Weekly Tech Picks - KPIT Technologies Ltd, Polycab India Ltd, Gufic Biosciences Ltd, Titan Company Ltd By Axis Securities
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KPIT Technologies Ltd
On the daily chart, the stock has witnessed couple of weeks “Consolidation Range” breakout at 318 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 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 353-362 levels
*Holding period is 3 to 4 weeks.
Buy KPIT Technologies Limited Buy Range: 330-324 CMP: 335 Upside: 8%-11% Stop loss: 313
Polycab India Limited
On the daily chart, the stock has witnessed two weeks “Consolidation Range” breakout around 1880 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 continue to form a series of higher Tops and higher Bottom formation on weekly and monthly chart
The stock has recaptured its 20 Day SMA(1856) 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 2013-2055 levels.
*Holding period is 3 to 4 weeks
Buy Polycab India Limited Buy Range: 1890-1852 CMP: 1,908 Stop loss: 1800 Upside: 8% -10%
Gufic Biosciences Limited
On the weekly chart, the stock has witnessed “Multiple Resistance” breakout at 205 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 235-248 levels
*Holding period is 3 to 4 weeks.
Buy Gufic Biosciences Limited Buy Range: 213-208 CMP: 218 Stop loss: 195 Upside: 12% – 18%
Titan Company Limited
On the daily chart, the stock has witnessed bounce back from its earlier breakout zone of 1780 levels with rising volumes.
On the weekly and monthly chart, the stock continue to form a series of higher Tops and higher Bottoms which signals strong up trend
This buying was observed from its 20 day SMA (1756) support zone which remains a crucial level to watch for
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 1900-1965 levels
*Holding period is 3 to 4 weeks
Buy Titan Company Limited Buy Range: 1834-1798 CMP: 1,837 Stop loss: 1772 Upside: 5% – 8%
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