Tuesday, May 2, 2023

Stocks in Momentum

 Hello All !! 

Welcome Back after a Long Time... 

Today Posting about 2 Stocks which seem to Deliver exceptional Returns in coming days. 

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2 Stocks for a Good Momentum Play

1 Stock for Longer Term on Buying side 

1 Stock For Short Term Correction or Pullback 


First Stock of Today is 

REC LTD. 


Here is the Chart of the Stock 



As a Technical Analyst, I Prefer Looking at Charts and Decide My Course of Action. 

This Chart is a Monthly Time Frame Chart, Showing Data From Almost 2008 till date. As We can See the Stock is Stuck in a Long Term Consolidation and is Taking Support on a Rising Trend Line For a Long Time. The Stock has pierced the Resistance a Couple of Times but not able to Sustain and failed to the Support. This Time The Stock in Moving with a More Inclined Rising Trendline and given a Breakout on Short Term Resistance. 

But While Giving a Breakout on Short Term Resistance on Monthly Chart, The Monthly Candle of April 2023 Looks Amazingly Strong and If we Look at the Smaller Time Frame Like Daily or Weekly, We can See a Bullish Cup and Handle Breakout, Which will Help the Stock Push Above the Longer Term Resistance and Rise higher. 

Simultaneously it's peer Stock is also breaking Higher Levels and Moving High. Looking at the Developments in The Sector as well as the Push to Make in India, Developments in EV's, Metro, and Many Other Things which require Higher Electricity Consumption, We Feel There is a Tremendous Opportunity in this Sector and Stocks are going to perform Exceptionally Well. 

We At Pratham Investment Managers are Recommending This Stock For Long Term Holding and Upgrading the Price Targets. 

The Recommendation : 

REC Ltd. 

Buy at 130 - 140 Range 

Stoploss : Closing Below 100 Levels.

Targets : 180 - 240 - 320 - 440

Time Frame : 3-5 Years approximately. 

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Second Stock, which is For Short Term Pullback : 

AARTI INDUSTRIES LTD. 


Let's Have a Look at the Chart : 



This is a Weekly Time Frame Chart, as we Can See a Clear Rising Trend for a Long Duration, 2015 to 2022, Almost 7 years of Rising Trend along the Rising Trendline. After 2022, The Stock has Formed a Bearish Inverted Cup and Handle Pattern and Broken The Rising Trendline Support in The Process. The Breakdown is Seen in the Handle Portion and Then The Handle Completes and Gives Breakdown From the Neckline as Well. 

The Stock then Shows Some Bounce and The Retesting of The Neckline is in Process. The Highest Point For The Stock was around 1020 and The Trendline Breakdown Happened in the 650-660 Range While the Neckline is Placed around 580 Levels. The Stock is Currently Trading around 561, after Making a Low of approx 480 after the Breakdown of Cup and Handle. 

As Per the Formations and Chart Structure, We May Expect the Stock to Touch 390-320 Levels in Coming Months, if Everything goes well. 

If the Stock Crosses 588 Levels, Then We May Expect The Stock to Rise Towards the Falling Trendline and Will Take Resistance near 600-620 zone. 

Above 640, The Bearish View is Cancelled and We Might Think about Buy on Dips, But For Now.. We are Looking at a SELL on RISE Opportunity. 

The Recommendation here : 

AARTI INDUSTRIES LTD. 

Sell @ 560 and On Rise Towards 600 

Stoploss : Closing Above 640 

Targets : 480 - 420 - 390 - 330 - 320 

Time Frame : 3-4 Months Approximately. 

I Don't want to Talk about Fundamentals at this Point of Time. I Just Want To Follow the Charts. 

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Disclaimer : 

The Analyst Follows Charts and is a Technical Analyst having Experience of More Than 16 Years in Analysing Global Markets as Well As Indian Markets. The Analyst is a Certified Investment Adviser and Retirement Adviser, Having Certifications from Many Institutes around the World. 

The Suggestions Here are Purely Based on Study of Price on Charts and The Previous Real Data of Stock Price Movements, Nothing here is Speculative in Nature or Based on Any Source or News Based Activity. This is a Pure Analysis. So Follow The Analysis if you Are Comfortable trading and Taking Risks. Do Not Jump in Without Considering The Risk. Follow Risk Management. 


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