Broking firm Marwadi Shares & Finance (MSFL) has recommended following five technical calls for this week (Nov 24-28):
1. ICICI Bank
Current Market Price (CMP) - Rs 1,730
A strong bullish candle with good amount of volume and A bunch of white candle on weekly chart indicates strength. It has strong support of short term DEMAs. However RSI is trading near to overbought zone, therefore we recommend to buy on dips.
2. L&T
Current Market Price (CMP) - Rs 1,666
A couple of mixed candle on daily chart indicates consolidation phase. However it has strong support of 1,600 on daily chart. On the oscillator Front: RSI and stochastic are in favor of bull. We recommend to buy with stop loss of 1,600.
3. Reliance Infra
Current Market Price (CMP) - Rs 623
The stock has formed ''Engulfing bearish'' near to resistance level indicates weakness. It is facing strong resistance near to 675 on daily chart. Selected momentum indicators RSI and stochastic oscillator have given negative crossover. Sell with stop loss.
4. ITC
Current Market Price (CMP) - Rs 376
The stock has bullish candle on daily chart. Additionally. It has given break out of pennant pattern on daily chart. Selected momentum indicators RSI and stochastic oscillator are in favor of bull. We therefore recommend to buy with stop loss.
5. JSW Steel
Current Market Price (CMP) - Rs 1,90
The stock has formed bearish candle and opened up downside range up to 1,130. Short term DEMAs have given negative crossover. On the oscillator Front: RSI and stochastic have given negative crossover. Sell with stop loss.
