10-03-2022 11:14 AM | Source: Axis Securities Ltd
Weekly Tech Picks - Bharti Airtel Ltd, Aditya Birla Fashion and Retail Ltd, Garden Reach Shipbuilders & Engineers Ltd,Gujarat Fluorochemicals Ltd By Axis Securities
News By Tags | #3642 #5481 #51 #4870 #2588 #3050

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Bharti Airtel Ltd.

• On the weekly time frame the stock has decisively broken out above “rectangular ” pattern. Stock was consolidated in a broader range between 780-640. It broke above the range indicating stock will be trending with positive bias.

• The stock is well placed above 20, 50, 100 and 200 day SMA’s which Bharti Airtel Ltd. Weekly Tech Picks 30 September’2022100 and 200 day SMA’s which reconfirms bullish trend

• On the daily time frame, the stock is in strong up trend forming a series of higher tops and bottoms

• The weekly strength indicator RSI is in bullish mode and sustaining above 50 mark indicating sustained strength • The above analysis indicates an upside of 860-880 levels. *Holding period is 3 to 4 weeks.

Buy Bharti Airtel Ltd CMP: 799.60 Buy Range: 792-776 Stop loss: 750 Upside: 10% - 12%

 

Aditya Birla Fashion and Retail Ltd.

• On the weekly chart, the stock has broken above the horizontal trendline place at 320. Break out above previous swing high confirm positive momentum to continue.

• The stock is well placed above its 20, 50 and 100 day SMA’s and sustaining above the same which reconfirm bullish sentiments. 30 September’2022• The weekly “Bollinger band” buy signals indicate increased momentum

• The daily and weekly strength indicator RSI is above its reference line indicating positive bias.

• The above analysis indicate upside of 378 -385 levels. *Holding period is 3 to 4 weeks.

Buy Aditya Birla Fashion and Retail Ltd CMP: 349 Buy Range: 345-338 Stop loss: 315 Upside: 11% - 13%

 

Garden Reach Shipbuilders & Engineers Ltd.

• On the weekly time frame the stock has decisively broken out above “rounded bottom” pattern

• This breakout is accompanied with rising volume.

• The stock is trading above 20, 50, 100 and 200 SMA indicating positive trend and bullish sentiment on a stock. 30 September’2022

• The daily and weekly strength indicator RSI is in bullish mode and pointing north.

• The above analysis indicates upside of 380- 390 levels. *Holding period is 3 to 4 weeks.

Buy Garden Reach Shipbuilders & Engineers Ltd CMP: 352 Buy Range: 350-343 Stop loss: 320 Upside: 10% - 13%

 

Gujarat Fluorochemicals Ltd.

• On the weekly time frame, the stock has observed “symmetrical triangular ” breakout around 3000 levels along with huge volumes.

• This break out is followed by a throwback till upper band of pattern. It retested the upper band and start bouncing back.

• The stock is well placed above its 30 September’2022

• The stock is well placed above its 20,50,100 and 200 Day SMA’s which reconfirm bullish sentiments

• The weekly strength indicator RSI is in positive terrain and sustaining above 9EMA mark indicating positive momentum.

• The above analysis indicates upside of 4250 -4400 levels. *Holding period is 3 to 4 weeks.

Buy Gujarat Fluorochemicals Ltd CMP: 3949 Buy Range: 3900-3822 Stop loss: 3680 Upside: 10% - 14%

 

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