Poly Medicure Limited (POLYMED): The consolidation breakout has tripled the stock price, as per the monthly chart. Although this move may see some profit-booking, until the stocks holds the support of Rs 720 levels, the profit booking may see a reversal towards the uncharted territory of Rs 1,000 and Rs 1,200 levels. The stock price is continuously witnessing buying momentum in the overbought territory of Relative Strength Index (RSI), reflecting the inherent strength. CLICK HERE FOR THE CHART
Mastek Limited (MASTEK): A sharp upside propelled this stock to rise over seven-fold from the lows of Rs 175 within the last one year. This extraordinary move is the result of the 15-year consolidation breakout, as per the yearly charts. Now, as the counter scales Rs 1,400 levels, the weekly chart is showing profit booking and selling pressure. The upside bias is intact, until the counter upholds the support of Rs 1,100 levels. Only a decisive breakdown may dampen the upside bias. Going forward, if the counter conquers Rs 1,400 levels, then the stock price may see further upside towards Rs 1,700 and Rs 2,000 mark. CLICK HERE FOR THE CHART
Coforge Ltd (COFORGE): The counter has claimed a new all-time high of Rs 2,968 mark. This illustrates the upside strength that is expected to show further rise in coming sessions. A decisive stability above Rs 2,800 indicates a resistance breakout, as per the weekly chart. Although, the RSI shows a bearish divergence, the stock price is not showing any weakness. Unless a confirmed breach emerges below the support of Rs 2,800-mark, the upside breakout is expected to scale Rs 3,200 to Rs 3,500 levels. CLICK HERE FOR THE CHART
ADF Foods Limited (ADFFOODS): After a successful gap-up close above Rs 420 levels, this counter has rallied towards Rs 900 levels without experiencing any major selling pressure, as per the weekly chart. This enormous surge has seen firm buying momentum in the overbought category of RSI, suggesting that the strength in the stock price may be able to breach any hurdle. That said, one can expect profit booking; however, a sharp decline may not emerge considering the strength in the stock. The immediate support comes at Rs 800 levels and the counter is suggesting an upside bias towards the Rs 1,200 mark. CLICK HERE FOR THE CHART
Neuland Laboratories Limited (NEULANDLAB): After claiming a new all-time of Rs 1,727 levels, this stock has witnessed a sharp upside towards Rs 2,350 mark. The current price scenario indicates a consolidation in the range of Rs 2,200 to Rs 1,900 levels and any breach of this range may determine the next course of trend. The volumes have been showing the long bias, as per the weekly chart. One can expect a move of nearly 300 points on the breakout from this range. CLICK HERE FOR THE CHART
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