Stocks on which have tech charts have buy signals
The domestic equity market ended on a terrific note on Friday, with headline indices Sensex and Nifty scaling fresh lifetime highs on a closing basis. The S&P BSE Sensex rose 112 points to settle at 33,686 while NSE’s Nifty50 climbed 29 points to close at 10,453.
Bayer Cropscience | BUY | TARGET PRICE: 4,100
After marking highs near 5000-mark, the stock has been under gross corrective decline. It has seen some accumulation in the 3700-3820 zones. An Engulfing Bullish Candle has emerged near the 20-DMA support area.
The Daily MACD is in continuing buy mode. RSI has marked a higher bottom and has also marked a fresh 14-period high which is bullish. The 59.82% narrower-than-normal Bollinger bands also increase the possibility of a sharp move in price. A trend reversal is likely over coming days.
Zee Learn | BUY | TARGET PRICE: Rs 52
The stock has remained in a corrective decline in form of falling channel for major part of this year. A broad accumulation was seen in the 42-44 range and the stock attempted to reverse the trend by moving out of the falling channel.
A minor corrective decline has taken place again. Stock appears to have taken strong support around its 200-DMA level. While the stock corrected, the On Balance Volume – OBV did not decline and this is a bullish sign. Lead indicators are neutral and the stock remains deeply oversold on Daily Stochastic. Upward revision of prices can be expected over coming days.
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