5 Stocks for next week 26th-30th March 2018
Gautam Upadhyaya
Last Updated: 23rd March 2018 - 04:30 am
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 |
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Sachin Gupta
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