Broking firm Marwadi Shares & Finance (MSFL) has recommended following five technical calls for this week (Nov 22-26):
1. ICICI Bank
Current Market Price (CMP) - Rs 356
A white candle followed by Doji morning star pattern on daily chart indicates strength. Short term DEMAs have given positive crossover. On the oscillator Front: RSI and stochastic are in favor of bull. We recommend to buy with stop loss.
2. DLF
Current Market Price (CMP) - Rs 132
A bunch of black candle in lower top lower bottom formation on daily chart indicates bears are in the game. It is performing below all moving averages and short term DEMAs have given negative crossover. RSI and stochastic oscillator are in favor of bear. We therefore recommend to sell on rise.
3. HCL Technologies
Current Market Price (CMP) - Rs 1,589
The stock has formed strong bullish candle with good amount of volume on daily chart. Additionally, Moring star kind of formation on weekly chart support positive stance. RSI and stochastic oscillator are in favor of bull. We recommend to buy with stop loss.
4. L&T
Current Market Price (CMP) - Rs 1,535
A white candle followed by morning star pattern indicates strength in the counter. Additionally, it has strong support of 200 DEMA near to 1450 on daily chart. Selected momentum indicators RSI and stochastic oscillator have given positive crossover. Buy with stop loss of 1450.
5. Reliance Infra
Current Market Price (CMP) - Rs 492.75
A kind of ''Engulfing bearish'' formation on daily chart and three black crows on weekly chart indicates that bears are in game. The stock trading below all moving averages and Facing strong resistance of short term DEMAs. However momentum indicators are trading in oversold territory. Therefore, sell on rally.