According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, the
Swiggy โ Bullish Engulfing + RSI Bullish Divergence
Buy near: โน406โโน400; Stop Loss: โน377; Target: โน440 Time Frame: 90 Days
Swiggy has formed a bullish engulfing pattern on the daily timeframe, signalling a shift in momentum. This is further supported by a bullish RSI divergence, indicating weakening downside pressure and improving buying interest. The latest close is also the highest in the last nine sessions, adding conviction to the emerging positive trend.With these indicators aligning, Swiggy offers a favourable setup for an upside move toward โน440, with long entries preferred in the โน406โโน400 zone.
VEDL โ RSI Bearish Divergence + Trendline Breakdown
Sell near: โน500โโน495; Stop Loss: โน521; Target: โน460; Time Frame: 90 Days
Vedanta (VEDL) is displaying early signs of momentum weakness, highlighted by a bearish RSI divergence near the previous key highs of December 2024. This indicates that price is rising without proportionate underlying strength. A breakdown of a crucial trendline adds to the negative structure, signalling a potential medium-term trend reversal.Given this confluence of weakness, short positions can be considered in the โน500โโน495 zone for a potential move toward โน460.
Bajaj Auto โ Base Above 50-EMA + RSI Trendline Breakout
Buy near: โน9030โโน8980; Stop Loss: โน8750; Target: โน9400; Time Frame: 90 Days
Bajaj Auto has carved out a strong base within the โน8850โโน9000 zone, supported by steady consolidation and persistent accumulation at lower levels. This base formation right above the 50-day EMA reinforces the underlying strength. A bullish breakout on the daily RSI trendline further confirms improving momentum and enhances the probability of a sustained up move.With both structure and momentum turning favourable, long positions can be considered in the โน9030โโน8980 range for an upside target of โน9400.
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