Company Overview:

Page Industries Ltd. (NSI: PAGEIND) engages in the manufacturing, distribution, and marketing of innerwear, leisurewear, sportswear, and swimwear for men, women, and kids. Greenply Industries Ltd. (NSI: GREENPLY) engages in the manufacture and trade of plywood and its allied products. SRF Ltd. (NSI: SRF) engages in the manufacture of chemical based industrial intermediates.

Page Industries: (NSI: PAGEIND)’s Technical observation

Stock is corrected from its recent top of 42850 Levels and now taken support near INR 36400 levels, which is near our Support 1 – INR 36350. Also, the Stock is trading above our Lower Trendline. Stock CMP – INR 36843, trading near its 21 Period SMA and 50 Period SMA levels. RSI (14-period) 54.99, is also showing positive trend.

Important Resistance Levels to watch out INR 41432 and INR 43370 and crucial Support 1 at INR 36350 and Support 2 at INR 34050 levels.

Source: REFINITIV; Analysis: Kalkine Group

Greenply Industries (NSI:GREENPLY) ’s Technical observation

Stock has given positive momentum on the daily chart taken support at 200 levels and trading with upward momentum. Currently trading at INR 221. On chart RSI (14-period) 78.58, 21 Period SMA and 50 Period SMA levels also supporting chart price. Important Resistance levels to watch out at INR 254 and INR 269 and Support Levels at INR 199 and INR 184.

Source: REFINITIV; Analysis: Kalkine Group

SRF Ltd (NSI:SRF) ’s Technical observation

 Stock has trading with a positive momentum on the daily chart and taken support at INR 2360 levels and currently trading at INR 2423. On chart RSI (14-period) 57.90, 21 Period SMA and 50 Period SMA levels also supporting chart price movement. Important Resistance levels to watch out at INR 2672 and INR 2768 and Supports Levels at INR 2260 and INR 2159.

Source: REFINITIV; Analysis: Kalkine Group

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: How to Read the Charts?

The Green colour line reflects the 21-period moving average while the red line indicates the 50- period moving average. SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

The reference date for all price data, currency, technical indicators, support, and resistance levels is December 19, 2023. The reference data in this article has been partly sourced from REFINITIV.

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

INR: Indian Rupee

RSI: Relative Strength Index 

Note: Trading decisions require a thorough analysis by individuals. Technical reports in general chart out metrics that may be assessed by individuals before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.

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