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.