Mid To Long Term View On ICICIPRU and EXIDEIND

ICICI Prudential Life Insurance and Exide Industries Ltd are giving buy signals on a weekly chart for medium to long term. Let's see the technical analysis of both.

Technical Overview of ICICIPRULI: Currently the stock is trading at 463 and around the same levels stock has made previous top i.e. 07^th May 2018. After that stock has started to trade in “Lower Low – Lower High”. In the first week of February 2019, the stock has bottomed out around price 283 and given confirmation by Bullish Engulf. On 01^st April 2019, the stock price has given breakout to previous Lower High and started to trade in “Higher High – Higher Low”. The stock has touched the same price level in the last week and completed Cup. Now we are expecting small pullback till 445 to complete the Handle and plus point is today stock has created Inverted Hammer on the daily chart. Once we will get 100% confirmation of Cup & Handle with breakout then we will go for 500 and more.

However, we don’t want to miss small opportunities. Buy on dips till 445 i.e. near support of daily chart. Looking target of 465 with a stop loss of 430. If big dip comes then we can buy around next support i.e. 415.

If you are doing fundamental studies then you can easily identify the reason for picking Exide Industries. Nowadays the Indian government is focusing on Electric Vehicle and encouraging people. We are expecting a good future for electric vehicles and battery producing companies.

Technical Overview of EXIDEIND:  As we can see on the chart, the stock has given Break Down to Head & Shoulder Neckline on 15^th July 2019. In the last few weeks stock has touched to support i.e. around 170 and given bounce. After bottom out, the stock has given good close with good volumes. Currently, the stock is trading below Resistance, riskers can buy here or wait till closing above 200. We are expecting targets 210-220-230. We are giving two stop losses here i.e. 180 and 162.

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Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Short Term Opportunity in Reliance and Infosys

We have found two large-cap stocks which are looking good on the chart. Indian markets have taken a turn on Finance Minister’s announcements. Now everyone finding investment opportunities in good companies. 
  
Technical Overview of RELIANCE: From the last few months Reliance Industries was in downtrend. In the period of 18th June to 24th July 2019, the stock was trading in the consolidation zone. After that stock has broken down the range and started afresh drop. In the next two-three days and the stock has started to trade below their 200 DMA. And 200 DMA is playing an important role as support and resistance. Reliance Industries has given a sharp fall from 1232 to 1096 and took support as per the weekly chart. After that Aramco and BP have announced, they will help to slash debt of Reliance Industries and this news helped to stock to rise by 10% in a single day. After big gains stock again took resistance from previous consolidation zone and came down to fill the gap. Today stock has given Break Out to Trend Line and at the same time took resistance of the same zone.

As per our studies, we can buy a stock at a current price i.e. 1278 or on dips till 1255. Keep stop-loss of 1230 is advisable. Once stock crosses and closes above 1300 then it will show 1330-1370-1400.

Technical Overview of INFOSYS: As we can see in the below chart, on 15th July 2019 stock has given Break Out to range-bound zone and started a new journey from those levels. On 23rd September stock again fell down and closed near the same support. Yesterday with the help of dollar rally, the stock has gained by 3.50% in a day and closed at day high. If we see the last two candles then Bullish Harami pattern is formed on the daily chart and that is near support. Volumes are also good.

We can buy 50% quantity at current levels and the remaining 50% on dips i.e. at 780. Book loss if a stock will start to trading below 760 and hold for a target of 810-830.

Telegram: https://t.me/equitygamechanger/


Website: http://money4me.in/services.html

Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.