RajuDatla

RajuDatla

HINDALCO is breaking out from a 4-month long base and is making all time high on over 2 times average volume. Momentum as measured by RSI & DMI is strong to the upside, ADX has to catchup though. Its relative strength to CNX 500 turned positive after making higher low. On the fundamentals, over the last 4 quarters both sales and EPS have been growing. The number...

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On the weekly scale FLUOROCHEM is making a strong breakout from about 2-year long base, and is trading at its all-time high. Volumes over the last 2 weeks have been substantially high. RSI is trending higher in its bull zone, above 60, indicating strong upward momentum. Directional momentum (ADX, DMI) has turned up as the Plus-DI moved above 25, and the ADX line...

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ADFFOODS, on the weekly scale, has just broken out from a 1-year base resistance on strong volume and is trading at new high. This week its momentum (RSI) moved into bull-zone above 60 and is rising. Its relative performance to CNX 500 crossed above its 26-week MA, and started making Higher-Highs & Higher-Lows. AS the breakout is strong, we can see some...

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EVEREADY INDUSTRIES has just broken out from about 7-year base and the stock is trading at new heigh near the breakout level. If it sustains trading above 460 we can see some significant rally in the stock. On this monthly chart momentum is strong as indicated by RSI that is moving up above 60. Its relative performance to CNX 500 too has moved above its 12-month...

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On this monthly chart LUPIN just broke-out from about 9 and half years long base. It is now trading slightly above the breakout point. If it sustains above 2025 level, we can see some significant rally. The momentum is pretty strong as indicated by RSI that is rising above 60. Its relative performance to CNX 500 is strong and is rising above its 12-month MA....

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RBMINFRA is breaking out from a 7-month base taking the stock to trade at new heights. It is now trading very close to the breakout point (after breaching the resistance during the last week). If it starts trading above 745 we can see some good rally. On this weekly chart momentum is strong as indicated by RSI that is moving up above 60. Its relative performance...

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RML (RANE MADRAS) Made over a 6-year resistance breakout today on strong volume. Monthly vol is already higher than that of the last month. Its momentum (RSI), & relative performance to Nifty, both are strong. On this monthly chart RSI is strongly moving above 60, and the RS Line is rising above its 52-week MA. If the momentum sustains the stock can make some...

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STERLING TOOLS LTD. Made a 16-Month Stage-1 base breakout today on strong volume. The trigger appears to be the deal with S Korea’s Yongin Electronics for EV components facility in India. It made its footprint clear last week itself, though B/O did not happen. On this weekly chart RSI moved strongly above 60 for the first time after it went < 40 during mid-March...

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EVEREADYIND this week is making a strong breakout from 34-month range. Volumes have multiplied over the last 5 weeks indicating strong institutional support for the counter. Its momentum (RSI) is strongly in the bullish zone above 60 (80+ currently) and the relative performance to CNX-500 turned up and is above its 26-week average. However, on the flip side the...

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ZFSTEERING GEAR made a breakout from 2-month long bullish Head & Shoulders on good volume. Its momentum has entered bullish territory, and the Relative strength to CNX 500 is above the average line and rising. On the fundamental front its EPS and sales have been rising over the last 4 years. Also, over the last 4 quarters EPS has been rising, the last quarter was...

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Nifty IT Index is turning up into a possible Bull trend. The index has made its first higher-high and simultaneously its momentum (RSI) too has crossed up into its bull zone, above 60, both for the first time since Feb 2024. its relative performance to CNX 500 is still -ve though. After the breakout price has been consolidating within the 7th June bull bar. A...

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EMAMI is breaking out from a 9-year resistance, & a bullish Head & shoulder pattern on the monthly scale (chart attached). Its relative performance turned +ve, above its annual average. Volumes increased substantially over the last 3 months when the stock rallied about 65%. Its momentum (RSI) is now moving in the bullish zone, above 60. Fundamentally, EPS has been...

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ASHOKA is attempting to break out from over 6-year consolidation. Pl. check attached chart (Monthly scale). Its annual relative performance to CNX 500 has been +ve and rising since July 2023. Volumes have been significantly spiking towards the right edge of the chart since the beginning of rally in June 2023, & its momentum (RSI) has been travelling in the bull...

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BATAINDIA early signs of trend change to the upside (pl. check notes on chart). The fundamentals are not all that great as EPS growth has been negative over the last 4 quarters. So, purely a technical reading. No recommendation; only personal analysis.

RajuDatla Updated 

LUPIN is breaking out from over a 3-month tight consolidation on good volume. The daily RSI has moved into the bull zone above 60, & its relative performance to CNX 500 is positive and is making higher lows. Its monthly & weekly structure is bullish. On the fundamentals its EPS & sales have been rising for the last 5 quarters. If the breakout sustains, we can see...

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ZYDUSLIFE after an 82% rally, from Oct 2023 low to April 2024 high, without any significant pullback (greater than 8%) has been consolidating for the last 2 months that has now turned into a bullish Head & Shoulder pattern. The stock is attempting a breakout from this bullish pattern on about 2 times average volume. Momentum oscillator, RSI, too is indicating...

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HONEYWELL AUTO IND: on the monthly scale it is attempting a breakout from its over 3-year consolidation. Relative strength to CNX 500 started moving up (purple arrow) as volume too is rising over the last 6 months. Momentum indicator, RSI, is trading above 60 (bear resistance zone) first time after the consolidation low in May, 2022. Also, during the entire...

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LALPATHLAB has just broken out of its about 5-month long down-trendline. The moving averages have turned up and aligned for an uptrend. Its relative performance to CNX 500 has also turned into green as it trades above its 21 DMA. On the momentum its RSI broke above its squeeze – 54 to 57 – and entered the bull zone on April 12, 2024 but immediately pulled back for...