MindTree Ltd
CMP: 465| RECO: BUY| TARGET: 495-505| STOP LOSS: 439
MindTree reversed after forming a Double Bottom pattern around Rs 440 and rose to 2-week high.
Positive cross-over in RSI and MACD is signaling that the stock is on a verge turnaround and will soon resume its up-trend.
On the higher side, the stock will face major hurdle around its long-term moving average 50-DEMA and then at the falling trend line.
In case of any decline, recent swing low will save the stock from falling further.
Long position can be initiated here and on dips for a target of Rs495-505 with a stop loss of Rs439.
Lupin Ltd
CMP: 1,010| RECO: BUY| TARGET: 1,120| STOP LOSS: 949
The stock has formed a double bottom pattern at Rs920 and later rose to 7-week closing high.
The key technical indicator-RSI has also reversed from the lower levels and signaling that the stock is poised for a breakout.
On the higher side, the stock will face major hurdle around Rs1,120, which is coinciding with its long-term moving average 100-DSMA.
In case of any decline, current month’s low will work as key reversal point for the stock (placed at around Rs960).
Long position can be initiated here and on dips for a target of Rs1,120 with a stop loss of Rs 960.
UPL Ltd
CMP: 828| RECO: BUY| TARGET: 930| STOP LOSS: 790
UPL is on the verge of break-out from the Symmetrical Triangle Pattern.
Positive cross-over in RSI and MACD is also signaling strength in the stock and in favor of break-out.
On the higher side, the stock will face major hurdle around Rs930, which is coinciding with prior high connecting rising trend line.
In case of any decline, August month’s low will work as key reversal point for the stock (placed at around Rs790).
Long position can be initiated here and on dips for a target of Rs930 with a stop loss of Rs790.
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