“18500 – 18520 is the immediate hurdle while 18190 – 18220 shall act as a crucial support zone, and until this support zone is held, we can expect the dips to be bought into and the positive momentum to continue,” Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, said.
ETMarkets.com
2/7
Buy Prestige at Rs 508.85
Stop Loss: RS 489
The Prestige has given a breakout of a triangle pattern on the daily charts with a bullish candlestick. Importantly the price movement is backed by good volumes. The overall structure of the counter is very bullish, as it is trading above all of its important moving averages. In addition, the technical indicator Ichimoku Cloud suggests that the price is trading above the conversion & Baseline, which shows a Bullish trend in the counter.
(Ashish Katwa, Research Analyst, Bonanza Portfolio)
ETMarkets.com
3/7
Buy GAIL at Rs 111.75
Stop Loss: RS 108.45
On the daily charts, GAIL has given a breakout of the Symmetrical Triangle with a bullish candlestick. The overall structure of the counter is very bullish, as it is trading above the 20/50/100 moving averages. In addition, the technical indicator Ichimoku Cloud suggests that the price is trading above the cloud, which shows a positive trend in the counter.
(Ashish Katwa, Research Analyst, Bonanza Portfolio)
ETMarkets.com
4/7
Buy Aptus near Rs 265
Stop Loss: RS 258
On a daily scale, we are witnessing a range breakout that resembles a bullish Cup and Handle formation.
(Mehul Kothari, AVP-Technical Research, Anand Rathi)
ETMarkets.com
5/7
Buy Voltamp Transformers near Rs 3,230
Stop Loss: RS 3,100
Recently, the stock confirmed a breakout from the previous swing high of Rs 3,155. Along with the breakout, the weekly RSI has surpassed the 60 levels, and that indicates strength.
(Mehul Kothari, AVP-Technical Research, Anand Rathi)
ETMarkets.com
6/7
Buy Tech Mahindra at Rs 1065
Stop Loss: RS 1044
In the latest daily trading session, TECHM displayed strength as the stock held and closed above the previous 10 days’ high, accompanied by increasing volume. This indicates positive momentum and resilience in the stock. Additionally, there was a bullish crossover on the MACD chart, further supporting the positive outlook.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETtech
7/7
Buy KPIT Tech at Rs 925
Stop Loss: RS 900
The stock recently experienced a consolidation breakout on the daily chart, indicating a potential upward movement. It found support at the 21-day Exponential Moving Average (EMA), further strengthening the bullish sentiment. The Relative Strength Index (RSI) is showing a bullish crossover, suggesting an increase in buying momentum.
(Rupak De, Senior Technical Analyst, LKP Securities)
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
ETMarkets.com
