Tech Question: What’s the outlook for the inventory of Axis Financial institution?
I’ve purchased shares of Axis Financial institution at ₹692. My funding horizon is one yr. What’s the outlook and what ought to be the exit goal?
Ravi Kumar
Axis Financial institution (₹751.10): Barring the spike to a excessive of ₹866.6 in October final yr, Axis Financial institution has been broadly range-bound for a very long time. It has been oscillating between ₹620 and ₹820 since February final yr. This vary continues to be intact. Fast help is at ₹705. In case the inventory declines beneath it, a fall to ₹660 and even ₹620 is feasible. Since your funding time frame is one yr, the autumn to ₹660 and ₹620, if seen, is usually a good alternative so that you can accumulate.
Purchase extra at ₹665 and ₹625. Hold a stop-loss at ₹575. The inventory has the potential to focus on ₹960-970 on a break above ₹820. Revise the stop-loss as much as ₹710 as quickly because the inventory strikes as much as ₹840. Transfer the stop-loss additional as much as ₹820 when the inventory touches ₹910 on the upside. Exit the inventory at ₹940. The bullish outlook will get negated, and the inventory will come underneath strain provided that it breaks beneath ₹600. However that appears much less possible.
What’s the technical outlook for the inventory of Godrej Shopper Merchandise?
Palani Shanmugam
Godrej Shopper Merchandise (₹914.3): The inventory has been in a powerful uptrend since April this yr. From a long-term perspective, the downtrend that was in place since September final yr has acquired reversed. Helps are at ₹870 and ₹830. A lot decrease helps are at ₹760 and ₹730. However the draw back is more likely to be restricted to ₹830, going ahead. The 21-Week Shifting Common (WMA) is on the verge of crossing over the 100-WMA. This strengthens the bullish case. It additionally signifies that the draw back may very well be restricted. So, as talked about above, a fall beneath ₹830 is unlikely.
The inventory can rise to ₹1,200 over the following one yr from right here. Buyers with a minimal of one-year time frame should buy this inventory at present ranges. Accumulate the inventory on dips at ₹880 and ₹840. Hold the stop-loss at ₹710. Transfer the stop-loss as much as ₹930 as quickly because the inventory strikes as much as ₹1,020. Transfer the stop-loss additional as much as ₹1,040 when the inventory touches ₹1,120 on the upside. Exit the inventory at ₹1,180.
I’ve purchased the shares of KEC Worldwide. My buy value is ₹298. What’s the long-term outlook for this?
Ravichandran A
KEC Worldwide (₹402.6): The inventory is now hovering effectively above your buy value. It’s now crucial to lock in some revenue in case any sudden fall occurs. So, maintain stop-loss at ₹340 and exit the inventory if a pointy fall is seen from present ranges. Cluster of helps are poised in between ₹370 and ₹350. So, the probabilities of your stop-loss getting hit could be very much less.
So long as the inventory sustains above the ₹370-350 help zone, the general outlook will stay bullish. An increase to ₹550-570 is feasible within the first half of subsequent yr. Revise your stop-loss as much as ₹420 when the inventory rallies to ₹490. Transfer the stop-loss additional as much as ₹495 when the inventory touches ₹515 on the upside. Exit the inventory at ₹540. The inventory will come underneath strain solely on a decisive shut beneath ₹350. In that case, a pointy fall to ₹280-270 is feasible
Printed on
Source link