Friday, May 19, 2023

Rationale report – 16.05.2023

Recommended stocks on – 15.05.2023

(1)         INDIGO -

Ø Buy price : 2244

Ø Strong Support : 2188

Ø Resistance price : 2273 - 2280

Reasons for Buy Recommended –

Recent indicate a shift from mildly bearish to mildly bullish trends, with the stock significantly outperforming the Sensex over the past year.

Recommended stocks on – 12.05.2023

(2)         BALKRISHNA IND. -

Ø Buy price : 2212

Ø Strong Support : 2180

Ø Resistance price : 2238 – 2244 - 2250

Reasons for Buy Recommended –

Over the past three years, Balkrishna Industries has achieved an annual earnings per share (EPS) growth rate of 15%, closely aligning with its 16% average annual share price increase. This parallel growth indicates stable investor sentiment and consistent performance.

While Balkrishna Industries demonstrates robust financial health and consistent growth, with some projecting modest gains and others suggesting potential bullish.

Recommended stocks on – 11.05.2023

(3)         HDFC LTD -

Ø Buy price : 2730

Ø Strong Support : 2670

Ø Resistance price : 2763 - 2770

Reasons for Buy Recommended –

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


 

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