Latest news with #ExponentialMovingAverages
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Business Standard
6 days ago
- Business
- Business Standard
Stock calls, July 4: Natco Pharma, Sharda Cropchem among top stocks to buy
Stocks to buy: Analyst pick Sharda Cropchem, Monarch Networth Capital and one more share to buy; Check full details Kunal Kamble Mumbai Stock recommendations Sharda Cropchem Sharda Cropchem has given a breakout above its resistance level and closed higher, indicating buyer dominance. The rise in volume during the breakout confirms strong buying interest at current levels. The stock is trading above all major Exponential Moving Averages (EMAs), suggesting a firm positive trend. The RSI, after a brief consolidation, has turned upward, supporting the ongoing price action. Additionally, DI+ trading above DI- signals a bullish stance, while the ADX above both DI lines reflects strength in the upmove. The stock can be accumulated at current levels, with a stop-loss at ₹830 and an upside target of ₹998. Sharda Cropchem: ₹886.90 Stop loss: ₹830 Monarch Networth Capital Monarch Networth has given a breakout from its recent trading range, accompanied by a rise in volume, indicating buyer dominance over sellers. The stock has managed to close above all major EMAs, which suggests the trend remains positive. The RSI is moving higher, supporting the ongoing price action. Additionally, DI+ trading above DI- indicates a bullish bias, while the ADX trading above DI− signals strength in the current upmove. The stock can be accumulated in the range of ₹355–₹372, with a stop-loss at ₹337, for an upside target of ₹391–₹450. Monarch Networth Capital: ₹371.95 Stop Loss: ₹337 Target Price: ₹391/₹450 Natco Pharma Natco Pharma has taken support near the ₹890 level, which previously acted as a strong base from where the stock had rallied up to ₹1,639. Once again, buyers have stepped in at this level, pushing the price higher to ₹973, with the stock now closing above the 9, 21, and 50 EMAs on the weekly timeframe-a sign of emerging bullish momentum. The rise in volume confirms buying interest at current levels. The RSI has crossed above the 50 mark, indicating improving momentum. Additionally, on the weekly chart, DI+ has crossed above DI−, further supporting the positive outlook. The stock can be accumulated on dips toward ₹912, with a stop-loss at ₹840, for an upside target of ₹1,140–₹1,200. Natco Pharma: ₹973.60 Stop Loss: ₹840 Target Price: ₹1140/₹1200
Hans India
23-06-2025
- Business
- Hans India
Nifty, Bank Nifty hint at possible breakout: Report
Mumbai: A strong bullish candle shaped as an Inside Bar pattern emerged on the charts of both Nifty and Bank Nifty this week, signalling a return of buying interest from lower levels and reflecting the market's underlying strength, a new report said on Sunday. The pattern, often seen as a sign of consolidation followed by potential breakout, suggests that investor sentiment remains optimistic amid supportive technical indicators and favourable market structure, according to Choice Broking. The Nifty index ended the week on a strong note, closing at 25,112.40 with a weekly gain of 1.59 per cent. The index maintained its position above the crucial psychological level of 25,000, pointing to a sideways-to-bullish momentum in the near term. The price action confirms sustained buying on dips, with traders showing confidence in defending key support zones, the report said. Technically, Nifty remains well-positioned above all its major Exponential Moving Averages (EMAs) -- the 20-week, 50-week, and 200-week -- highlighting a strong bullish undertone. The Relative Strength Index (RSI) has also shown upward movement, currently standing at 60.81, which indicates strengthening momentum and potential for further gains, according to the brokerage firm. 'As long as the index holds above the 25,000 level, the bias is expected to remain positive, with upside targets in the range of 25,200 to 25,300,' the firm stated.
Hans India
22-06-2025
- Business
- Hans India
Nifty, Bank Nifty show bullish pattern, hint at possible breakout: Report
A strong bullish candle shaped as an Inside Bar pattern emerged on the charts of both Nifty and Bank Nifty this week, signalling a return of buying interest from lower levels and reflecting the market's underlying strength, a new report said on Sunday. The pattern, often seen as a sign of consolidation followed by potential breakout, suggests that investor sentiment remains optimistic amid supportive technical indicators and favourable market structure, according to Choice Broking. The Nifty index ended the week on a strong note, closing at 25,112.40 with a weekly gain of 1.59 per cent. The index maintained its position above the crucial psychological level of 25,000, pointing to a sideways-to-bullish momentum in the near term. The price action confirms sustained buying on dips, with traders showing confidence in defending key support zones, the report said. Technically, Nifty remains well-positioned above all its major Exponential Moving Averages (EMAs) -- the 20-week, 50-week, and 200-week -- highlighting a strong bullish undertone. The Relative Strength Index (RSI) has also shown upward movement, currently standing at 60.81, which indicates strengthening momentum and potential for further gains, according to the brokerage firm. "As long as the index holds above the 25,000 level, the bias is expected to remain positive, with upside targets in the range of 25,200 to 25,300," the firm stated. "A breakout above 25,300 could open doors for a further rally towards 25,500 and 25,700," it added. Volatility eased during the week, with the India VIX falling by 4.09 per cent to 13.6725, signalling reduced uncertainty and growing investor comfort. "In the derivatives segment, the highest Call Open Interest is observed at the 25,200 and 25,300 strikes, establishing a near-term resistance zone,' the report stated. "On the other hand, the highest Put Open Interest is clustered around 25,000 and 24,800, offering strong downside protection," it added. The Bank Nifty index mirrored a similar trend, gaining 1.31 per cent over the week to close at 56,252.85. The weekly formation of an Inside Bar candlestick pattern, supported by steady trading volumes, reflects ongoing consolidation and positive sentiment. The index managed to stay above the 56,200 mark, suggesting buyers are active on declines, and the structure continues to favour a sideways-to-bullish outlook. The index is trading above its key 20-day, 50-day, and 200-day EMAs, which reinforces the overall uptrend. RSI for Bank Nifty stands at 64.33 and is trending upwards, confirming the strength in underlying momentum. Immediate support is placed at 56,000 and 55,500, while resistance lies in the range of 56,500 to 57,000. A decisive move above this resistance zone could lead to a fresh leg of the rally. Among sectoral drivers, private banks like HDFC Bank and Kotak Bank, along with public sector players such as SBI and Federal Bank, are expected to lend support to any upward move in Bank Nifty. "In the options market, high Put Open Interest at 56,000 and 55,500 confirms these as key support levels, while Call OI at 56,500 and 57,000 highlights the immediate hurdles," as per Choice Broking.
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Business Standard
12-06-2025
- Automotive
- Business Standard
Bajaj Auto, Tech Mahindra, L&T Tech: Analyst pick 3 stocks to buy today
Stock recommendations: Bajaj Auto Bajaj Auto appears to be in its fifth impulsive wave after completing Wave 4, indicating the continuation of its uptrend. The stock is witnessing steady volume, and the price has managed to close above all major Exponential Moving Averages (EMAs), reinforcing the bullish bias. The Relative Strength Index (RSI), after a brief cool-off, has started moving upward, supporting the ongoing price action. Additionally, DI+ trading above DI− signals a bullish stance, while the ADX above DI− suggests strength in the uptrend. As long as the stock sustains above ₹8,400, it remains well-positioned to move higher towards ₹9,300, followed by ₹9,500. Bajaj Auto: ₹8,719 Stop Loss: ₹8,400 Tech Mahindra Tech Mahindra (TECHM) has given a breakout from a Flag and Pole pattern, indicating a continuation of the prior uptrend. The breakout is accompanied by an increase in volume, highlighting strong buying interest at current levels. The stock is trading above both the 21-period (fast) and 100-period (slow) Exponential Moving Averages (EMA), which further reinforces the bullish sentiment. The Relative Strength Index (RSI), after a cool off, has resumed its upward movement, lending additional support to the positive price action. Furthermore, the DI+ crossing above DI- following a consolidation phase signals a bullish stance. The ADX moving above DI- indicates that strength is building in the ongoing uptrend. Strategy: The stock can be considered for buying at current levels as long as it holds above ₹1,550. Potential upside targets are ₹1,770 and ₹2,000. Tech Mahindra: ₹1,637.50 Stop Loss: ₹1,550 Target Price: ₹1,700/2,000 L&T Technology Services LTTS has given a breakout above a falling trendline, accompanied by a volume surge, indicating strong buying interest at current levels. Additionally, the stock has broken out of the Bollinger Bands after a prolonged consolidation period, with an expansion in band width suggesting increased volatility and a confirmed breakout. The Relative Strength Index (RSI) is trading in the higher range, supporting the bullish outlook. Overall, the technical setup indicates that the stock is well-positioned to move higher towards ₹4,900, followed by ₹5,150, with a stop-loss placed at ₹4,400. L&T Technology Services: ₹4,584.90 Stop Loss: ₹4,400
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Business Standard
04-06-2025
- Business
- Business Standard
Brigade Enterprises, Cochin Shipyard among top picks recommended by analyst
Stocks to buy: Brigade Enterprises has given a breakout from a falling parallel channel pattern, indicating a potential trend reversal Stocks recommendations: Brigade Enterprises Ltd Brigade Enterprises has given a breakout from a falling parallel channel pattern, indicating a potential trend reversal. The stock is currently trading above all major Exponential Moving Averages (EMAs), which reflects a strong bullish undertone. A notable increase in volume on the breakout day suggests active participation from buyers, indicating strong demand and conviction in the upward move. The Relative Strength Index (RSI) has also broken out above its resistance level, confirming strength in momentum and supporting the ongoing price action. Furthermore, the MACD line has crossed above the signal line, reinforcing the bullish outlook and suggesting the potential for further upside in the near term. Cochin Shipyard Ltd Cochin Shipyard has resumed its upward movement following a successful throwback, confirming the strength of the breakout. The stock is forming a Higher High–Higher Low structure, ₹which is a classic indication of an ongoing uptrend. Additionally, volumes have been steadily rising since the throwback, signaling sustained buying interest and investor confidence in the current rally. The Relative Strength Index (RSI) is trading in a higher range, further supporting the bullish momentum and indicating strength in the ongoing trend. Cochin Shipyard: ₹2,016.8 Stop-loss: ₹1,700 Target price: ₹2,500/₹2,700 Ideaforge Technology Ltd Ideaforge has completed its subwave 4 corrections and has now entered into the fifth pulsive wave, signaling the continuation of its primary uptrend. The stock has taken support at the 20-day Exponential Moving Average (EMA) and bounced back, indicating that the 20 EMA is acting as a strong dynamic support level. An increase in volume during buying sessions reflects growing buyer confidence and accumulation at current levels. Moreover, the Relative Strength Index (RSI) has reversed from the throwback phase and is now trending upward, further confirming the bullish momentum. Idea Forge: ₹561.20 Stop-loss: ₹496
