Weekly Tech Picks - Brigade Enterprises Ltd, Oil & Natural Gas Corporation Ltd , Eicher Motors Ltd , InterGlobe Ltd ,Century Textiles & Industries Ltd By Axis Securities
Brigade Enterprises Limited
• On the daily chart, the stock has rebounded from its earlier breakout zone of 300 levels indicating resumption of the uptrend
• The stock is well placed above its 20 and 50-day SMA’s which reconfirm bullish sentiments
• Rising volumes near support zone 03 September, 2021 *Holding period is 3 to 4 weeks. signals increased participation on correction
• The stock is in strong up trend across all the time frames forming a series of higher tops and bottoms
• 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 400-413 levels
*Holding period is 3 to 4 weeks.
CMP: 367 Buy Range: 360-354 Stop loss: 335 Upside: 12%-16%
Oil & Natural Gas Corporation Limited
• On the weekly chart, the stock has witnessed “Channel” formation breakout around 118 levels indicating trend reversal
• On the weekly chart, six weeks multiple resistance breakout was observed 118 levels indicating strong come of bulls
• Rising volumes on a rally signals Oil & Natural Gas Corporation Limited Weekly Tech Picks 03 September, 2021 increased participation
• The stock has recaptured its 20, 50 and 100 day SMA which supports upside momentum and reconfirms bullish sentiments
• The daily and weekly strength indicator RSI is placed above 50 mark which supports rising strength. The above analysis indicate an upside of 131-137 levels. *Holding period is 3 to 4 weeks.
CMP: 123 Buy Range: 123-119 Stop loss: 116 Upside: 8% -13%
Eicher Motors Limited
• On the daily chart, the stock has witnessed “Multiple Resistance Zone ” breakout at 2770 levels on a closing basis along with rising volumes.
• On the daily chart, the stock has witnessed shift of trend to the upside indicating further strength
• The stock is well placed above its 20 Eicher Motors Limited Weekly Tech Picks 03 September, 2021 and 50 day SMA which reconfirms upside momentum
• 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 2900-3000 levels *Holding period is 3 to 4 weeks.
CMP: 2793 Buy Range: 2770-2710 Stop loss: 2660 Upside: 6% – 9%
InterGlobe Aviation Limited
• On the weekly chart, the stock has witnessed “Consolidation Range” breakout at 1880 levels on a closing basis along with rising volumes.
• On the daily and weekly chart, the stock continue to form a series of higher Tops and higher Bottoms which signals strong up trend 03 September, 2021
• The stock is well placed above its 20,50 and 100 day SMA which reconfirms upside momentum
• The weekly Bollinger Band buy signal also reconfirmed rising momentum
• 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 2060-2110 levels
CMP: 1963 Buy Range: 1920-1880 Stop loss: 1820 Upside: 8% – 11%
Century Textiles & Industries Limited
• On the daily chart, the stock has witnessed “Consolidation Range” breakout at 835 levels on a closing basis along with rising volumes.
• On the daily and weekly chart, the stock continue to form a series of higher Tops and higher Bottoms which signals strong up trend 03 September, 2021
• This buying was observed from its 20 day SMA (775) support zone which remains a crucial level to watch for
• The daily Bollinger Band buy signal also reconfirmed rising momentum
• 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 940-965 levels
CMP: 847 Buy Range: 847-831 Stop loss: 785 Upside: 12% – 15%
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