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Investtech Indices
Two buy and one interesting to watch
Published May 20, 2019
The exit poll numbers have arrived and suggest that existing government is expected to stay in power by winning the lower house of parliament with a majority. If that happens, that would be great news for the markets and the overall economy.
Reason that it is good for markets is that it shows stability in an economy, that its people trust the government and have confidence in their economic policies that would lead the country on the path of higher development.
So if we expect the stock market to rise, then best idea would be to stay invested in your existing holdings. Though if one wants to play in the market then one must go with the flow, which means to invest in stocks that are already in the rising trend, because then you will slip the risk of sailing against the tide. After all, trend is your best friend.
Keeping the above points in mind, we have two stocks for you that may turn out to be good investments. One more stock can be interesting to watch/invest as it has taken support on multiple occasions around same price area.
PI Industries Limited (PIIND.NS) Close: 1070.00
PI Industries Limited stock price has risen by 53 per cent since its bottom in September last year and is continuing its trend inside a rising trend channel in both medium and long term charts. This shows that investors over time have bought the stock at higher prices and indicates good development for the company.
The stock has given positive signal from a rectangle formation by breaking up through the resistance at 1059 rupees. Further rise to 1114 or more is signaled. The stock has support at 1010 rupees in the medium term.
The volume balance is positive and strengthens the stock in the short term. We behold our recommendation of buy in PIIND given on February 26.
Recommendation one to six months: Positive
Atul Limited (ATUL.NS) Close: 3785.75
Investors have paid higher prices over time to buy Atul Limited and the stock is in a rising trend channel in all time frames from short to long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.
The stock has broken out through the resistance at 3584 rupees and also from a rectangle formation on the upside. Further rise to 3941 or more is signaled. The stock has support at 3570 and 3260 rupees.
RSI above 70 shows that the stock has strong positive momentum in the short term indicating increasing optimism among investors. The stock is overall assessed as technically positive for the medium term.
Recommendation one to six months: Positive
Tata Chemicals Limited (TATACHEM.NS) Close: 619.75
Tata Chemicals Limited shows weak development in a falling trend channel in the medium term. However, in the short term, the stock is in a rising trend channel and has just closed above the resistance of 612 rupees.
On several occasions in the past few months, the price has taken support around the same area of 550-560 rupees. This time it has reacted sharply and the stock has risen by more than 11 per cent in just two trading sessions. For investors who have the heart to take risk at this juncture, this stock can be a good bet with a stoploss at 550 or slightly lower on the closing basis. On the upside there is resistance around 663 and 720 levels.
Positive volume balance supports the stock in the short term. The stock is overall assessed as watch in the medium term and buy in the short term.
Recommendation one to six weeks: Positive
The analyses are based on closing price as per May 17, 2019. Maintaining proper stop loss is always recommended.
Skrevet af
Analytiker
i Investtech
Archive:
6 May: This banking stock has gone up by 20% in the last six months
2 May: Three exciting buy opportunities - Price breakouts
24 April: Exclusive research report: Rectangles and return from breakouts
17 April: Stock with 20 per cent upside potential
11 April: Three buy opportunities, price-volume breakout
29 March: Two stocks to stay from
27 March: Recent breakouts in three stocks, short term opportunity
21 March: Three buy and one sell
12 March: Cement stocks are posing good opportunity
08 March: Clear breakout and reversal from intermediate downtrend
07 March: Deepak Nitrite Limited looks promising to enter into a trade
06 March: Three buy candidates for medium to long term
28 February: Breakout in these three stocks invites for early opportunity
26 February: Two buy opportunities for the near term future
21 February: Stocks with RSI above 70, based on our research
19 February: Close to selling point, time to be cautious
15 February: These two sugar stocks look promising
14 February: Three short to medium term opportunities
08 February: One buy and one sell in stocks while index suggests caution
06 February: One buy and one sell, short to medium term opportunities
01 February: Upside breakout from price formations
30 January: Buying opportunity: Reversing from trend channel support
9 January: One positive and one to stay away from
2 January: A good investment opportunity
2018
21 December: Good buying opportunities
14 December: Positive on these three stocks
11 December: One buy and one sell signal
07 December: Sell Signals in Three Big Stocks
04 December: Highest scorer of our Top 50 list
30 November: Positive stocks with 5-11 per cent upside potential
28 November: Buy signal on high volume
27 November: One Buy and One Sell Signal
23 November: Fear dominates these stocks
21 November: Sell signal, time to stay away
20 November: Early opportunity from short term buy signal?
16 November: Two Buy Signals and One Sell Signal
15 November: Buy signal in this one
13 November: Big auto stocks comparison
09 November: What to wait for?
06 November: Banking stocks look positive
02 November: Positive on this one
01 November: TECHM, NIFTY50 and Hausse
31 October: What are investors thinking?
30 October: Bullish on these three stocks
26 October: Three potential candidates to ride on
24 October: Three big Metal stocks, Seasonal variation
22 October: Among top performers on our Top 50 list
18 October: Three stocks investors should stay away from
17 October: Flowing against the tide
16 October: Positive on these 2 stocks
11 October: Over 45 per cent rise
9 October: The Indian banking space
5 October: Nifty closes at a crucial level
2 October: Price formations in the long-term charts
28 September: Positive on Biocon Limited
"Investtech analyserer psykologien i markedet og giver dig konkrete tradingforslag hver dag."
Partner & Senior Advisor - Investtech
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Investeringsanbefalinge(r)n(e) er udarbejdet af Investtech.com AS ("Investtech"). Investtech garanterer ikke for fuldstændigheden eller rigtigheden af analysen. Eventuel eksponering i forhold til de råd / signaler, som fremkommer i analyserne, står helt og holdent for investors regning og risiko. Investtech er hverken direkte eller indirekte ansvarlig for tab, der opstår som følge af brug af Investtechs analyser. Oplysninger om eventuelle interessekonflikter vil altid fremgå af investeringsanbefalingen. Yderligere information om Investtechs analyser findes på infosiden.
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