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Bharat Electronics Ltd

• BEL on the weekly chart has decisively broken out above the medium term “Falling Channel” at 96 with strong bullish candle indicating a positive bias.

• The breakout is accompanied with an increase in volume confirming participation at breakout level

• Stock holds above 50% Fibonacci 31 March, 2023• Stock holds above 50% Fibonacci Retracement of a rally from 62-114 placed at 88 forming a medium term support zone.

• The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.

• The above analysis indicates an upside of 108-112 levels.

• Holding period is 3 to 4 weeks.

Buy Bharat Electronics Ltd CMP: 97 Buy Range: 97-95 Stop loss: 90 Upside: 13% –17%

ICICI Bank Ltd.

• ICICIBANK on the weekly chart has decisively broken out above the “Downward Sloping Trendline” with strong bullish candle indicating positive bias which was placed at 864.

• The breakout is accompanied with an increase in volume confirming participation at breakout level 31 March, 2023

• Stock holds above 50% Fibonacci Retracement of a rally from 642-958 placed at 800 forming a medium term support zone.

• The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.

• The above analysis indicates an upside of 924-944 levels.

• Holding period is 3 to 4 weeks.

Buy ICICI Bank Ltd. CMP: 877 Buy Range: 876-860 Stop loss: 840 Upside: 6% –9%

JK Lakshmi Cement Ltd.

• JKLAKSHMI on the weekly chart has decisively broken out above the “Falling Channel” at 740 with strong bullish candle indicating a positive bias.

• Stock holds above 50% Fibonacci Retracement of a rally from 366-897 placed at 634 forming a medium term support zone. 31 March, 2023

• Stock is forming a higher high-low on the weekly chart. This formation indicates a positive uptrend.

• The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.

• The above analysis indicates an upside of 864-890 levels.

• Holding period is 3 to 4 weeks.

Buy JK Lakshmi Cement Ltd. CMP: 782 Buy Range: 775-761 Stop loss: 720 Upside: 13% – 16%

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