Profit Ideas for this week

Results for last week's watchlist

ACC: 4%

Varun Beverages: Continued

IEX: 4.6%

Titan Limited : 0%

Marico: 3.3.%

Aurobindo Pharma: -3% (stoploss)

The average return over the last 2 weeks was 1.78%.

Here's our watchlist for the week of April 24, 2023.

BULLISH STOCKS

Varun Beverages Limited

The stock's rigorous upmove was interrupted by a minor correction with constant support at its 13- and 34-day moving averages. Plus, the stock is getting oversold at higher levels, which means there is strength in the bullish uptrend.

Larsen and Toubro Limited

The stock has been in a steady upward trend, with both moving averages trading at roughly the same level up until April 5, when the stock experienced an intraday increase of 4%. Hence, we expect the trend to continue.

Hindustan Aeronautics Limited

The stock witnessed a gap-down opening on March 23rd to factor in the dividend of Rs. 20/share. Post that, heavy buying supported by volumes was seen as the stock recovered back to its previous levels. We believe this to be the starting point for another rally.

REC Limited

The stock has reached a major resistance level of 125 for the third time, but the RSI (blue indicator) has taken support on its moving average along with staying above 50, both signaling a break on the upside.

BEARISH STOCKS

Maruti Suzuki Limited

The stock has started a downtrend after a bearish crossover, with the indicators getting overbought on the minor retracements, suggesting diminishing upside momentum.

Shriram Transport Finance

The stock has seen a strong upside in the past few weeks, but the indicators have not been following the same trend. Hence, we expect the trend to reverse soon on account of divergences.

.

.

????????????????????

Investment recommendations made in Midas Touch Wealth Advisors are for information purposes only and derived from source that are deemed to be reliable but their accuracy and completeness are not guaranteed. Midas Touch Wealth Advisors does not accept any liability for the use of this column for the buying or selling of securities. Readers of this report who buy or sell securities are solely responsible for their actions. The author, his company or his acquaintance may / may not have positions in the scrip’s featured herein.