Two stocks that have stood the test of time

Published June 12, 2019

The market showed a small gain Tuesday, and Nifty 50 (NIFTY) ended the day at 11966 points, which is an increase of 0.36 percent.

We are writing about two stocks that have stood the test of time, seen the ups and downs of the market in the past ten months and still holding strong, none the less making new highs. Axis Bank Limited and Titan Company Limited

Titan Company Limited (TITAN.NS) Close: 1284.95

Investors have paid higher prices over time to buy Titan Company Limited and the index is in a rising trend channel in the short, medium and long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company. The stock is up by over 70 percent which is huge for a Nifty 50 stock. The stock has support around 1240 rupees, while there is no resistance in the stock since it close at its all time high on Tuesday.

RSI above 70 shows that the stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price may continue to rise. The stock is overall assessed as technically slightly positive for the medium to long term.

Recommendation one to six months: Positive

Axis Bank Limited (AXISBANK.NS) Close: 814.80

Axis Bank Limited has risen by 51 percent since its bottom in late October. The stock shows strong development within a rising trend channel in the medium term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. In the longer term chart the stock has broken above the upper trend channel line which indicates even stronger rate of rise for the stock.

Volume balance is positive. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend. RSI is above 70 after a good price increase the past weeks. The stock has strong positive momentum and further increase is indicated.

There is little resistance around 822.80 rupees so the upside can be big, while there is support around 768 rupees.

Recommendation one to six months: Positive

The analyses are based on closing price as per June 11, 2019. Maintaining proper stop loss is always recommended.