Weekly Tech Picks - Godrej Consumer Products Limited, Linde India Limited, Varun Beverages Limited, By Axis Securities
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Godrej Consumer Products Limited
On the daily chart, the stock has witnessed “ Rounding Formation” breakout at 1022 levels.
The stock is well placed above its 20 and 50-day SMA’s which reconfirm bullish sentiments
Rising volumes at breakout zone signals increased participation on 20 August, 2021
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 daily and weekly strength indicator RSI is in bullish mode which supports rising strength as well as momentum.
Holding period is 3 to 4 weeks.
Buy Godrej Consumer Products Limited Buy Range: 1034-1020 CMP: 1034 Upside: 6%-10% Stop loss: 975
Linde India Limited
On the daily chart, the stock has witnessed “Rounding Formation” breakout around 1850 levels which signals strong comeback of bulls
Huge volumes on the breakout , signals increased participation near breakout zone
The stock is strong uptrend as it is Linde India Limited Weekly Tech Picks 20 August, 2021 continue to form a series of higher Tops and higher Bottom formation on weekly and monthly chart
The stock is well placed above 20 and 50 day SMA which reconfirm bullish trend
The daily strength indicator RSI is placed above 50 mark which supports rising strength. The above analysis indicate an upside of 2050-2100 levels.
Holding period is 3 to 4 weeks.
Buy Linde India Limited Buy Range: 1944-1906 CMP: 1,944 Upside: 6% -9% Stop loss: 1818
Varun Beverages Limited
On the daily chart, the stock has witnessed “Triangular Pattern” breakout at 805 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 well placed above its 20 week 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 850-885 levels
Holding period is 3 to 4 weeks.
Buy Varun Beverages Limited Buy Range: : 807-791 CMP: 807 Upside: 6% – 11% Stop loss: 750
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