Weekly Picks 18th November 2024

1. SYRMA LTP 547.5

  For over 40 years, Syrma SGS has been driven by a core purpose – to enable transformative technology that improves lives and businesses worldwide. The Company’s global network spans more than 25 countries, delivering cutting-edge technology, supply-chain leadership, and EMS solutions across a wide range of industries.  

(Source: Moneycontrol, BSE, Fisdom Research)

• SYRMA has given a consolidation pattern breakout on the monthly chart and prices are sustaining above the upper band of the pattern.
• Stock has shown above-average volumes at breakout indicating a confirmed breakout.
• Momentum Indicator RSI (14) has given a horizontal trend line breakout above 50 levels with a bullish crossover.
• Stock has been trading above 10, 21, and 50 EMA with a bullish golden cross on the weekly chart maintaining the bullish momentum.
• The MACD indicator has given a bullish crossover below its polarity levels signs for an early reversal signal

2. DCMSHRIRAM LTP 1308.9

  DCM Shriram Industries Ltd. (DSIL) is an Indian company that produces and sells a range of products including sugar, chemicals, and industrial fibers. DSIL is a spin-off of the Delhi Cloth & General Mills Company Limited (DCM), which was founded in 1889. DSIL began operations in 1990.  

• DCM SHRIRAM has given an inverted head and shoulder pattern breakout on the weekly chart and prices are sustaining above the upper band of the pattern.
• Stock has shown above-average volumes at breakout indicating a confirmed breakout.
• Momentum Indicator RSI (14) has given a trend line breakout above 60 levels with a bullish crossover.
• Stock has been trading above 10, 21, and 50 EMA on the weekly chart maintaining the bullish momentum.
• The MACD indicator has given a bullish crossover below its polarity levels signs for an early reversal signal.

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