IGI Logo

Bharat Electronics

• On the weekly chart, the stock has decisively broken out its past eight months “Consolidation Range” (230- 195) on a closing basis indicating strong come back of bulls

• This buying momentum was observed from 20, 50 and 100 day SMA and rebounded sharply Bharat Electronics Limited Weekly Tech Picks 08 April,2022

• With current week’s high (242) the stock has registered a new 52-week high which remains a bullish signal

• The daily and weekly “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 252-267 levels.*Holding period is 3 to 4 weeks.

Buy Bharat Electronics Buy Range: : 235-230 CMP 239 Upside: : 8% - 15% Stop loss: 223

SBI Life Insurance

• On the daily chart, the stock has confirmed “inverse head & shoulder” reversal formation on a closing basis indicating strong come back of bulls

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

• Rising volumes on a rally implies 08 April,2022increased participation at breakout zone

• 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 1230-1255 levels. *Holding period is 3 to 4 weeks.

Buy SBI Life Insurance  Buy Range: : 1157-1135 CMP 1157 Upside: : 7% – 10% Stop loss: 1099

Steel Authority of India Limited

• On the daily chart, the stock has witnessed a strong breakout from its “rounding bottom” pattern on a closing basis indicating short term trend reversal

• The stock has recaptured its 20 and 50 day SMA and rebounded very sharply

• Rising volumes near support zone 08 April,2022implies increased accumulation at lower levels

• 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 118-124 levels.

• *Holding period is 3 to 4 weeks.

Buy Steel Authority of India Limited  Buy Range: : 109-106 CMP 111 Upside: : 10% – 15% Stop loss: 102

Syngene International Limited

• On the daily chart, the has confirmed “consolidation range” (640-530) formation breakout at 640 levels on a closing basis

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

• The stock has recaptured its 20, 50, 08 April,2022,100 and 200 day SMA and rebounded very sharply

• The daily and weekly “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 695-720 levels.

• *Holding period is 3 to 4 weeks.

Buy Syngene International Limited Buy Range: : 648-636 CMP 648 Upside: : 8% – 12% Stop loss: 601

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