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Shreyans Industries Ltd.

Shreyans Industries is trading at Rs150.30 and its 52 week high/low is Rs202.7/114.40. The stock formed its all-time high of Rs245 on 1/1/2018 to Rs114.40 on 1/2/2019 which is the 52 week lowest. On the course of this correction, the ADX, MACD, Parabolic SAR and Stochastic all indicated sell on weekly chart. At Rs114.40 the stock took support of the 50 month EMA and rebounded sharply to Rs150.30 in 17 sessions. The same indicators ADX, PSAR, MACD and Stochastic are all indicating a BUY on weekly chart. On the daily chart, the stock has crossed its 5, 10, 20, 50 and 200 Day Exponential Averages on higher daily volumes on 1/3/2019. All four indicators show a buy on daily chart as well. The long term trend indicator is positive as the super trend is indicating a buy on monthly chart. We recommend buying at Rs150.30 with targets of Rs180 and Rs202 achievable within 30 to 45 sessions with stop loss of Rs130.

Technical Recommendations 1

SML Isuzu Ltd.

SML Isuzu currently trades at Rs680.50. The 52 week high/low is Rs930/ 518 respectively. The stock formed its all-time high at Rs1670 on 01/04/2015 after which it has drifted over nearly the last four years correction to Rs518 which is the 52 week low formed on 1/2/2019 where the stock has taken support of the 200 month exponential moving and zoomed to Rs680 in the next 8 sessions. On the daily chart the stock has crossed its 5, 10, 20, 50 and 100 Day Exponential Averages on higher daily volumes on 1/3/2019. The ADX, MACD, Stochastic and super trend are indicating a BUY on daily and weekly charts. We recommend buying the stock at Rs680 and adding further on dip around its 100 EMA at Rs643 with targets of Rs764 and Rs898 achievable within the next 30 to 45 sessions with a stop loss of Rs600.

Technical Recommendations 2

– Sachin Shah

 

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