Positive on these three stocks

Published December 14, 2018

Getting straight to the analysis today. We are positive on these three stocks.

Bajaj Finserv Limited (BAJAJFINSV.NS) Close: 6159.40

Bajaj Finserv Limited is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. Has broken an inverse head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a rising trend.

The stock has support at 5750 and resistance at rupees 7100. This turns out to be a good risk-reward ratio. The stock is overall assessed as technically positive for the medium term.

Investtech's outlook (one to six months): Positive

Colgate Palmolive (Ind (COLPAL.NS) Close: 1303.50

Colgate Palmolive (India) Limited has broken up from an approximate horizontal trend channel in the medium term. A positive signal has been triggered and further increase for the stock is indicated. The stock has support at rupees 1260.

Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which strengthens the trend break. RSI is above 70 after a good price increase the past weeks. The stock has strong positive momentum and further increase is indicated.

Investtech's outlook (one to six months): Positive

Infosys Limited (INFY.NS) Close: 697.75

Investors have paid higher prices over time to buy Infosys Limited and the stock is in a rising trend channel in the medium term. After having a small period of correction, the stock price is back inside the trend channel, which is a positive sign. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.

The stock has broken up through the resistance at rupees 680 which should now act as a support. There is resistance around 746 rupees, and a break and close above that level would trigger a new buy signal.

Investtech's outlook (one to six months): Positive

 

The analyses are based on closing price as per December 13, 2018. Maintaining proper stop loss is always recommended.

Written by

Kiran R. Shroff

Analyst - Investtech

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Archive:

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

14 November: Solid buy signal

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

10 October: 3 negative stocks

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

26 September: Bearish outlook

25 September: 3 solid buys

20 September: State Bank of India story!

18 September: Weekly technical analysis

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Partner & Senior Advisor - Investtech
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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