DLF, ICICI Bank, Maruti Suzuki: Here's how to trade stocks post Q2 results

Major stocks are preparing for next leg of breakouts.

The benchmark indices were subdued in the afternoon deals on Monday; however, a number of stocks were trading actively post their September quarter results, which were announced during the weekend or post-market hours on Friday. 

Here's a look at what technical charts indicate for some of the stocks post their Q2 numbers.

ICICI Bank Ltd (ICICIBANK): The stock is clearly holding the support of 200-day moving average (DMA), yet the price is not indicating a strong upmove. This scenario may continue, till the Relative Strength Index (RSI) does not conquer the 60 value firmly. The immediate support comes in at Rs 400 levels above the next support of 200-DMA placed at Rs 391 currently. If the RSI crosses 60 value, the stock may effectively conquer the resistance of Rs 430 and move forward in the direction of Rs 450 and Rs 465 level. CLICK HERE FOR THE CHART
 
Maruti Suzuki India (MARUTI): The counter faces resistance at Rs 7,250, as per the daily chart. The bullish sentiment is expected to continue till it manages to hold on to Rs 6,750 levels on the closing basis. At the current levels of Rs 6,925, which coincides with 50-DMA placed at Rs 6,955 levels, the momentum and intensity seem to see volatile sessions with mild weakness. Although, RSI has made a negative crossover, the MACD is not showing weakness in turning downward. CLICK HERE FOR THE CHART
 
DCB Bank Limited (DCBBANK): The “Double Top” breakdown in the September, 2020 in the range of Rs 83 - Rs 82 has weakened the upside potential. Further, the counter has failed to cross this resistance range and is gradually managing to hold ground above Rs 77 levels, the immediate support as per the daily chart. The overall trend is sluggish with volumes staying subdued. CLICK HERE FOR THE CHART
 
DLF Ltd (DLF): The major breakout is above Rs 180 levels, which is its 200-weekly moving average (WMA). As of now, the counter is continuously making efforts to stay above 200-DMA, placed at Rs 163.30 levels. On the downside, till the support of 100-DMA is held, the weakness is capped around Rs 152.50 levels, as per the daily chart. CLICK HERE FOR THE CHART
 
Max Financial Services Limited (MFSL): A decisive close above Rs 640 may lead to a breakout towards Rs 700 and Rs 740 levels, as per the weekly and daily charts. This is due to the Golden Cross of the 50-weekly moving average (WMA) and 200-WMA. At the current momentum, till the price holds Rs 560 levels, which is its 100-DMA, the negative trend is unlikely to eliminate the upside sentiment. CLICK HERE FOR THE CHART