Weekly Technical Outlook and Picks : Datamatics Global Services Ltd, Hindustan Unilever Ltd, and Asahi India Glass Ltd by Axis Securities
Datamatics Global Services Ltd
• DATAMATICS has broken out above a Descending Triangle pattern at 687 with a strong bullish candle, marking the end of a consolidation phase that began in Dec’23.
• The volume contraction during the pattern formation, followed by a sharp surge at breakout, confirms fresh market participation and validates the breakout.
• The stock has also rebounded sharply from the 50% Fibonacci retracement level of the prior rally (234 to 792), establishing 513 as a crucial mediumterm support.
• Adding to the strength, the weekly RSI has not only stayed above its signal line but also broken out of a downward sloping trendline, signalling renewed positive momentum and strengthening the case for further upside.
• Analysis indicates an upside toward 785- 813 levels.
* The holding period is 3 to 4 weeks
Hindustan Unilever Ltd.
HINDUNILVR has rebounded sharply from a strong horizontal support near 2,125, a level that has held firm since Jun’22.
• The stock has also broken out above an Inverted Head and Shoulders pattern at 2,464, accompanied by a strong bullish candle and a surge in volume, confirming a bullish reversal.
• A weekly close above the upper Bollinger Band has further triggered a fresh technical buy signal, reinforcing the strengthening upward momentum.
• Momentum indicators are aligned with the breakout, as the weekly RSI remains above 50 and its signal line is trending upward, underscoring growing bullish strength.
• The above analysis indicates an upside toward 2,685-2,750 levels.
* The holding period is 3 to 4 weeks.
Asahi India Glass Ltd.
• ASAHIINDIA surpassed a multiple resistance zone around 810 with a strong bullish candle in early Jul’25, signalling a continuation of the medium-term uptrend.
• This week, the stock retested the breakout zone and rebounded sharply, reinforcing the breakout and setting the stage for a continued post-breakout rally.
• The stock is now trading above all key moving averages — 20, 50, 100, and 200- day SMAs—underscoring strong underlying bullish momentum.
• Supporting this strength, the weekly RSI remains above its signal line, reflecting a firm bullish bias and validating the ongoing upward trend.
• Analysis indicates an upside toward 955-1,000 levels.
* The holding period is 3 to 4 weeks.
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