We now have noticed that every time any inventory crosses its excessive made close to to its itemizing, the shopping for momentum will increase. Zomato has made a robust base round Rs 120 following recent shopping for after the anchor traders lock-in interval acquired over. Momentum indicator RSI can also be positively poised whereas ADX can also be supporting energy on this counter. Many FII broking corporations are initiating protection on this counter with a purchase ranking, which can also be propelling a bullish momentum.

(Analyst: Santosh Meena, Head of Analysis, Swastika Investmart)

Reuters

The counter is in a robust bullish momentum the place it’s breaking out of the bullish flag formation on the each day charts. It took assist at its 50-DMA and managed to take out its 20-DMA that will result in additional energy. Momentum indicator RSI took assist on the 40 mark and is witnessing constructive crossover. The market is at an all-time excessive and it’s all the time a sentimental constructive for broking shares. Angel Broking is remodeling itself right into a fintech firm which is main rerating for this counter.

(Analyst: Santosh Meena, Head of Analysis, Swastika Investmart)

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The counter is in a robust bullish momentum and has witnessed the breakout of a bullish flag formation with heavy volumes that will result in continuation of a bullish momentum. It bounced again from its sturdy assist degree of Rs 740 and managed to shut above its all-important transferring averages. ADX is positioned above the 25 mark and is supporting the present energy of this counter whereas RSI can also be positively poised. It has a tailwind of energy in each the cement and textile area.

(Analyst: Santosh Meena, Head of Analysis, Swastika Investmart)

iStock

After an enormous worth drop from its multi-year highs of Rs 190, BEL moved round a cluster of key short-term transferring averages in addition to the earlier breakout factors. After forming a robust base round Rs 160, the inventory resumed its increased diploma uptrend. Within the final three weeks, we witnessed a V-shaped restoration within the inventory which finally prolonged on Friday. In consequence, we are able to see this inventory registering a recent excessive and is knocking the door of Rs 200. We advocate shopping for for a short-term goal of Rs 214. A cease loss will be positioned at Rs 189.80.

(Analyst: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking)

ANI

The inventory had an enormous bump up on Friday and within the course of we are able to see it marking its multi-year highs. The each day chart depicts a breakout with gargantuan quantity participation. Trying on the upward sloping nature of momentum oscillators, we count on the continuing development to proceed. Because it has already moved up quite a bit, we advocate shopping for on a decline round Rs 6,200-6,150 for a goal of Rs 6,700. A cease loss will be stored at Rs 5,850.

(Analyst: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking)

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Taking a look on the latest efficiency, we are able to see the inventory taking off within the latter half of August after present process a small patch of consolidation. The upper diploma development undoubtedly stays strongly bullish however the way in which the inventory has behaved within the final three buying and selling periods, it’s indicating some exhaustion. The each day chart depicts three again to again ‘Doji’ candles and the primary one particularly will be termed as a ‘Headstone Doji’. This sample has a unfavorable implication if we see costs closing under the low of the candle i.e. Rs 7,483. We’re pre-empting this to occur and therefore advocate promoting with a strict cease loss at Rs 7,600. The quick goal will be seen within the vary of Rs 7,340-7,300.

(Analyst: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking)

PTI

RVNL is in a wholesome intermediate uptrend because it has been persistently making increased tops and better bottoms for the final a number of months. After consolidating in a good vary for the final eight buying and selling periods, the inventory broke out of this vary on Friday on the again of upper than common volumes. With the intermediate technical setup wanting constructive and momentum readings just like the 14-week RSI bouncing again from oversold ranges, this augurs effectively for the uptrend to proceed. We due to this fact advocate a purchase between Rs 29.5-30.5. Cease loss needs to be at Rs 28 whereas the goal is at Rs 34.

(Analyst: Subash Gangadharan, Senior Technical and By-product Analyst, HDFC Securities)

Companies

After correcting from a excessive of Rs 152 touched in early July 2021, Chennai Petroleum discovered assist round Rs 97 degree final week. This week, the inventory bounced again and within the course of took out its latest swing excessive of Rs 109.2 on the again of above common volumes. Technical indicators are giving constructive indicators because the inventory is buying and selling above its 20-day SMA. Momentum readings just like the 14-day RSI, too, are in a rising mode and never overbought, which suggests potential for additional upsides. Purchase between Rs 110-113. Cease loss needs to be at Rs 104 for goal of Rs 131.

(Analyst: Subash Gangadharan, Senior Technical and By-product Analyst, HDFC Securities)

Companies

The inventory is persistently forming a better excessive and better low collection formation which is broadly constructive for Godrej Client Merchandise . Throughout this week alone, the inventory rallied over 6 per cent and it additionally fashioned a robust bullish candle on weekly charts. For trend-following merchants, Rs 1,090 can be the important thing assist degree. Above the identical, the uptrend formation is prone to proceed as much as Rs 1,200.

(Analyst: Shrikant Chouhan, EVP- Fairness Technical Analysis at Kotak Securities)

Companies

Publish a short-term worth correction, the inventory was consolidating within the vary of Rs 3,650-3,750. Publish correction, it has been persistently taking assist close to Rs 3,650 on each day intraday charts. The inventory additionally fashioned a better backside formation which is grossly constructive for the inventory. Presently, the inventory is buying and selling close to its 200-day SMA and the feel of the chart signifies a robust pullback rally from present ranges. Positional merchants can take a protracted wager with Rs 3,650 as a assist cease loss.

(Analyst: Shrikant Chouhan, EVP- Fairness Technical Analysis at Kotak Securities)

Reuters

After a very long time, the inventory cleared the resistance of Rs 717 and succeeded to commerce above the identical. On each day charts, the inventory has fashioned a robust increased excessive and better low collection formation and on weekly charts it has fashioned a spread breakout formation which signifies a medium-term uptrend. Except it’s buying and selling under Rs 699, positional merchants can retain an optimistic stance and search for a goal of Rs 775. Contemporary shopping for will be thought of now and on dips, if any, between Rs 725 and Rs 710 ranges with a cease loss under Rs 699.

(Analyst: Shrikant Chouhan, EVP- Fairness Technical Analysis at Kotak Securities)

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