conclude that the stock is moving higher after a correction, we expect this momentum to take prices higher towards 1680 (Swing High zone) if the prices sustain above this level, we might see it move higher towards 1800 (rising trend line resistance)  Our bullish view will be negated if the prices breach below the 1370 mark (Support zone).

HDFC Bank: CMP :- 1479.40 Weekly ROC (+2.81%)

Infosys

Observation

* On the monthly chart we can see that the INFY was basically in a sideways trend when there was a broad based selling across the indices and stocks. This tell us about the underlying strength of the stock for the medium to long term.

* Coming down to the weekly time frame we can see that the prices have broken out of the 5 months consolidation range (1848– 1646 since August 2021).

* On the weekly chart prices have broken above the higher Bollinger Band.

* On the indicator front the RSI plotted on the weekly has witnessed a range shift and is sustaining above 50 level since June 2020.

* Going ahead we can see the prices move higher and towards 1992 (61.8% Fibonacci extension of previous advance 1311-1848 projected from 1661), if the price sustain above the 1992 mark we might see the prices move higher towards the 2082 (78.6% Fibonacci extension of previous advance 1311-1848 projected from 1661).

* Our bullish view will be negated if the prices breach below the 1750 mark.

INFY: CMP :- 1887.75 Weekly ROC (+1.30%)

BIRLASOFT

Observation

* On mid-term charts Birlasoft is continuously moving with a higher highs and lows formation indicating that the mid term trend is extremely bullish.

* In the stock recently broken above the 450 - 520 consolidation range and the prices are sustaining higher since then.

* On the indicator front the RSI plotted on the weekly time frame can be seen placed above the 50 mark, ever since the prices broke above the 20 Week SMA. Currently RSI has moved to the overbought territory as the prices bounce off the 20 Week SMA.

* The Bollinger bands are expanding indicating higher volatility and chances of a trending move going forward.

* Looking at the price action, we believe that the stock has the potential to move higher towards 583 (78.6% Fibonacci extension of previous advance 215-457 projected from 393) followed by 635 (100% Fibonacci extension of previous advance 215-457 projected from 393)

* The Key support level for the stock is placed at 500 if the prices managed to breach below this level, our bullish view will be negated.

BIRLASOFT: CMP: 544.70 Weekly ROC (+2.67%)

SUNPHARMA

Observation

* SUNPHARMA is moving with higher highs and lows formation since April 2020 maintaining uptrend in the mid-term.

* After the recent correction the stock is moving higher with an increase in momentum forming a strong Bullish Marubozu candlestick pattern on the weekly charts.

* Every time the weekly RSI of is taking support at the 50 mark and move higher. The prices are also trying to breach above the higher Bollinger band.

* Looking at the price action and indicators the stock is giving strong Buy signals with potential to move higher towards 960 (78.6% Fibonacci extension of previous advance 562-850 projected from 733) and if prices manage to sustain above 960 then 1021 (100% Fibonacci extension of previous advance 562-850 projected from 733)

* Strong support for this trade is 780 (20 SMA on Daily) on closing basis.

SUNPHARMA: CMP :- 845.70 Weekly ROC (+7.68%)

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