The overall structure of Schneider Electric Infrastructure is very impressive, as it is trading above all its important moving averages.
Pravesh Gour
January 11, 2023 / 06:23 AM IST
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alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var postfolio_url = ‘https://www.moneycontrol.com/portfolio_new/add_stocks_multi.php?id=’+dispId; window.open(postfolio_url, ‘_blank’); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”); $ (“#lightbox_cb”).css({ filter: “alpha(opacity=80)” }).fadeIn()*/ $ (“.linkSignUp”).click(); } function overlay(n) { document.getElementById(‘back’).style.width = document.body.clientWidth + “px”; document.getElementById(‘back’).style.height = document.body.clientHeight +”px”; document.getElementById(‘back’).style.display = ‘block’; jQuery.fn.center = function () { this.css(“position”,”absolute”); var topPos = ($ (window).height() – this.height() ) / 2; this.css(“top”, -topPos).show().animate({‘top’:topPos},300); this.css(“left”, ( $ (window).width() – this.width() ) / 2); return this; } setTimeout(function(){$ (‘#backInner’+n).center()},100); } function closeoverlay(n){ document.getElementById(‘back’).style.display = ‘none’; document.getElementById(‘backInner’+n).style.display = ‘none’; } stk_str=”; stk.forEach(function (stkData,index){ if(index==0){ stk_str+=stkData.stockId.trim(); }else{ stk_str+=’,’+stkData.stockId.trim(); } }); $ .get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?classic=true&sc_id=’+stk_str, function(data) { stk.forEach(function (stkData,index){ $ (‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]); }); }); function redirectToTradeOpenDematAccountOnline(){ if (stock_isinid && stock_tradeType) { window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’); } } The Nifty shows volatile movement between 17,800 and 18,300 levels, with a near-term structure of sell-on-the-rise as FIIs keep up their selling spree. If the benchmark index falls below 17,800, there is a chance of accelerated selloff by the foreigners around 17,625 or 17,425 levels. Otherwise, range-bound movement will continue, for now.On the upside, the 20-DMA (daily moving average) of around 18,150 will be an immediate hurdle, while the Nifty has to cross the 18,300 level for any meaningful strength.Bank Nifty also shows weakness where 41,750 is an immediate and strong support level; below this, the 100-DMA around 41,300 will be the next support level. On the upside, 42,500–42,750 is acting as an immediate supply zone.Here are three buy calls for next 2-3 weeks:Schneider Electric Infrastructure: Buy | LTP: Rs 203 | Stop-Loss: Rs 180 | Target: Rs 240 | Return: 18 percentOn the weekly chart, the counter has witnessed a long consolidation and trend-line breakout with strong volume while on the daily chart, it has given a V-shaped recovery from the last breakout level from Rs 140.The overall structure of the counter is also very impressive, as it is trading above all its important moving averages.The momentum indicator RSI (relative strength index) is positively poised, whereas MACD (moving average convergence and divergence) is witnessing a centerline crossover on the upside.On the higher side, Rs 220 is acting as an important psychological level; above this, we can expect a level of Rs 240+ in the near-short term, while on the lower side, Rs 180 will act as a major support during any correction.Carborundum Universal: Buy | LTP: Rs 932 | Stop-Loss: Rs 875 | Target: Rs 1,024 | Return: 10 percentOn the weekly timeframe, the counter has broken out of a symmetrical triangle formation. On the daily chart, it has broken out of an Inverse Head & Shoulder with huge volume.It has retested its previous breakout level of Rs 900. The overall structure of the counter is very lucrative, as daily moving averages are supporting the trend.On the upside, Rs 950-970 are a susceptible area; above this, we can expect a run-up towards Rs 1,020 level in the near term. On the downside, Rs 875 is major support during any correction.MACD (moving average convergence divergence) is supporting the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised.Hindustan Copper: Buy | LTP: Rs 123 | Stop-Loss: Rs 113 | Target: Rs 144 | Return: 17 percentSince, April 2022, it has been moving in a sideways trend, where the horizontal price movement occurs when the forces of supply and demand are nearly equal. But in Tuesday’s trading session, the counter has given a breakout of the horizontal neckline on the daily chart above the Rs 120 level.On the upside, Rs 132 is a susceptible area; above this, we can expect a run-up towards Rs 144 level in the near term. On the downside, Rs 113 is major support during any correction.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.