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You are here : IndiaNotes >> Research & Analysis >> Companies >> Kaveri Seed Company Ltd. >> Research

Technical Calls: Buy Kaveri Seed Company and Motherson Sumi Systems

SMC | 25 Jan, 2017  | Follow Author | Add to my Favourites 
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Kaveri Seed Company:


The stock closed at Rs481.05 on 20th January 2017. It made a 52-week low at 308.85 on 29TH January 2016 and a 52-week high of 493.40 on 20TH January 2017. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 417.59


As we can see on charts, stock was consolidating in the range of 300-460 levels since November, 2015. In the last traded week, stock went up with 5% gain and managed to close above the breakout of consolidation zone. Apart from this, there is a sharp rise in volume activity during the last week, which indicates buying is more aggressive at current levels. Therefore, one can buy in the range of 470-475 levels for the upside target of 525-540 levels with SLbelow 435.


Motherson Sumi Systems:

 

The stock closed at 326.35 on 20th January 2017. It made a 52-week low at 205.90 on 25th February 2016 and a 52-week high of 358.65 on 02nd August 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 307.37


Short term and medium term bias remain positive for the stock. Currently, it is trading in the stiff range of 280-340 levels and is forming “Ascending Triangle” on weekly charts, which is bullish in nature. Therefore, one can buy in the range of 318-322 levels for the upside target of 355-360 levels with SLbelow 300.


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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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