Rationale report – 06.01.2023

Recommended stocks on – 04.01.2023

(1)         NIFTY -

Ø Buy price : 18088

Ø Strong Support : 17939

Ø Resistance price : 18133 – 18180 - 18202

Reasons for Buy Recommended –

Some technical distribution pattern has been observed in the stock's price, indicating a potential medium-term bullish.

Recommended stocks on – 04.01.2023

(2)         GRASIM -

Ø Buy price : 1696

Ø Strong Support : 1677

Ø Resistance price : 1714 – 1722 - 1730

Reasons for Buy Recommended –

While technical indicators currently suggest a bullish trend.

Recommended stocks on – 04.01.2023

(3)         LARSEN -

Ø Buy price :  2070

Ø Strong Support : 2044

Ø Resistance price : 2088 – 2094 - 2104

Reasons for Buy Recommended –

The current technical indicators for LARSEN Ltd. predominantly suggest a bullish outlook.

Relative Strength Index (RSI): The 14-day RSI is at 73.98, indicating overbought conditions, which could suggest a potential price correction.

Recommended stocks on – 06.01.2023

(1)         NIFTY -

Ø Buy price : 17900

Ø Strong Support : 17737

Ø Resistance price : 17939 - 18008

Reasons for Buy Recommended –

Technical indicators suggest a bullish short-term trend.

Recommended stocks on – 06.01.2023

(2)         ACC -

Ø Buy price : 2410

Ø Strong Support : 2380

Ø Resistance price : 2437 – 2444 - 2450

Reasons for Buy Recommended –

Given the current bearish indicators and recent downward trend, ACC Limited may not be an ideal short-term buy at this moment. However, the oversold RSI indicates a potential for a short-term rebound.

Recommended stocks on – 04.01.2023

(3)         ACC -

Ø Buy price : 2444

Ø Strong Support : 2410

Ø Resistance price : 2467 – 2474 - 2480

Reasons for Buy Recommended –

ACC Ltd. is a high-quality cement stock that will benefit from India’s long-term infrastructure and housing growth. With Adani Group backing, strong demand, and improving margins, ACC is a solid long-term investment.

Recommended stocks on – 04.01.2023

(4)         LARSEN -

Ø Buy price :  2070

Ø Strong Support : 2044

Ø Resistance price : 2088 – 2094 - 2104

Reasons for Buy Recommended –

The current technical indicators for LARSEN Ltd. predominantly suggest a bullish outlook.

Relative Strength Index (RSI): The 14-day RSI is at 73.98, indicating overbought conditions, which could suggest a potential price correction.