Rationale report – 22.05.2023

Recommended stocks on – 22.05.2023

(1)         BALKRISHNA IND. -

Ø Buy price : 2146

Ø Strong Support : 2116

Ø Resistance price : 2164 - 2170

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 – 19.05.2023

(2)         RELIANCE -

Ø Buy price : 2427

Ø Strong Support : 2415

Ø Resistance price : 2453 - 2460

Reasons for Buy Recommended –

While recent ratings and strong performance in the retail segment suggest a bullish outlook for Reliance Industries, investors should consider market volatility and broader economic factors.

Recommended stocks on – 18.05.2023

(3)         RELIANCE -

Ø Buy price : 2454

Ø Strong Support : 2418

Ø Resistance price : 2473 - 2480

Reasons for Buy Recommended –

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

Recommended stocks on – 18.05.2023

(4)         ACC -

Ø Buy price : 1760

Ø Strong Support : 1730

Ø Resistance price : 1784 – 1793 - 1808

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 – 12.05.2023

(5)         MUTHOOT FIN.-

Ø Buy price : 1070

Ø Strong Support : 1044

Ø Resistance price : 1088 – 1093 - 1103

Reasons for Buy Recommended –

while certain technical indicators suggest recent bullish candlestick patterns and strong financial performance have led to a positive outlook .

Recommended stocks on – 24.05.2023

(6)         INFOSYS -

Ø Buy price : 1267 & 1250

Ø Strong Support : 1244

Ø Resistance price : 1283 – 1290 - 1303

Reasons for Buy Recommended –

Infosys is a high-quality stock for long-term investors looking for stable growth, strong financials.

With global digitization accelerating, Infosys is set to benefit significantly over the next decade.

Strong Financials like High ROE, zero debt, strong cash flows, and consistent dividends.