VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds

Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
You are here : IndiaNotes >> Market Action >> Technical

Weekly Equity Picks: Oil India, Amara Raja Batteries

Way2wealth | 31 Jan, 2017  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 4.0 Based on 1 ratings)

Oil India (Cash):

- Looking at the weekly chart, we are seeing a formation of Positive Reversal which is a bullish indication.

- Top bottom support seen on weekly chart along with the 50% Fibonacci retracement placed near previous week low of 327.50

- The daily Higher Top Higher Bottom formation is intact. Along with the last Monday’s price action formed a price close support line.

- The daily RSI (14) found support near 40 and reversed hence maintained its bullish range.

- Hence, traders are advised to buy this stock in a range of 339 to 335 with a price target of 369. Stop loss should be placed at 319.

Amara Raja Batteries (Cash):

- Looking at the daily chart, stock has formed three point Bullish divergences where the third point has a range shift as RSI (14) took support near 40 levels.

- Thursday’s price action has formed close line support which indicates the last week low of 855 will act as a strong support.

- Looking at the current price structure on close only chart resembles a triple bottom formation and the neck line of said pattern comes near 920 on closing basis.

- Combining above technical evidences, we advised traders to buy this stock in a range of 890 to 885 with a price target of 995. Strict stop loss should be placed at 840.


  Read full report Click here to read the full report

About Way2wealth

Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


For more information please write in to [email protected]

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 accept any liability whatsoever arising from the use of any of the above contents.

Technical Calls

What are technical calls?

Other Articles

Have a question?

Rakesh Sethi
CEO of 3M Team Security Services - 3M Team Security Services