Technical Analysis of Indian Equities by Nooresh

Stocks on Radar – Exide Inds , Maruti, Adani Ports , Castrol, Eicher Motors, Mahindra & Mahindra, Shriram Transport, Titan

These are not recommendations - Please do your own research and risk management.

Focusing only on the Nifty and Junior Nifty stocks in this post.

Looking at stocks which have made a few strong basing out formations possibly.

Also buying supports is tricky as no one knows whether it could end up being a breakdown or a major bottom. Only good part is you can define a clear stoploss for the trade or even get into a short if the supports break.

The other way is to look for a cross above recent highs. I personally find this trades tricky as my style is more towards longer breakouts.

Exide Inds

Exide Inds

  • Good support seen around 170. Also a big block deal was done at those prices a few months back.

Maruti blog

Maruti

  • Retest of previous highs around 4800 done and bounced strongly.
  • Good supports at 4800/5000

Adani Ports

Adani Ports

  • Few bottoms around 250-260 in last few months. Also promoters have been buying as per Insider Trading Disclosures.

Castrol Blog

Castrol

  • Back to the support zone of last 10 months around 360.

Eicher Motors

Eicher Motors

  • 19500 a major support zone.

Hindustan unilever

Hindustan Unilever

  • 770-810 is the lower end of the range for last 2 years.

M&M

M&M

  • After a breakout failure at 1400 the stock is now again close testing the 2 year range at 1100.

Shriram Transport

Shriram Transport

  • Back to the lows of 750-800 made in last 2 years.

Titan

Titan

  • Back to the lower end of the range at 300.

 

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Article by Nooresh Merani

Nooresh has written 2577 articles.

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