Cipla, Tata Chemicals among 9 stocks flashing BUY signals on tech charts

Cipla had given a breakout from its crucial resistance of Rs 1,000-1,005 a couple of weeks ago. After the run-up, the stock saw a pullback, wherein it formed support at its 20 DEMA which coincides with the previous breakout zone. Usually, the earlier resistances turn into support as per the role reversal technique in Technical Analysis. Hence, we are positive on this stock and expect an up move in the near term. Thus, short term traders can look to buy the stock in the range of Rs 1,040-1,030 with a stop loss placed below Rs 995 for a potential target of Rs 1,118 in the next 2-3 weeks.


(Ruchit Jain, Lead Research, 5paisa.com)

The stock had recently given a breakout above its hurdle of Rs 1,210 with good volumes and post an up move, prices are consolidating in a range since last few days. The price breakout was supported by high volumes while the volume on price correction was low, which is a positive sign. The RSI oscillator is indicating a positive momentum and hence, we expect the stock to resume its uptrend soon. The previous breakout zone is now expected to act as a support on any declines and traders should form a strategy to buy the stock at current levels and to add on any dip towards the support. Traders can look to trade with a positive bias and buy at the current price and add on dips at Rs 1,240. One can place a stop loss below Rs 1,190 on long positions for potential targets of Rs 1,360 and Rs 1,420 in the next 3-4 weeks.


(Ruchit Jain, Lead Research, 5paisa.com)

The stock has been trading with positive momentum. We have seen that the stock has also reversed from the support levels of 200-EMA, the analyst said. MACD and RSI are indicating that the positive momentum will continue in the stock. Traders can buy above Rs 990 with a target of Rs 1,150 and a stop loss of Rs 840.


(Vijay Dhanotiya, Lead of Technical Research, CapitalVia Global Research)

GSFC has given a breakout of all-time high and has picked up momentum after reversal from the support of 200 EMA. RSI and MACD are indicating positive momentum in the market. Traders can buy the stock above Rs 165 with a target of Rs 220 and a stop loss of Rs 120.


(Vijay Dhanotiya, Lead of Technical Research, CapitalVia Global Research)

The stock has reversed after testing the previous support levels and it has also taken the support levels of 200-EMA. MACD and RSI are indicating the positive momentum to continue in the stock. One can look to buy above Rs 255 with a target of Rs 350 and a stop loss of Rs 185.


(Vijay Dhanotiya, Lead of Technical Research, CapitalVia Global Research)

The stock price as per the weekly timeframe chart is in a formation of rounding bottom type pattern and making an attempt of upside breakout around Rs 135-138 levels. The overall chart pattern signals the formation of an important bottom reversal for the stock price at Rs 121. Positive divergence is observed in the stock price. The weekly RSI suggests further strengthening of upside momentum for the stock price ahead. Buying can be initiated in Sequent at CMP, one can add more on dips down to Rs 127, and wait for the upside target of Rs 146 in the next 3-4 weeks. Place a stoploss of Rs 123.


(Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

The stock price has moved up decisively above the hurdle of the downsloping trend line of Rs 81 and closed higher. The volume has expanded sharply with an upside breakout in the stock price and the weekly 14-period RSI shows a positive indication. One may look to buy RCF at CMP, add more on dips down to Rs 88 and wait for the upside target of Rs 104 in the next 3-4 weeks. Place a stoploss of Rs 85.

(Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

Ipca Labs is breaking out of a falling trendline which is the first sign of a major change in trend. Price action in IPCA shows that on the higher time frame, that is weekly, price is emerging out of an oversold reading of below 40. The support at Rs 920-950 holds and the price is emerging out of a basing pattern. Conditions are right for a major change in trend and higher levels in the days to come. Buy for a rally to Rs 1,170 and above that to Rs 1,300 over the next 6-8 weeks. Keep a stop below Rs 960.

(Manish Shah, Founder, Niftytriggers.com)

Price action suggests completion of corrective decline from the high of February and recommencement of trending price action. Price has moved up slowly in the last two weeks suggesting active buying interest. Metals stocks are in a strong uptrend and ferrous metal stocks could now be attracting buying interest. JSL Hisar is breaking out of a small ascending triangle pattern which could signal a bullish trend continuation trade. Buy for a rally to Rs 410 and above that to Rs 440. Keep a stop below Rs 330 and hold for 6-8 weeks.


(Manish Shah, Founder, Niftytriggers.com)