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Eicher Motors Restricted, Sunteck Realty Restricted, Shriram Transport Finance Firm and PVR Restricted are the highest technical inventory picks on a weekly foundation from Axis Securities. Eicher Motors Restricted has a purchase at vary ₹2850 – 2794, Sunteck Realty Restricted has a purchase at vary ₹480 – 472, Shriram Transport Finance Firm Restricted has a purchase at vary 1235 – 1211 and PVR Restricted has a purchase at vary 1840 – 1804, Axis Securities stated in a report. The brokerage suggests a holding interval or 3 to 4 weeks for these 4 shares.
Indian inventory markets rebounded final week with Sensex and Nifty each rising over 2.5% on a weekly foundation after two straight weeks of losses. Analysts say that international traits, crude oil motion and FII behaviour will probably be key this to observe this week amid month-to-month derivatives expiry. For this week, For the week, Axis count on Nifty to commerce within the vary of 16200-15400 with combined bias. If Nifty crosses and sustains above 15800 degree it will witness shopping for which might lead the index in direction of 15900-16200 ranges, the brokerage stated.
Nevertheless if the index breaks beneath 15600 degree it will witness promoting which might take the index in direction of 15400-15200, Axis Securities added.
Listed here are 4 inventory picks from Axis Securities
PVR Restricted
CMP: 1845; Purchase Vary: 1840-1804; Cease loss: 1735; potential upside: 6% –9%
“On the weekly chart, PVR Limited has confirmed greater tops and bottoms formation indicating bullish pattern. Along with this , it has additionally damaged out three months “down-sloping” pattern line breakout at 1800 ranges. This breakout is accompanied with rising volumes indicating elevated participation. The inventory is sustaining above its 20, 50, 100 and 200 day SMA which reconfirm bullish sentiments,” Axis Securities stated in a be aware.
Shriram Transport Finance Firm Restricted
CMP: 1245; Purchase Vary: 1235-1211; Cease loss: 1159; potential upside: 8% – 13%
“On the each day chart, Shriram Transport Finance Company Restricted has confirmed “symmetrical triangle” breakout round 1230 ranges on a closing foundation. The inventory has recaptured its 20, 50, 100 and 200 day SMA’s and sustaining above the identical which reconfirm bullish sentiments. Rising volumes at breakout zone signifies elevated participation. The each day “band Bollinger” purchase sign reveals elevated momentum. The each day and weekly energy indicator RSI proceed to stay bullish which alerts sustained and rising energy,” Axis Securities stated.
Sunteck Realty Restricted
CMP: 483; Purchase Vary: 480-472; Cease loss: 454; Potential Upside: 7% – 11%
“On the each day chart, Sunteck Realty Limited has noticed 5 months “down-sloping pattern line” breakout at 475 ranges indicating pattern reversal. This shopping for momentum was accompanied with large volumes indicating elevated participation at breakout degree. The inventory can also be properly positioned above 20, 50, 100 and 200 day SMA which reconfirm bullish pattern,” the brokerage stated.
Eicher Motors Restricted
CMP – 2870, Purchase Vary – 2850-2794, Cease loss – 2700; Upside potential – 6-12%
“On the weekly chart, the Eicher Motors Limited has witnessed “down sloping channel” breakout round 2800 ranges and sustaining above the identical. This breakout is accompanied with large volumes indicating elevated participation. The inventory is properly positioned above its 20, 50 , 100 and 200 SMA which reconfirmed bullish pattern,” Axis Securities stated.
Disclaimer: The views and proposals made above are these of particular person analysts or broking firms, and never of Mint.
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