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Technical Calls: Buy Capital First and Exide Industries - IndiaNotes.com
Technical Calls: Buy Capital First and Exide Industries
SMC | Published: 11 Sep, 2017  | Source : IndiaNotes.com

Capital First:

 

The stock closed at Rs769.95 on 08th September 2017. It made a 52-week low at 465 on 22nd November 2016 and a 52-week high of 814 on 10th May 2017. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 680.


The stock has been trading in rising channel on weekly charts and maintaining its uptrend. Moreover, it has made a “Symmetrical Triangle” formation in Bull Run, which is traded as continuation pattern and this week closing suggests that there is more upside possibility in prices moving forward. Therefore, one can buy the stock in the range of 760-770 levels for the upside target of 850-860 levels with SL below 710.


Exide Industries:


The stock closed at 219.65 on 08th September 2017. It made a 52-week low at 168.45 on 15th November 2016 and a 52-week high of 250 on 11th May 2017. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 206.61


Stock has formed the “Bullish Flag” formation on weekly charts and given breakout above the falling trend line. This formation is traded as continuation pattern. The positive divergence in secondary indicators like RSI and stochastic are also supporting the next up move in coming sessions. Therefore, one can buy in the range of 215-220 levels for the upside target of 240-250 levels with SL below 205.

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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.