Broking firm Marwadi Shares & Finance (MSFL) has recommended following five technical calls for this week:
1. Rural Electrification Corporation (REC)
Current Market Price (CMP) - Rs 176
The stock has formed bearish candle with good amount of volume on chart indicates weakness. It has broken down support of 100 DEMA and expected to test 200 DEMA near to 160 on daily chart. RSI and stochastic oscillator have given negative crossover therefore sell with stop loss.
2. Dabur
Current Market Price (CMP) - Rs 290
The stock has formed bullish candle on daily chart. It has given break out of inverted head & shoulder formation on daily chart. It has strong support of 200 DEMA near to 280 on daily chart.RSI and stochastic oscillator have given positive crossover therefore we recommend to buy with stop loss.
3. Tata Motors
Current Market Price (CMP) - Rs 443
Three black crows formation with supportive volume on daily chart indicates negative stance in counter. It is performing below all moving averages and facing strong resistance of 200 DEMA near to 470. RSI and stochastic oscillator have given negative crossover therefore we suggest to sell with stop loss.
4. REL Capital
Current Market Price (CMP) - Rs 651
A sizable bullish candle with spicy amount of volume on daily chart suggests strength in counter. It is performing above all moving averages and short term DEMAs (7, 14&21) have given positive crossover. However RSI is trading in over bought territory therefore we recommend to buy on dips.
5. IRB
Current Market Price (CMP) - Rs 214
A bunch of black candle in lower top lower bottom formation on daily chart indicates weakness. Additionally, it has given break down of rounding top pattern. Momentum indicator RSI and stochastic oscillator are in favor of bear therefore we suggest to sell with stop loss.
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