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Cholamandalam Financial Holdings Ltd.

• CHOLAHLDNG on the weekly chart has decisively broken out above the “Falling Channel” pattern at 650 level with strong bullish candle indicating positive bias.

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

• Stock holds above 50% Fibonacci Retracement of a rally from 225-762 placed at 491 forming a medium term support zone.

• The weekly strength indicator RSI is holding above its reference line indicates positive momentum

• The above analysis indicates an upside of 768-785 levels.

• Holding period is 3 to 4 weeks.

Buy Cholamandalam Financial Holdings Ltd CMP: 711 Buy Range: 685-673 Stop loss: 635 Upside: 13% – 16%

NOCIL Ltd

• NOCIL on the weekly chart has decisively broken out above the “Falling Channel” pattern at 215 level with strong bullish candle indicating reversal of trend

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

• Stock took a support at previous swing low placed around 200 level and bounce back forming a medium term support zone..

• The weekly strength indicator RSI is holding above its reference line indicates positive momentum

• The above analysis indicates an upside of 260-268 levels.

• Holding period is 3 to 4 weeks.

Buy NOCIL Ltd CMP: 232 Buy Range: 230-226 Stop loss: 212 Upside: 14% –18%???????

Astral Ltd.

• ASTRAL on the weekly chart has decisively broken out above the medium term “Falling Channel” at 1450 with bullish gap indicating an uptrend

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

• Stock is well placed above 20, 50, 100 and 200 daily SMA indicating positive momentum. 

• The weekly strength indicator RSI is holding above its reference line indicates positive momentum.

• The above analysis indicates an upside of 1600-1650 levels.

• Holding period is 3 to 4 weeks.

Buy Astral Ltd. CMP: 1504 Buy Range: 1500-1472 Stop loss: 1430 Upside: 8% –11%

TVS Motor Company Ltd.

• TVSMOTOR on the weekly chart has decisively broken out above the medium term “Consolidation Zone” between 1180-960 with strong bullish candle indicating a range bound breakout..

• Stock holds above 38% Fibonacci Retracement of a rally from 513-1177 5 May, 2023placed at 929 forming a medium term support zone.

• The weekly “Bollinger band” generated buy signal as stock closed above the upper Bollinger Band.

• 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 1310-1355 levels.

• Holding period is 3 to 4 weeks.

Buy TVS Motor Company CMP: 1215 Buy Range: 1205-1181 Stop loss: 1135 Upside: 10% – 14%

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