Weekly Tech Picks - J.Kumar Infraprojects Limited, Seshasayee Paper and Boards Limited, Praj Industries Limited, Shipping Corporation Of India Limited By Axis Securities
J.Kumar Infraprojects Limited
• On the weekly chart, the stock has decisively broken out its past 6-7 months “Consolidation Range” (190- 150) 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 J.Kumar Infraprojects Limited Weekly Tech Picks 13 April,2022
• 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 210-220 levels.
• Holding period is 3 to 4 weeks.
Buy J.Kumar Infraprojects Limited Buy Range: 194-190 CMP: 199 Upside: 9% - 15% Stop loss: 183
Seshasayee Paper and Boards Limited
• On the daily chart, the stock has confirmed 8-9 months “multiple resistance” zone of 192 levels on a closing basis indicating strong come back of bulls
• This buying momentum was observed from its 200 day SMA (172) and rebounded very sharply 13 April,2022• Rising volumes on a rally implies increased participation at breakout zone
• 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 218-228 levels.
• Holding period is 3 to 4 weeks.
Buy Seshasayee Paper and Boards Limited Buy Range: : 200-195 CMP: 204 Upside: 10% – 15% Stop loss: 184
Praj Industries Limited
• On the daily chart, the stock is on the verge of “rounding bottom” pattern breakout around 440 levels hence any strong close above the same may lead major upside
• The stock is well placed above its 20, 50, 100 and 200 day SMA which reconfirm bullish trend 13 April,2022
• Rising volumes near breakout zone implies increased participation
• The daily and weekly strength indicator RSI signals positive crossover indicate rising strength
• The above analysis indicate upside of 465-485 levels.
• Holding period is 3 to 4 weeks.
Buy Praj Industries Limited Buy Range: : 429-421 CMP 429 Upside: : 9% – 14% Stop loss: 396
Shipping Corporation Of India Limited
• On the daily chart, the has confirmed “multiple resistance” (132) breakout on a closing basis
• This breakout is accompanied with huge volumes which signals increased participation
• The stock has recaptured its 20, 50, ,100 and 200 day SMA and rebounded 13 April,2022very sharply
• 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 147-153 levels.
• Holding period is 3 to 4 weeks.
Buy Shipping Corporation Of India Limited Buy Range: : 133-129 CMP 134 Upside: : 12% – 17% Stop loss: 122
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