5 Stocks for next week 26th-30th March 2018
23 Mar 2018
Gautam Upadhyaya
Untitled Document
1) HCL Technologies Limited - Buy
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Stock
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HCL Technologies Limited
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Recommendation
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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.
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Buy/Sell
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Range
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Target
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Stop Loss
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Buy
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953-959
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1020
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916
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NSE Code
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Market Cap(Rs in Cr)
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52-week High /low
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200 Day M.A
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HCLTECH
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132885
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1041/796
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898
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2) DLF Limited – Sell
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Stock
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DLF Limited
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Recommendation
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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.
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Buy/Sell
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Range
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Target
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Stop Loss
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Sell (March Futures)
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201-203
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190
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210.4
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NSE Code
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Market Cap(Rs in Cr)
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52-week High /low
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200 Day M.A
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DLF
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36332
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273/144
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210
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3) Century Textiles & Industries Limited - Sell
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Stock
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Century Textiles & Industries Limited
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Recommendation
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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.
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Buy/Sell
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Range
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Target
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Stop Loss
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Sell(March Futures)
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1124-1130
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1074
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1172
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NSE Code
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Market Cap(Rs in Cr)
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52-week High /low
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200 M.A
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CENTURYTEX
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12600
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1471/993
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1232
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4) Axis Bank Limited - Sell
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Stock
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Axis Bank Limited
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Recommendation
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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.
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Buy/Sell
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Range
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Target
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Stop Loss
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Sell (March Futures)
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497-501
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472
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517
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NSE Code
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Market Cap(Rs in Cr)
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52-week High /low
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200 M.A
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AXISBANK
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127801
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627/447
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531
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5) ICICI Bank Limited - Sell
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Stock
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ICICI Bank Limited
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Recommendation
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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.
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Buy/Sell
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Range
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Target
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Stop Loss
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Sell (March Futures)
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274-277
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260
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285.6
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NSE Code
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Market Cap(Rs in Cr)
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52-week High /low
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200 M.A
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ICICIBANK
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176406
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365/240
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301
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Research Disclaimer