Britannia, Aurobindo, Ujjivan SFB look weak on charts post Q2 results

Sobha Ltd, however, is expected to surge up to 14% indicates the daily chart.

Britannia Industries Limited (BRITANNIA)
Outlook: Needs to sustain above Rs 3,500 levels.

The overall trend for the stock is exhibiting weakness, as per the daily chart. The immediate resistance comes at Rs 3,750 and Rs 3,800 levels. Any downside move, wherein the stock fails to show signs of recovery after trading below Rs 3,540 may trigger aggravated selling pressure at the counter. The following sell-off can pull down the stock towards of Rs 3,300-level. The Relative Strength Index (RSI) needs to cross 50 value decisively to attract the interest of market participants on the bullish side.   CLICK HERE FOR THE CHART

 
Sobha Ltd (SOBHA)

Likely target: Rs 1,050
Upside potential:  14%

Except Sobha Ltd, which is expected to surge up to 14%, other stocks are likely to see lower interest of market participantsith a “Higher high, Higher Low” formation, the shares of Sobha Ltd are well placed on the bullish trend, according to the daily chart. The immediate support for the stock comes at Rs 850 with the sentiment aiming towards Rs 1,050 level. The volume scenario exhibits keen interest of market participants on a strong positive close. The medium-term trend is expected to remain bullish as long as Sobha Ltd trades above Rs 750. CLICK HERE FOR THE CHART

Ujjivan Small Finance Bank Ltd (UJJIVANSFB)
Outlook: Only positive above Rs 25

As long as the shares of Ujjivan Small Finance Bank Ltd trades below the crucial level of Rs 25, the outlook may see weakness and the market participants are likely to stays sidelines, according to the daily and weekly charts. The current trend is weak and if the stock breaks the recent reversal mark of Rs 17.80 level, then the further downside may result in a severe bearishness. CLICK HERE FOR THE CHART

Aurobindo Pharma Ltd (AUROPHARMA)
Oultook: Only below Rs 660 may see further downside

The Death Cross shows a negative downside below the last reversal mark of Rs 660 level. If the stock breaks the same, then it may drop towards Rs 600, as per the daily chart. The current chart formation does not indicate any exciting picture for the shares of Aurobindo Pharma Ltd. The stock has an immediate resistance placed at Rs 725 level. CLICK HERE FOR THE CHART