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You are here : IndiaNotes >> Research & Analysis >> Companies >> Bharat Electronics Ltd. >> Research

Technical Calls: Buy Bharat Electronics and Rain Industries

SMC | 07 Dec, 2016  | Follow Author | Add to my Favourites 
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Bharat Electronics:


The stock closed at Rs1419.05 on 02nd December 2016. It made a 52-week low at 1008 on 01st March 2016 and a 52-week high of 1457.10 on 01st December 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 1239.53.


As we can see on the charts, after making triple top formation it fell down suddenly but was successful in recovering its lost value by making fresh buying pivot near 1080 levels. Moreover, last week most of the sectors were badly hit but it managed to sustain on higher note which shows its potential to remain upwards in the near term. Therefore, one can buy in the range of 1390-1400 levels for the upside target of 1475-1485 levels with SL below 1350.


Rain Industries:

 

The stock closed at 51.00 on 02nd December 2016. It made a 52-week low at 25.50 on 12th February 2016 and a 52-week high of 56.50 on 14th October 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 42.53.


It has formed Inverted head and shoulder pattern which is bullish in nature. We anticipate this particular scrip to further move upwards in the near term and reach our desired targets. Therefore, one can buy in the range of 48-49 levels for the upside target of 51-52 levels with SL below 46.20.


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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