Stop Loss: Rs 57.5
After showing a minor downward correction in the last few weeks, the PSU banking stock- MAHABANK – has shifted into a sustainable upside bounce so far this week. The larger degree positive pattern like higher tops and bottoms is intact and the stock price has bounced back after the formation of a new higher bottom at Rs 54 in the mid of February. Immediate support of the 10-week EMA is offering a base for the stock price and resulting in a sustainable upside bounce.
(Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities)
Agencies
Stop Loss: Rs 401
The sideways range movement of the last few weeks is on the verge of a decisive upside breakout around Rs 430 levels in this hotel stock. The stock price continues to sustain the immediate support of 10-day EMA in the last few weeks. The larger degree positive pattern like higher tops and bottoms is intact. Volume and daily RSI show positive indications.
(Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities)
ETMarkets.com
Stop Loss: Rs 3,070
Recent consolidation seems to be in a mature phase, sustained move above key averages ensures a positive outlook for the stock.
(Amit Trivedi, CMT, Technical Analyst – Institutional Equities, YES SECURITIES)
ETMarkets.com
Stop Loss: Rs 90.4
NHPC on the daily chart reveals an Ascending Triangle, confirming a breakout with a gradual increase in volume bar, signalling buyer dominance. The strong closing above the resistance is now reflecting positive sentiment and price action. Support from the Fast (21) EMA suggests a stable foundation for upcoming days. The RSI breakout from a downward-sloping line signals upside momentum in the counter.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
ETEnergyWorld
Stop Loss: Rs 431
A breakout of a Symmetrical Triangle pattern has been witnessed in VTL on a daily time frame, indicating a bullish trend in the security. The price is trading at the top, forming a bullish Candlestick formation, gradual volume increase on the day of the breakout indicates that buyers are active in the market. In the momentum area, RSI is trading in an upward trajectory.
On the directional front, DI+ is trading above DI- indicating a positive trend and ADX trades above DI- indicates strength in movement.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Agencies
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
