Weekly Tech Picks - AU Small Finance Bank Ltd, Vidhi Specialty Food Ingredients Ltd, Igarashi Motors India Ltd, Brigade Enterprises Ltd - Axis Securities
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AU Small Finance Bank Limited
* On the daily chart, the stock has witnessed “Rounding Bottom” formation breakout around 1160 levels which signals resumption of the uptrend
* Huge volumes on the breakout , signals increased participation near breakout zone
* The stock is strong uptrend as it is AU Small Finance Bank Limited Weekly Tech Picks 09 July, 2021 continue to form a series of higher Tops and higher Bottom formation across all the time frames
* The stock is also well placed above its 20, 50 and 100 Day SMA which reconfirm bullish trend
* The daily and weekly strength indicator RSI is placed above 50 mark which supports rising strength. The above analysis indicate an upside of 1270- 1320 levels.
* Holding period is 3 to 4 weeks.
Buy AU Small Finance Bank Limited Buy Range: 1170-1150 CMP:1191 Upside: 9% -14% Stop loss: 1090
Vidhi Specialty Food Ingredients Limited
* On the weekly chart, the stock has witnessed “Consolidation Zone” breakout around 240 levels indicating strong comeback of bulls
* On the daily and weekly chart, the stock has formed a higher Tops and higher Bottoms formation indicating strength
* On the daily and weekly chart, the stock 09 July, 2021 has observed “Bollinger Band” buy which reconfirms upside momentum
* The stock is well placed above its 20, 50 and 100 day SMA which supports bullish sentiment.
* The daily and weekly strength indicator RSI is in bullish mode which supports rising strength as well as momentum.The above analysis indicate an upside of 290-312 levels
* Holding period is 3 to 4 weeks.
Buy Vidhi Specialty Food Ingredients Limited Buying Range: 266-262 CMP: 273 Upside: 10%-18% Stop loss: 246
Igarashi Motors India Limited
* With current close, the stock has broken out its “Pennant Formation” (continuation pattern) at 500 levels on a closing basis along with rising volumes.
* On the daily and weekly chart, the stock continue to scale upward forming higher Top and higher Bottom formation indicating sustained uptrend
* The stock is placed above its 20, 50 day SMA and averages are also inching upward along with prices , which reconfirm s positive bias
* The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength
* The above analysis indicate an upside of 598-630 levels
* Holding period is 3 to 4 weeks.
Buy Igarashi Motors India Limited Buying Range: 551-541 CMP: 551 Upside: 10% – 15% Stop loss: 520
Brigade Enterprises Limited
* On the weekly chart, the stock has decisively broken out weekly “Consolidation Zone” (300-220) on a closing basis which shows bullish sentiments in near term.
* This breakout is accompanied with huge volumes indicating increased participation
* On the daily chart, 50-day and 200-day SMA golden crossover represents rising strength at current levels.
* On the weekly chart, the stock continue to scale upward forming higher Tops and Bottoms.
* The daily strength indicator RSI is quoting around 50 mark and in bullish mode which supports rising strength
* The above analysis indicate an upside of 340-355 levels
Buy Brigade Enterprises Limited Buying Range: 315-309 CMP: 317 Upside: 9% – 14% Stop loss: 298
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