Rationale report - 30.04.2024

Recommended stocks on – 30.04.2024

(1)  BALKRISHNA IND. -

Ø Buy price : 2398 & 2375

Ø Strong Support : 2360

Ø Resistance price : 2390 – 2404 – 2418 - 2420

   Reasons for Buy Recommended –

Chart signals a bullish trend, it suggests the potential for an upward movement in the short term. 

Recommended stocks on – 07.05.2024

(2)  RELIANCE -

Ø Buy price : 2960 & 2929

Ø Strong Support : 2909

Ø Resistance price : 2953 – 2960 - 2974 - 2990

   Reasons for Buy Recommended –

Futures data shows a increase in futures price accompanied by an increase in open interest, suggesting potential positive price movement in the coming days.

Rationale report - 29.04.2024

Recommended stocks on – 29.04.2024

(1)  BALKRISHNA IND. -

Ø Buy price : 2398 & 2375

Ø Strong Support : 2360

Ø Resistance price : 2390 – 2404 – 2418 - 2420

   Reasons for Buy Recommended –

Chart signals a bullish trend, it suggests the potential for an upward movement in the short term. 

 

Recommended stocks on – 29.04.2024

(2)  RELIANCE -

Ø Buy price : 2929

Ø Strong Support : 2909

Ø Resistance price : 2953 – 2960 - 2974 - 2990

   Reasons for Buy Recommended –

Futures data shows a increase in futures price accompanied by an increase in open interest, suggesting potential positive price movement in the coming days.

Recommended stocks on – 12.04.2024

(3)  ICICI BANK -

Ø Buy price : 1105 & 1080

Ø Strong Support : 1050

Ø Resistance price : 1094 – 1120 – 1133 - 1140

   Reasons for Buy Recommended –

ICICI Bank has consistently grown its loan book, driven by a healthy mix of retail and corporate lending.Improving asset quality and declining Non-Performing Assets (NPAs) reflect effective risk management.

ICICI Bank is one of the largest private sector banks in India, with a strong presence across urban and rural markets.The bank is well-capitalized to support future growth.

Rationale report - 26.04.2024

Recommended stocks on – 25.04.2024

(1)  RAMCO CEMENT -

Ø Buy price : 787

Ø Strong Support : 767

Ø Resistance price : 808 - 818

   Reasons for Buy Recommended –

The company has historically maintained healthy EBITDA margins, reflecting its operational efficiency and pricing power in key markets.

The Indian government's increased focus on infrastructure development through projects like Bharatmala, Sagarmala, and the Smart Cities Mission will drive demand for cement.Public spending on roads, highways, and metro rail systems directly benefits companies like Ramco.

Government programs like Pradhan Mantri Awas Yojana (PMAY) provide a steady demand for cement in rural and semi-urban areas.

Recommended stocks on – 22.04.2024

(2)  BALKRISHNA IND. -

Ø Buy price : 2347

Ø Strong Support : 2308

Ø Resistance price : 2374 – 2388 - 2400

   Reasons for Buy Recommended –

Chart signals a bullish trend, it suggests the potential for an upward movement in the short term. 

 

Recommended stocks on – 09.04.2024

(3)  ACC -

Ø Buy price : 2580 & 2530

Ø Strong Support : 2508

Ø Resistance price : 2560 – 2588 - 2606 - 2620

   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.

Rationale report - 25.04.2024

Recommended stocks on – 25.04.2024

(1)  KOTAK BANK -

Ø Buy price : 1600

Ø Strong Support :  1580

Ø Resistance price : 1677 – 1684 -1690

Reasons for Buy Recommended –

     A bullish sentiment for Kotak Mahindra Bank can stem from several factors, such as its strong fundamentals, consistent performance in the banking sector, innovative financial services, and growth in India's economy.

     Strong Fundamentals - Kotak Mahindra Bank has a robust capital adequacy ratio (CAR), often exceeding regulatory requirements.Low Non-Performing Assets (NPAs) compared to peers, indicating effective risk management. Strong retail and corporate loan portfolio diversification reduces risk.

Recommended stocks on – 23.04.2024

(2)  RELIANCE -

Ø Buy price : 2929

Ø Strong Support : 2909

Ø Resistance price : 2953 – 2960 - 2974 - 2990

   Reasons for Buy Recommended –

While technical indicators currently suggest a bullish trend.

Recommended stocks on – 22.04.2024

(3)  BALKRISHNA IND. -

Ø Buy price : 2347

Ø Strong Support : 2308

Ø Resistance price : 2374 – 2388 - 2400

   Reasons for Buy Recommended –

Technical analysis indicates a neutral positive outlook with a target price above current levels.

 

Recommended stocks on – 12.04.2024

(3)  ICICI BANK -

Ø Buy price : 1105 & 1080

Ø Strong Support : 1050

Ø Resistance price : 1094 – 1120 – 1133 - 1140

   Reasons for Buy Recommended –

ICICI Bank has consistently grown its loan book, driven by a healthy mix of retail and corporate lending.Improving asset quality and declining Non-Performing Assets (NPAs) reflect effective risk management.

ICICI Bank is one of the largest private sector banks in India, with a strong presence across urban and rural markets.The bank is well-capitalized to support future growth.

Recommended stocks on – 09.04.2024

(4)  ACC -

Ø Buy price : 2580 & 2530

Ø Strong Support : 2508

Ø Resistance price : 2560 – 2588 - 2606 - 2620

   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 – 02.04.2024

 (5)  SBI LIFE -

Ø Buy price : 757

Ø Strong Support : 707

Ø Resistance price : 777 – 784 -790 - 800

   Recommended stocks on – 02.04.2024

 (6)  SBI LIFE -

Ø Buy price : 760

Ø Strong Support : 744

Ø Resistance price : 773 – 780 – 788 – 794 -800

   Reasons for Buy Recommended –

Low penetration levels and increasing awareness of insurance products provide immense  growth potential.

Backed by SBI’s brand and distribution network, SBI Life has a competitive edge in the market.

Strong new business premium (NBP) growth and rising embedded value reflect a steady growth trajectory.

Rationale report - 24.04.2024

Recommended stocks on – 12.04.2024

(1)  ICICI BANK -

Ø Buy price : 1080

Ø Strong Support : 1050

Ø Resistance price : 1097 – 1103

   Reasons for Buy Recommended –

ICICI Bank has consistently grown its loan book, driven by a healthy mix of retail and corporate lending. Improving asset quality and declining Non-Performing Assets (NPAs) reflect effective risk management.

ICICI Bank is one of the largest private sector banks in India, with a strong presence across urban and rural markets.The bank is well-capitalized to support future growth.

Recommended stocks on – 09.04.2024

(2)  ACC -

Ø Buy price : 2580 & 2530

Ø Strong Support : 2508

Ø Resistance price : 2560 – 2588 - 2606 - 2620

   Reasons for Buy Recommended –

Technical analysis indicates a neutral positive outlook with a target price above current levels.

Rationale report - 23.04.2024

Recommended stocks on – 23.04.2024

(1)  RAMCO CEMENT -

Ø Buy price : 787

Ø Strong Support : 767

Ø Resistance price : 808 - 818

   Reasons for Buy Recommended –

The company has historically maintained healthy EBITDA margins, reflecting its operational efficiency and pricing power in key markets.

The Indian government's increased focus on infrastructure development through projects like Bharatmala, Sagarmala, and the Smart Cities Mission will drive demand for cement.Public spending on roads, highways, and metro rail systems directly benefits companies like Ramco.

Government programs like Pradhan Mantri Awas Yojana (PMAY) provide a steady demand for cement in rural and semi-urban areas.

Recommended stocks on – 12.04.2024

(2)  ICICI BANK -

Ø Buy price : 1080

Ø Strong Support : 1050

Ø Resistance price : 1097 – 1103

   Reasons for Buy Recommended –

ICICI Bank has consistently grown its loan book, driven by a healthy mix of retail and corporate lending. Improving asset quality and declining Non-Performing Assets (NPAs) reflect effective risk management.

ICICI Bank is one of the largest private sector banks in India, with a strong presence across urban and rural markets.The bank is well-capitalized to support future growth.

Recommended stocks on – 04.04.2024

(2)  GRASIM -

Ø Buy price : 2308 & 2308

Ø Strong Support : 2250

Ø Resistance price : 2290 – 2303 – 2333 - 2350

   Reasons for Buy Recommended –

Grasim maintains a healthy balance sheet with prudent capital allocation strategies. Cash flow generation from core businesses ensures the ability to fund growth initiatives.

Grasim has a history of rewarding shareholders with consistent dividends, adding to its long-term attractiveness.