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Cummins India Ltd

• CUMMINSIND on the weekly chart has decisively broken out above the “Consolidation zone ” between 1550- 1350 with strong bullish candle in a last week.

• Stock holds above lower band of rising channel and bounce back indicating a positive bias. 

• It is heading towards upper band of rising channel.

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

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

• The above analysis indicates an upside of 1700 -1755 levels.

• Holding period is 3 to 4 weeks.

Buy Cummins India Ltd  CMP: 1622 Buy Range: 1590-1560 Stop loss: 1513 Upside: 8% –11%

Hindustan Aeronautics Ltd

• HAL on the weekly chart has decisively broken out above the “Falling Channel” placed at 2550.

• 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 and 200 daily SMA indicating positive momentum.

• 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 2795 - 2880 levels.

• Holding period is 3 to 4 weeks.

Buy Hindustan Aeronautics Ltd CMP: 2632 Buy Range: 2600-2548 Stop loss: 2465 Upside: 9% –12%

Oil India Ltd

• OIL on the weekly chart has decisively broken out above the “Cup and Handle pattern ” formation indicating positive bias.

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

• 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 290-300 levels.

• Holding period is 3 to 4 weeks.

Buy Oil India Ltd CMP: 260 Buy Range: 254-250 Stop loss: 233 Upside: 15% –19%

Suprajit Engineering Ltd

• SUPRAJIT on the weekly chart has decisively broken out above the “Symmetrical Triangle” pattern above 347 level.

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

• Stock on a daily chart had closed above upper Bollinger band indicating positive bias in a stock.

• 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 391 405 levels.

• Holding period is 3 to 4 weeks.

Buy Suprajit Engineering Ltd CMP: 360 Buy Range: 356-350 Stop loss: 334 Upside: 11%–15%

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