Tata Elxsi Brkout awaitedThe dly chart of Tata Elxsi shows a resis at 6099
A valid brkout abv it is likely to take the prices on the upside.
Can touch app 6600 - 6700
However is prices continue to move abv 6750.......it will likely carry on the upside.
The stock has been in bullish momentum and this brkout may prove to be yet another entry point for those who missed the previous bull run.
Trade as per price action.
Investmentidea
Advanced Enzymes - Technically PositiveAdvenzymes has taken a dip of about 40% from its all time high of 503.70 on 19/05/2021. However, fundamentals have not fallen to the comparable intensity.
Positive Triggers:
1. Positive RSI Divergence: 2 times positive RSI divergence within short period of time
2. Prices moving up after a healthy consolidation within same range for longer time
3. W Pattern is in formation
4. Handle, from the Cup and Handle Pattern, will be in formation if price move upwards. And, that pattern will be made over a pretty long period i.e., from October 2016.
Key Resistances:
1. 334
2. 350
3. 374
4. 415
Aegischem - Fundamental + Technical: Multiple Positive TriggersAegisChem has already gone through a healthy consolidation phase, and now, trajecting in a northward journey.
1. Positive RSI Divergences:
It gave two positive RSI divergences
2. W Pattern:
It seems to be making W Pattern. It is moving towards its trough area. Once, the trough is cleared, it will move upside with further more strength
3. Price Volume Action:
Last candle was a long and strong green body with a huge volume support, indicating long build-up
4. Key Resistances:
R1-244
R2-268
R3-284
5. Quarterly results and Half Yearly results are significantly more Y-O-Y Basis
6. OPM has grown remarkably about 6% each in both the Quarters on Y-O-Y Basis
Consider it a medium to long term study for higher gains
Disc.: I am not a SEBI Registered Investment Advisor. Study the stock by your own or in consultation with your financial advisor.
Technically strong - 2x return can givePros :
Technically good base created, and every raise volume also getting increased
Sales is improving on QoQ
Profit and ROE got improved
Debt is decreasing
Cons
Debt on Equity ratio is 3.8
Current Ratio below 1
Fundamentally neutral stock, but based on technical, it good candidate. Also in this sector many stocks are already outperforming
Note : Educational purpose not for buy/sell recommendations.