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5 Stocks for next week 29th Jan-2nd Feb 2018

25 Jan 2018 Gautam Upadhyaya

BEML - SELL

Stock BEML
Recommendation The stock has breached the symmetrical triangle formation on the daily chart backed by a surge in volumes. The stock has also shown weakness on the daily MACD Histogram.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 1493-1502 1435 1548
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 Day M.A
BEML 6156 1947/1125 1544

CHENNAI PETROLEUM - SELL

Stock CHENNAI PETROLEUM
Recommendation The stock has breached its support levels on the daily chart backed by a surge in volumes; the stock has also formed a large bearish candle on the weekly chart and has given a close below its 10 period EMA on the weekly chart.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 419-422 396 436
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 Day M.A
CHENNPETRO 6228 477/326 400

RAYMOND LTD - SELL

Stock RAYMOND LTD
Recommendation The stock continued to face selling pressure near its resistance zone and has formed a large bearish engulfing candlestick pattern on the daily chart. The stock has also shown weakness on the daily MACD Histogram.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 1080-1088 1016 1139
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
RAYMOND 6608 1141/492 862

ITC - BUY

Stock ITC LTD
Recommendation The stock is also in a higher top higher bottom chart structure. The stock has witnessed a positive bounce after consolidating in a sideways range for the past few months. The trend and strength analysis indicates that the current momentum is likely to continue further.
Buy/Sell Range Target Stop Loss
Buy 280-282 295 273
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
ITC 342368 353/250 242

RELIANCE INDUSTRIES - BUY

Stock RELIANCE INDUSTRIES
Recommendation The stock is in a rising channel formation on the weekly chart and has given a positive bounce from its support levels. We expect the positive momentum to continue in the stock.
Buy/Sell Range Target Stop Loss
Buy 961-967 1020 923
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
RELIANCE 610898 990-507 817

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5 Stocks for next week 29th Jan-2nd Feb 2018

25 Jan 2018 Gautam Upadhyaya

BEML - SELL

Stock BEML
Recommendation The stock has breached the symmetrical triangle formation on the daily chart backed by a surge in volumes. The stock has also shown weakness on the daily MACD Histogram.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 1493-1502 1435 1548
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 Day M.A
BEML 6156 1947/1125 1544

CHENNAI PETROLEUM - SELL

Stock CHENNAI PETROLEUM
Recommendation The stock has breached its support levels on the daily chart backed by a surge in volumes; the stock has also formed a large bearish candle on the weekly chart and has given a close below its 10 period EMA on the weekly chart.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 419-422 396 436
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 Day M.A
CHENNPETRO 6228 477/326 400

RAYMOND LTD - SELL

Stock RAYMOND LTD
Recommendation The stock continued to face selling pressure near its resistance zone and has formed a large bearish engulfing candlestick pattern on the daily chart. The stock has also shown weakness on the daily MACD Histogram.
Buy/Sell Range Target Stop Loss
SELL(FEB FUTURES) 1080-1088 1016 1139
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
RAYMOND 6608 1141/492 862

ITC - BUY

Stock ITC LTD
Recommendation The stock is also in a higher top higher bottom chart structure. The stock has witnessed a positive bounce after consolidating in a sideways range for the past few months. The trend and strength analysis indicates that the current momentum is likely to continue further.
Buy/Sell Range Target Stop Loss
Buy 280-282 295 273
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
ITC 342368 353/250 242

RELIANCE INDUSTRIES - BUY

Stock RELIANCE INDUSTRIES
Recommendation The stock is in a rising channel formation on the weekly chart and has given a positive bounce from its support levels. We expect the positive momentum to continue in the stock.
Buy/Sell Range Target Stop Loss
Buy 961-967 1020 923
NSE Code Market Cap(Rs in Cr) 52-week High /low 200 M.A
RELIANCE 610898 990-507 817

Research Disclaimer