Technical stock recommendation on TATA ELEXI, ZENSARTECH, HAVELLS FROM VENTURA

The stock attracted buying interest at lower levels, commenced its up move & recently, after forming higher bottoms, the stock has given a Falling Wedge – Reversal Breakout on the weekly chart supported by volumes with a bullish candle reaching to a high of 3429 (OCT 26), which is higher than the previous few sessions high. Stoch RSI & Williams %R indicators suggest Positive crossover. This breakout indicates improving buying momentum and a potential shift in the short-term trend. Target of 4250 is expected with lower support levels at (3330-3260)-3210-(3140-3080) in case of intermediate fall. A stop loss at 2996 is to be followed for the trade.

The stock commenced its downtrend from 5950 (JAN 26). Stock started trading below its key moving averages, indicating weakness in the prevailing trend. Thereafter, the stock continued to form lower lows, extending its decline to mark a low of 2996 (OCT 26). During the correction phase, the stock traded within a descending channel, consolidating in a narrow range between 4542.8 – 2996 (JUN 26_OCT 26).

Again, buying interest emerged at lower levels leading to a gradual recovery & recently, after forming higher bottoms, the stock has given a Descending Channel Breakout on the weekly chart supported by volumes with a bullish candle reaching to a high of 481.65 (OCT 26), which is higher than the previous swing tops. Indicators like MACD, TSI & Stoch RSI suggests positive crossover. Target of 585 is expected with lower support levels at (466-451-436) in case of intermediate fall. A stop loss at 423 is to be followed for the trade.

The stock commenced its downtrend from 868.95 (SEP 25). Stock started trading below the averages forming lower tops & breached 200 SMA line. Thereafter, the stock extended its decline & reached to mark a low of 423 (JUN 26). Later, buying emerged & the stock commenced its up move & rallied to mark a high of 558 (JUL 26), but faced selling pressure near 200 SMA & the stock entered into a consolidation zone during the period (JUN 26_OCT 26), trading around the averages seeking trend direction.

Again, buying interest emerged at lower levels leading to a gradual recovery & recently, after forming higher bottoms, the stock has given a Descending Channel Breakout on the daily chart supported by volumes with a bullish candle reaching to a high of 1082 (OCT 26), which is higher than the previous swing tops of 1072.4. Indicators like MACD, TSI & Stoch RSI suggests positive crossover. Target of 1210 is expected with lower support levels at (1065-1046-1028) in case of intermediate fall. A stop loss at 1015 is to be followed for the trade.

The stock commenced its downtrend from 1299.1 (AUG 26). Down Gaps were formed during the correction phase. Thereafter, the stock started trading below the averages & forming lower lows reached a low of 1015.1 (SEP 26). Later, buying emerged & the stock commenced its up move & rallied to mark a high of 1072.4 (OCT 26), but faced in that area & witnessed a minor corre

Recommendation from Bharat K Gala – Head of Technical – Ventura

(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing)

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