Shilpa Medicare
(i) Stock is in downtrend and can fall further if fails to cross 450-62 and breaks below 410. Below 410 We expect stock to test 350 in coming days. However above 462 stock can go upto 485 to 510-520.
(ii) Head and Shoulder pattern target 350-330 and lower.
(iii) Support 410 is an important level being 61.8% retracement of entire previous rally from 233 to 695.
(iv) daily charts looks oversold but candle looks bearish, on weekly chart candle pattern looks bullish but RSI 14 yet to test sub 30% levels. So, expect lower levels.
Dr. Reddy :
(i) On daily chart : Symmetrical Triangle pattern
(ii) Breakout levels 5080-4890, Above 5080 stock can rally 10-15% while below 4890 support 4760-4650.
(iii) ROC, Stochastic %K, RSI indicating positive trend for coming days.
(iv) Doji formation of Weekly chart indicating trend change from a falling trend, RSI 5 is in oversold zone.
Larsen & Toubro
(i) Weekly charts are positive and indicating targets of 992-1024 to 1080 in coming days.
(ii) Stock is trading rangebound and hovering around bottom of the range. Stoploss can be placed@925.
(iii) As per daily charts 200dMA 970 is working as resistance, 990 will be Cup & Handle breakout level. In that case target will be 1140.
(iv) Technical indicators are in buy mode
AB Capital
(i) Add above 73 for 80-90 stop 68 As stock has crossed 50w MA
(ii) Investors can add above 80 for 117
(iii) Candle formed on Friday is called bearish Shooting Star and indicates further fall in coming days,So fresh entry only above 73.
(iv) Inverted Head & Shoulder with target of 85 is easily identifiable.
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