Weekly trading calls for- 18-07-11-22-07-11
ACC
LTP 980.00
View: Positive
Oscillators Analysis: Stochastics and RSI are positive crossover and are in oversold territory on weekly chart reading, which indicate
positive sentiment in stock momentum with decent volume support.
Pattern Analysis: A clear higher top and higher bottom formation and support zone at 955-965, which indicates stock may upside till
resistance level, is a confirmation of a trend in that direction.
Technical Analysis:
ACC Ltd has bullish hammer candle stick formation on weekly chart with decent volume support. Stock has closed strong above at
multiple supports at 970 levels. Weekly stocastics has shown positive crossover into oversold territory which will tend to support
reversal action if it occurs. The market tilt is bullish with the close above strong 65 weekly moving average supports at 965 on weekly
chart basis. The next area of resistance is around 1050-1100, while 1st support hits at 965 and below there at 950. It is also heading towards
resistance zone at 1050.00.
We recommended the stock at CMP and declines till 955 with stop loss at 930 (closing basis) for a target of Rs. 1050 - 1100.
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Aurobindo Pharma Limited
LTP 173.85
View: Positive
Oscillators Analysis: Stochastics and RSI are highly over sold territory and positive crossover from lower levels on weekly chart reading,
which indicates positive sentiment in stock momentum.
Pattern Analysis: A clear double bottom formation and trend line support at 165.00, which indicates stock upside, is a confirmation of a
trend in that direction with volume support.
Technical Analysis:
On Weekly chart AUROPHARMA has been trading above support zone at 158 and above short term moving average (20 DMA) at 170
levels, which indicates positive sentiment in short term trading and strong buying pressure around support zone at Rs.170-165, we expect
the momentum to continue till multiple resistance at 197 on the upside targets. And any genuine correction should see in stock price
around support at 166-170, which should be used as a buying opportunity for the potential target 197.00.
We recommended the stock at market and in the range 166-170, with stop loss below at 162(on closing basis) for a target of Rs. 197.00.