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Investtech Indices
Stock with 20 per cent upside potential
Published April 17, 2019
Nifty 50 (NIFTY) developed positively on Tuesday, and gained 0.83 per cent to a close of 11787 points. The index thereby broke the previous record from August 2018 and set a new all time high. The index has now closed up for the fourth day in a row.
We bring you a banking stock that has the potential to rise around 20 per cent or more in the medium term (one to six months).
The South Indian Bank (SOUTHBANK.NS) Close: 17.60
The South Indian Bank has broken out of the falling trend channel in the medium term chart. It has given a price breakout from a double bottom formation both in the medium and long term charts and is now above its resistance of 16.80 rupees. Further rise to 20.85 or more is signalled.
Momentum is strong in the stock as indicated by the RSI curve. Positive volume balance indicates that the stock has been rising with rising volume as the buyers favour the stock, while it corrects with lower participation.
The stock has support around 16.80 - 15.90 and 12.80 levels, while resistance is around 22.60 rupees or equivalent to 28 per cent higher from yesterday's close. The stock is overall assessed as technically positive in the short to medium term.
Recommendation one to six months: Positive
The analyses are based on closing price as per April 16, 2019. Maintaining proper stop loss is always recommended.
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Archive:
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 analyserar psykologin i marknaden och ger dig konkreta tradingförslag varje dag."
Partner & Senior Advisor - Investtech
Investtech garanterar inte fullständigheten eller korrektheten av analyserna. Eventuell exponering utifrån de råd / signaler som framkommer i analyserna görs helt och fullt på den enskilda investerarens räkning och risk. Investtech är inte ansvarig för någon form för förlust, varken direkt eller indirekt, som uppstår som en följd av att ha använt Investtechs analyser. Upplysningar om eventuella intressekonflikter kommer alltid att framgå av investeringsrekommendationen. Ytterligare information om Investtechs analyser finns på infosidan.
Investtech garanterar inte fullständigheten eller korrektheten av analyserna. Eventuell exponering utifrån de råd / signaler som framkommer i analyserna görs helt och fullt på den enskilda investerarens räkning och risk. Investtech är inte ansvarig för någon form för förlust, varken direkt eller indirekt, som uppstår som en följd av att ha använt Investtechs analyser. Upplysningar om eventuella intressekonflikter kommer alltid att framgå av investeringsrekommendationen. Ytterligare information om Investtechs analyser finns på infosidan.
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