Rationale report – 13.01.2023

Recommended stocks on – 13.01.2023

(1)         LARSEN -

Ø Buy price :  2144

Ø Strong Support : 1208

Ø Resistance price : 2163 - 2170

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 – 13.01.2023

(2)         GRASIM -

Ø Buy price : 1650

Ø Strong Support : 1630

Ø Resistance price : 1673 - 1680

Reasons for Buy Recommended –

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

Recommended stocks on – 10.01.2023

(3)         BALKRISHNA IND. -

Ø Buy price : 2180

Ø Strong Support : 2170

Ø Resistance price : 2208 – 2220 – 2233 - 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 – 10.01.2023

(4)         BALKRISHNA IND. -

Ø Buy price : 2208

Ø Strong Support : 2170

Ø Resistance price : 2233 - 2240

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

(5)         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.