Weekly Stocks Recommendation by Asit C. Mehta Investment Interrmediates Ltd
Thyrocare Technologies Limited (Thyrocare)-
On the weekly chart, the stock has witnessed a rounding-bottom pattern breakout and has retested the breakout point today. On the daily chart, the stock is forming a higher-top, higher-bottom structure, indicating strength. Trend line support is currently placed near 478. As long as, the stock holds above 478 and the ongoing bullish momentum is likely to persists, and it could test the resistance zone of 518–536.
Sumitomo Chemical India Limited (SUMICHEM) –
On the daily chart, the stock has confirmed a bullish harami candlestick pattern and has formed bullish candles on the weekly chart with rising volumes, indicating strength. The low of the bullish harami candle is placed near 443. As long as the stock holds above 443 on a closing basis, it could attempt to test the psychological hurdle of 500, and if it sustains above this level, it may move towards 540–550.
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