Rationale report – 18.01.2023

Recommended stocks on – 18.01.2023

(1)         BALKRISHNA IND. -

Ø Buy price : 2213

Ø Strong Support : 2174

Ø Resistance price : 2234 - 2240

Reasons for Buy Recommended –

While some indicators, such as short-term moving averages suggest bullish momentum.

Moving Averages: Short-term moving averages (5-day, 10-day, 20-day, and 50-day) suggest a bullish trend, as the stock is trading above these averages.

Recommended stocks on – 19.01.2023

(2)         KOTAK BANK -

Ø Buy price : 1773

Ø Strong Support : 1740

Ø Resistance price : 1788 - 1803

Reasons for Buy Recommended –

The prevailing technical indicators and consensus suggest a bullish short-term outlook for kotak Bank. kotak Bank's short-term outlook appears bullish.

Recommended stocks on – 16.01.2023

(3)         HDFC LTD -

Ø Buy price : 2609

Ø Strong Support : 2560

Ø Resistance price : 2633 – 2644 - 2650

Reasons for Buy Recommended –

The current technical indicators for HDFC Ltd. predominantly suggest a bullish outlook. The stock's position below key moving averages, indicates upward momentum. However, the RSI nearing oversold levels could imply a potential reversal if buying interest emerges.

Relative Strength Index (RSI): The 14-day RSI is at 32.58, approaching oversold territory, which could indicate a potential buying opportunity if the trend reverses.

Recommended stocks on – 16.01.2023

(4)         GRASIM -

Ø Buy price : 1660

Ø Strong Support : 1620

Ø Resistance price : 1677 – 1683 - 1690

Reasons for Buy Recommended –

A breakout above this level could signal a more significant bullish move.

Recommended stocks on – 16.01.2023

(5)         GODREJ PROP. -

Ø Buy price : 1230

Ø Strong Support : 1208

Ø Resistance price : 1247 – 1255 – 1264 – 1273 - 1280

Reasons for Buy Recommended –

Godrej Properties is a high-quality real estate stock, ideal for long-term investors looking for stable and consistent returns.

With a strong brand, growing urban demand, and well-planned expansions, GPL is a top pick in the real estate sector. One of the few real estate companies with a low debt-to-equity ratio.

Recommended stocks on – 16.01.2023

(6)         GODREJ PROP. -

Ø Buy price : 1255

Ø Strong Support : 1218

Ø Resistance price : 1273 - 1280

Reasons for Buy Recommended –

The stock is showing short-term bullish momentum.

The MACD line is slightly above the signal line, indicating a potential bullish trend.

Recommended stocks on – 10.01.2023

(7)         NIFTY -

Ø Buy price : 18080 & 18008

Ø Strong Support : 17939

Ø Resistance price : 18118 – 18131 - 18180

Reasons for Buy Recommended –

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