01-01-1970 12:00 AM | Source: Axis Securities Ltd
Weekly Tech Picks: Navin Fluorine International Ltd, Mahindra Holidays & Resorts India Ltd &CSB Bank Ltd By Axis Securities
News By Tags | #872 #2994 #5464 #5481

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Navin Fluorine International Ltd.

• NAVINFLUOR on the weekly chart has decisively broken out above the “Cup & handle” pattern with strong bullish candle indicating a positive bias. Neckline of the same was placed at 4400.

• The breakout is accompanied with an increase in volume confirming 13 April, 2023participation at breakout level

• Stock holding above the medium term upwards sloping trendline which is in place from Oct, 2021.

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

• The above analysis indicates an upside of 4785-4930 levels. *Holding period is 3 to 4 weeks

 

Buy Navin Fluorine International Ltd CMP: 4515 Buy Range: 4520-4430 Stop loss: 4320 Upside: 7% – 10%

Mahindra Holidays & Resorts India Ltd.

• MHRIL on the weekly chart has decisively broken out above the “Symmetrical triangular” pattern between at 287.

• The breakout is accompanied with an increase in volume confirming participation at breakout level • Stock is well placed above 20, 50, 100 13 April, 2023

• Stock is well placed above 20, 50, 100 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 315-335 levels. *Holding period is 3 to 4 weeks.

Buy Mahindra Holidays & Resorts India Ltd. CMP: 290 Buy Range: 290-284 Stop loss: 273 Upside: 10% –17%

CSB Bank Ltd.

• CSBBANK on the weekly chart has decisively broken out above the medium term “Downward Sloping Trendline” at 260 with strong bullish candle indicating positive bias.

• Stock is trading in a rising channel from Jun, 2022. Recently it took a support at lower band of the channel and is heading towards upper band. 13 April, 2023heading towards upper band.

• Stock is well placed above 20, 50, 100 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 297-313 levels. *Holding period is 3 to 4 weeks.

JB Chemicals & Pharmaceuticals Ltd.

• JBCHEPHARM on the weekly chart has decisively broken out above the medium term “Falling Channel” at 2040 with strong bullish candle indicating a positive bias.

• The breakout is accompanied with an increase in volume confirming participation at breakout level 13 April, 2023• Stock holds above 38% Fibonacci Retracement of a rally from 1342-2150 placed at 1843 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 2427-2485 levels. *Holding period is 3 to 4 weeks.

Buy JB Chemicals & Pharmaceuticals Ltd. CMP: 2175 Buy Range: 2150-2108 Stop loss: 1980 Upside: 14% – 17%

 

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