BUY KEI | TARGET: Rs 535 | STOP LOSS: Rs 491

The inventory has supplied a breakout from a “symmetrical triangle” formation on the every day chart. The volumes had been greater than common which additionally helps the breakout. The conservative goal of the sample is coming round 535 ranges. It additionally surpassed the higher band of the Bollinger band which hints at a contemporary breakout on the chart. It’s buying and selling nicely above its short-term and long-term transferring averages. Based mostly on the above rationale, we are able to count on additional upside momentum within the counter.

BUY TITAN | TARGET: Rs 1,570 | STOP LOSS: Rs 1,451

The inventory has fashioned a “bullish candle” after falling for the 4th consecutive session. This sample resembles a bullish engulfing candlestick sample which is taken into account as a bullish reversal sample. The inventory additionally has sturdy help at 1,451 which was its earlier swing low and appears like a chance of a “double backside” formation. Additionally it is buying and selling nicely above its short-term and long-term transferring averages. The momentum indicator RSI has reversed from the oversold territory on the every day chart which hints of a robust pullback on the upper aspect.

SELL BAJFINANCE | TARGET: Rs 4,500 | STOP LOSS: Rs 4,840

The inventory earlier fashioned a “double high” formation and, since then, has been witnessing a steady fall. It additionally breached the decrease band of the Bollinger band which hints at a contemporary breakdown within the counter. Furthermore, it broke the 50-DMA, which was appearing as a help, and can now act as quick resistance. The momentum oscillator MACD has supplied a promote crossover on the every day chart which hints of some weak point within the counter.

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Disclaimer: Nilesh Jain is Technical and Derivatives Analysis – Fairness Analysis at Anand Rathi Shares and Inventory Brokers. He could have positions in a single or all the above talked about shares. Views are private.

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