Weekly Tech Picks: Navin Fluorine International Ltd, Mahindra Holidays & Resorts India Ltd &CSB Bank Ltd By Axis Securities
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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