Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

AXISCADES Engineering Technical Analysis #59: Buy | Target Rs 75 | Arijit Banerjee

OUR RECOMMENDATION

CMP#65.65
IdeaBUY
Buy Range64 – 66.5
Target75 – 77
StopLoss*60
Duration6 – 8 Weeks
Potential Return^14 – 17%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
65.65BUY64 – 66.575 – 77606 – 8 Weeks14 – 17%

# CMP on June 06, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 70.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

AXISCADES Engineering Technologies Ltd is engaged in the business of product design, engineering and research solutions In Europe, America and Asia. It offers software and hardware development services for aerospace, defense, homeland security, automotive, heavy engineering, energy, healthcare and medical sector. AXISCADES standalone revenue from operations increased 17% to Rs 607.74 crore from Rs 519.16 crore in the last year.

Stock Data
NSE CodeAXISCADES
Sectoral IndexNIFTY IT
52W High135.8
52W Low43.75
Face Value10
Relative Performance_AXISCADES vs Nifty IT Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • After a consistent downtrend in the last 18 months, the stock price has shifted into a sharp upside bounce in last month. The recent development on the price front may indicate conclusion of the downtrend phase.
  • This long-term trendline breakout comes with a significant jump in volumes.
AXISCADES Weekly Chart
AXISCADES Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • On a daily chart, the stock has been trading with it’s upward rising trend line for the last four weeks and it seems that it could continue with its ongoing move.
  • Oscillator like ADX has been showing supportive strength.
AXISCADES Daily Chart
AXISCADES Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

Enjoy this recommendation?
Share with your friends
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email
Your return could be much more

PROFITABLE!

access our premium recommendations

Equity Advice

1 Month / 3 Months / 6 Months / 1 Year
3000 Per Month
  • at least 7-8 trades/ month
  • indian stocks + major index
  • short to medium term trade
  • ...and other exclusive benefits
Ultra
Subscribe With Us
Get free Trading tips and Investment advice

We respect your privacy.

You cannot copy content of this page