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Weekly Tech Picks : Indraprastha Gas Limited

Buy Range: 538-528 CMP: 543; Stop loss:: 520

* On the daily chart, the stock has decisively broken out its past five weeks “Consolidation Range” at 532 levels which signals strong come back of bulls

* Stock is also witnessed Bollinger band breakout which signals increased volatility

* This buying was observed from its 100- day SMA which reconfirms bullish sentiments

* Huge volumes spurt on breakout confirm increased participation on rally

* 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 560-575 levels

* Holding period is 3 to 4 weeks.

Buy Indraprastha Gas Ltd @ 538-528 CMP 543 SL 520

Bombay Burmah Trading Corporation Ltd

* The stock has decisively broken out its nine months “Down-Sloping Trend line” around 1225 levels on closing basis indicating strong come back of bulls

* The stock gained momentum along with rising volumes which signals increased participation at breakout zone

* Stock is also witnessed Bollinger band Bombay Burmah Trading Corporation Limited Weekly Tech Picks 09 April 2021 breakout on the daily chart which signals increased volatility

* The weekly strength indicator RSI and the momentum indicator Stochastic both are in bullish mode along with positive crossover has observed a upward breakout supporting rising strength

* The above analysis indicate an upside of 1300-1350.

Buy Bombay Burmah Trading Corporation Ltd @ 1240-1216 CMP 1260 SL 1195

The India Cements Limited

* On the daily chart, the stock has witnessed breakout from its three months “Consolidation Zone” (185- 155) on closing basis which signals resumption of the uptrend

* This buying was observed around 50% Fibonacci Retracement Support zone of 3591 which is positive sign 09 April 2021

* The stock is well placed above its 20, 50 and 100 day SMA which supports bullish sentiments on medium term time frame

* The daily and weekly strength indicator RSI has observed a positive crossover and quoting around 50 mark which supports rising strength

* The above analysis indicate an upside of 206-212 levels *Holding period is 3 to 4 weeks

Buy The India Cements Ltd @ 185-182 CMP 189 SL 172

Bajaj Consumer Care Limited

* On the daily chart, the stock has witnessed “Ascending Triangle” formation breakout which signals continuation of the earlier up move

* Rising volumes on the daily chart, signals increased participation on breakout zone

* In addition, this buying has also Bajaj Consumer Care Limited Weekly Tech Picks 09 April 2021 observed 20-Day (267) support zone which remains a positive sign

* Currently stock is well placed above its 50, 100 and 200-day SMA which reconfirm out bullish thesis

* The daily strength indicator RSI is in bullish mode and placed above 50 mark which supports rising strength.The above analysis indicate an upside of 310-320 levels *Holding period is 3 to 4 weeks.

Buy Bajaj Consumer Care Ltd @ 284-280 CMP 284 SL 268

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