Company Overview: Gland Pharma Limited (NSI: GLAND) is a generic injectable-focused company engaged in the sterile injectables, oncology, and ophthalmology segments. Alok Industries Limited (NSI: ALOKINDS) is an integrated textile company. Bajaj Hindusthan Sugar Limited (NSI: BAJAJHIND) is a sugar and ethanol manufacturing company. HLV Limited (NSI: HLVLTD) is an India-based holding company that is engaged in the business of owning, operating and managing hotels, palaces and resorts.

Gland Pharma Limited’s Technical Observation: The stock prices have been sustaining above a falling trendline breakout level for the past couple of weeks and recently broke a crucial resistance level of INR 1768, indicating a positive momentum. The leading indicator RSI (14-period) is moving northward with a reading of 67.83, and the 21-period SMA and 50-period SMA are below the current market price, further supporting a positive bias. The important resistance level for the stock is INR 1900, followed by INR 2040, and on the lower side, INR 1520 may act as a crucial support level.

Alok Industries Limited’s Technical Observation: The stock prices have been sustaining above a falling trendline breakout level for the past couple of weeks and recently broke a crucial resistance level of INR 19.30 with the support of volumes. The leading indicator RSI (14-period) is moving northward with a reading of 70.41, and the 21-period SMA and 50-period SMA are below the current market price, further supporting a positive bias. The important resistance level for the stock is INR 21.70, followed by INR 22.40, and on the lower side, INR 17.30 may act as a crucial support level.

Bajaj Hindusthan Sugar Limited’s Technical Observation: The stock prices are witnessing a sharp upside movement after the breakout of a falling trendline and recently broke a crucial resistance level of INR 25.35 with the support of volumes. The leading indicator RSI (14-period) is moving northward with a reading of 76.27, and the 21-period SMA and 50-period SMA are below the current market price, further supporting a positive bias. The important resistance level for the stock is INR 27.00, followed by INR 28.00, and on the lower side, INR 22.00 may act as a crucial support level.

HLV Limited’s Technical Observation: The stock prices recently broke a crucial resistance level of INR 15.85 with the support of volumes, indicating a positive momentum buildup in the stock prices. The leading indicator RSI (14-period) is moving northward with a reading of 78.59, and the 21-period SMA and 50-period SMA are below the current market price, further supporting a positive bias. The important resistance level for the stock is INR 20.00, followed by INR 21.00, and on the lower side, INR 15.85 may act as a crucial support level.

How to Read the Charts?

The Green colour line reflects the 20-period moving average, while the red line indicates the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period and 50-period moving averages, 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 the strength of the price trend. A reading above 50 indicates a positive momentum, while below 50 indicates a negative momentum. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

The Red and Green 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 volumes, and higher 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 are used for trend identification purposes. The trend lines also act as a line of support and resistance.

Abbreviations
CMP: Current Market Price
SMA: Simple Moving Average
RSI: Relative Strength Index
INR: Indian Rupee

Note: Trading decisions require a thorough analysis by individuals. The technical analysis articles generally chart out metrics that individuals may assess 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.

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