5 Stocks for next week 26th-30th March 2018
23 Mar 2018
Gautam Upadhyaya
Untitled Document
1) HCL Technologies Limited - Buy
Stock
|
HCL Technologies Limited
|
Recommendation
|
The stock is trading in a rising channel formation and has formed a large bullish engulfing candlestick pattern on the daily chart. It is also on the verge of witnessing a bullish crossover on the daily MACD indicator.
|
Buy/Sell
|
Range
|
Target
|
Stop Loss
|
Buy
|
953-959
|
1020
|
916
|
NSE Code
|
Market Cap(Rs in Cr)
|
52-week High /low
|
200 Day M.A
|
HCLTECH
|
132885
|
1041/796
|
898
|
2) DLF Limited – Sell
Stock
|
DLF Limited
|
Recommendation
|
The stock has given a breakdown below its support levels on the daily chart backed by a surge in volumes and has also given a close below its 200 day EMA. Derivative data indicates fresh short formation in the stock.
|
Buy/Sell
|
Range
|
Target
|
Stop Loss
|
Sell (March Futures)
|
201-203
|
190
|
210.4
|
NSE Code
|
Market Cap(Rs in Cr)
|
52-week High /low
|
200 Day M.A
|
DLF
|
36332
|
273/144
|
210
|
3) Century Textiles & Industries Limited - Sell
Stock
|
Century Textiles & Industries Limited
|
Recommendation
|
The stock has given a breakdown from a descending triangle formation on the daily chart and has also formed a bearish engulfing candlestick pattern on the weekly chart. We expect the weakness in the stock to persist in the following week.
|
Buy/Sell
|
Range
|
Target
|
Stop Loss
|
Sell(March Futures)
|
1124-1130
|
1074
|
1172
|
NSE Code
|
Market Cap(Rs in Cr)
|
52-week High /low
|
200 M.A
|
CENTURYTEX
|
12600
|
1471/993
|
1232
|
4) Axis Bank Limited - Sell
Stock
|
Axis Bank Limited
|
Recommendation
|
The stock has given a breakdown from a symmetrical triangle formation on the daily chart backed by a surge in volumes. Derivative data indicates fresh short formation, which affirms our bearish view on the stock.
|
Buy/Sell
|
Range
|
Target
|
Stop Loss
|
Sell (March Futures)
|
497-501
|
472
|
517
|
NSE Code
|
Market Cap(Rs in Cr)
|
52-week High /low
|
200 M.A
|
AXISBANK
|
127801
|
627/447
|
531
|
5) ICICI Bank Limited - Sell
Stock
|
ICICI Bank Limited
|
Recommendation
|
The stock is trading in a lower top lower bottom chart structure and has witnessed a breakdown below its support levels on the daily chart. The stock has also shown weakness on the weekly MACD histogram.
|
Buy/Sell
|
Range
|
Target
|
Stop Loss
|
Sell (March Futures)
|
274-277
|
260
|
285.6
|
NSE Code
|
Market Cap(Rs in Cr)
|
52-week High /low
|
200 M.A
|
ICICIBANK
|
176406
|
365/240
|
301
|
Research Disclaimer