Here is Why Vinay Rajini Is Bullish On Exide Industries, Tata Motors DVR

nifty view

Nifty climbed for the sixth consecutive session on Tuesday and closed at 17,825. The positional pattern on Nifty is bullish because it has maintained greater high and better backside formation on the each day chart.

The following resistance for Nifty is seen at 18,114, which lies on the earlier swing high on the weekly chart.

Lengthy needs to be held on closing foundation with a trailing cease lack of 17,600.


Exide Industries

Purchase Vary: Rs 164.25 – Rs 159

Goal: Rs 178, Rs 190

Cease-loss: 156. Rupees

The inventory has damaged out of a downward sloping channel on the weekly line chart. The breakout is accompanied by rising volumes.

Indicators and oscillators on the weekly chart are bullish. The inventory is making up and down actions on the each day chart.


Tata Motors DVR

Purchase Vary: Rs 240.65 – Rs 234

Goal: Rs 254, Rs 263

Cease-loss: Rs 230

The inventory has crossed the essential double high resistance positioned at odd ranges of Rs.236. The inventory has additionally damaged out of the final 5 weeks of value consolidation together with a surge in volumes.

The inventory has been positioned above the all necessary transferring averages, indicating a bullish pattern throughout all time frames. The auto sector has been performing properly and is anticipated to proceed for the following few weeks.

(Vinay Rajani, Senior Technical and Derivatives Analysis Analyst at HDFC Securities. Views expressed are private).

Pricey reader,

Enterprise Customary has at all times labored arduous to offer up to date data and commentary on occasions which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how you can enhance our providing has additional strengthened our resolve and dedication to those beliefs. Even throughout these troublesome occasions arising out of COVID-19, we’re dedicated to preserving you knowledgeable and up to date with related information, authoritative views and sharp feedback on related related points.
Nevertheless, we have now a request.

As we grapple with the financial impression of the pandemic, we want your help much more in order that we will proceed to give you extra high quality content material. Our subscription mannequin has obtained an encouraging response from lots of you who’ve subscribed to our on-line content material. Subscribing to extra of our on-line content material can solely assist us obtain our objectives of offering you with higher and extra related content material. We imagine in unbiased, unbiased and credible journalism. Your help by way of extra subscriptions can assist us follow the journalism we’re dedicated to.

help high quality journalism and Subscribe to Enterprise Customary,

digital editor

Supply hyperlink