Weekly Technical Outlook: Top Stocks to Watch
By CapitalKeeper | Technical Outlook | Indian Equities | Market Moves That Matter
1. 3i Infotech Ltd (CMP: ₹24.83)
- Buy Zone: Current Market Price (CMP)
- Stop Loss: ₹19.50
- Targets: ₹34 – ₹44 – ₹55
- Technical Insight: The stock is trading near its support levels. Monitoring for a breakout above ₹25 with increased volume could indicate bullish momentum.
2. GMR Airports Infrastructure Ltd (CMP: ₹84.10)
- Option Strategy: Buy 85 CE @ ₹2.75
- Stop Loss: Below ₹80
- Targets: ₹90 – ₹95
- Technical Insight: The stock is consolidating near its resistance zone. A breakout above ₹85 with strong volume may lead to the target levels.
3. Walchandnagar Industries Ltd (CMP: ₹235.32)
- Technical Insight: The stock has closed above its trendline and resistance area, accompanied by a positive MACD crossover on daily and weekly charts. Significant volume suggests potential for upward movement. Support is seen at ₹200–₹210.
4. Gujarat Pipavav Port Ltd (CMP: ₹156.15)
- Technical Insight: A breakout from the trendline and range with substantial volume indicates bullish sentiment. The stock looks favorable for the short term with support between ₹140–₹150.
5. Dolat Algotech Ltd (CMP: ₹100.78)
- Technical Insight: The stock has broken above its trendline and resistance levels with rising volume. Positive MACD on daily and weekly charts supports a bullish outlook. Support lies between ₹80–₹85.
6. CEAT Ltd (CMP: ₹3,779)
- Technical Insight: The stock is exhibiting strength in the short term. Monitoring for sustained movement above current levels could present trading opportunities.
7. KFin Technologies Ltd (CMP: ₹1,079)
- Technical Insight: The stock is showing positive momentum in the short term. Keeping an eye on volume and price action can help identify potential entry points.
8. Strides Pharma Science Ltd (CMP: ₹811)
- Technical Insight: A trendline breakout accompanied by significant volume suggests bullish potential. Support is identified between ₹725–₹740.
9. ITI Ltd (CMP: ₹365.90)
- Technical Insight: The stock has experienced a narrow range breakout with volume, indicating potential for short-term gains. Support is seen between ₹270–₹275.
10. Jubilant Ingrevia Ltd (CMP: ₹371)
- Technical Insight: A trendline breakout with volume suggests bullish momentum. A move above ₹380–₹390 could be favorable for short-term trading.
11. Elgi Equipments Ltd (CMP: ₹535)
- Technical Insight: The stock has broken above its trendline with volume, and positive MACD divergence on daily and weekly charts indicates a bullish outlook. Support is between ₹470–₹480.
📌 Key Technical Indicators Explained
- MACD (Moving Average Convergence Divergence): A trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. A positive crossover suggests bullish momentum.
- Volume: An increase in trading volume often precedes significant price movements, confirming the strength of a trend or signaling potential reversals.
- Support and Resistance: Support is a price level where a downtrend can be expected to pause due to a concentration of demand. Resistance is a price level where a trend can pause or reverse due to a concentration of selling interest.
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