IGI Logo

Hero MotoCorp Limited

• On the daily chart, the stock has rebounded sharply from 2146 levels and confirmed “double bottom” – trend reversal pattern

• In addition, the stock has confirmed higher top and higher bottom formation which reconfirm bullish sentiments

• This buying momentum was observed Hero MotoCorp Limited Weekly Tech Picks 06 May,2022from 20 day SMA (2306) and rebounded sharply

• The daily “band bollinger” buy signal reconfirm positive bias

• 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 2750-2850 levels.

• Holding period is 3 to 4 weeks.

Buy Hero MotoCorp Limited Buy Range: : 2560-2510  CMP: 2570 Upside: 8% - 12% Stop loss: 2395

Coromandel International Limited

• On the weekly chart, the stock is in up trend forming a series of higher tops and bottoms indicating strong up trend

• This formation has also taken a shape of “rounding bottom “ formation which remains a positive sign

• This buying momentum was observed from its 20-day SMA (821) and 06 May,2022rebounded very sharply

• Rising volumes on a rally implies increased participation on a rally

• The weekly “band bollinger” buy signal reconfirm positive bias

• The daily, weekly and monthly strength indicator RSI signals positive crossover indicate rising strength

• The above analysis indicate upside of 965-1000 levels.

* Holding period is 3 to 4 weeks.

Buy Coromandel International Limited Buy Range: : 900-882 CMP: 913 Upside: 8% – 12% Stop loss: 855

Power Grid Corporation of India Limited

• On the daily chart, the stock is inching upward forming a series of higher tops and bottoms across all the frames indicating sustained up trend

• In addition , the stock is trending in Upsloping channel which reconfirm positive bias

• The stock is well placed above its 20, 06 May,202250, 100 and 200 day SMA which reconfirm bullish trend

• Sustained volumes on a rally implies rising participation

• The daily, weekly and monthly strength indicator RSI signals positive crossover indicate rising strength

• The above analysis indicate upside of 255-265 levels.

• Holding period is 3 to 4 weeks

Buy Power Grid Corporation of India Limited Buy Range: : 236-232 CMP 238 Upside: : 9% – 13% Stop loss: 221

Titan Company Limited –May Fut.

• On the daily chart, the has confirmed “multiple resistance” (132) breakout on a closing basis

• This breakout is accompanied with huge volumes which signals increased participation

• The stock has recaptured its 20, 50, ,100 and 200 day SMA and rebounded 13 April,2022very sharply

• The daily “band bollinger” buy signal reconfirm positive bias

• The daily and weekly strength indicator RSI signals positive crossover indicate rising strength

• The above analysis indicate upside of 147-153 levels.

• Holding period is 3 to 4 weeks.

Sell Titan Company Limited –May Fut. Sell Range: : 2250-2295 CMP 2213 Upside: : 8% – 11% Stop loss: : 2360

To Read Complete Report & Disclaimer Click Here

For More Axis Securities Disclaimer  https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633

Above views are of the author and not of the website kindly read disclaimer