Bajaj Auto, 360 One Wam, Hexaware Technologies, Coromandel International and Akzo Nobel India have witnessed a breakout above the key SuperTrend line indicator on the daily chart.
Technically, the SuperTrend line indicator helps in identifying the near-term market trend for the particular stock or index. In general, as and when the underlying stock price crosses over the SuperTrend line is considered as a positive sign and vice versa.
Based on this background, here's a detailed technical check on these 5 stocks.
Bajaj Auto
Current Price: ₹8,953
S1: ₹8,904; S2: ₹8,727
R1: ₹9,395; R2: ₹9,828
Bajaj Auto stock is seen trading above its SuperTrend line indicator, which stands at ₹8,727, with the 20-Day Moving Average (20-DMA) at ₹8,904 likely to act as a near support. On the upside, the stock resistance is visible around the higher-end of the weekly Bollinger Bands at ₹9,395; above which the next hurdle stands at ₹9,828 - the November 2024 high.
360 One Wam
Current Price: ₹1,164
S1: ₹1,121; S2: ₹1,100; S3: ₹1,054
R1: ₹1,260; R2: ₹1,310; R3: ₹1,390
The short-term trend for
360 One Wam stock is likely to be positive above ₹1,054, suggests the SuperTrend line indicator. Near support can be anticipated around the recent low at ₹1,121 and the 20-DMA at ₹1,100. On the upside, the stock can test ₹1,390, with intermediate resistance likely around the higher-end of the monthly Bollinger Bands at ₹1,260 and ₹1,310 levels.
Coromandel International
Current Price: ₹2,403
S1: ₹2,378; S2: ₹2,297; S3: ₹2,198
R1: ₹2,524; R2: ₹2,705
Coromandel International is trading above the higher-end of the Bollinger Bands on the daily chart; which implies a likely upbeat bias above ₹2,378. That apart, support the stock is visible at the 100-DMA at ₹2,297 and the trend line at ₹2,198. On the upside, the stock may test the upper-end of the weekly Bollinger Bands at ₹2,524; above which major resistance stands at ₹2,705.
Hexaware Technologies
Current Price: ₹746
S1: ₹742; S2: ₹725; S3: ₹692
R1: ₹800; R2: ₹820; R3: ₹846
Hexaware Technologies is seen trading above its 100-DMA, which stands at ₹742 for the third straight day. Support for the stock is visible at ₹725 and ₹692. On the upside, the stock may attempt an up move towards the weekly SuperTrend line at ₹846; and may face intermediate resistance around ₹800 and ₹820.
Akzo Nobel India
Current Price: ₹3,377
S1: ₹3,333; S2: ₹3,285; S3: ₹3,208
R1: ₹3,520; R2: ₹3,600; R3: ₹3,680
Akzo Nobel India stock may seek support at the 20-DMA at ₹3,333; below which key support is seen at the 200-DMA at ₹3,285 and ₹3,208. On the upside, resistance for the stock is visible at ₹3,520 and ₹3,600 levels; above which it may revisit July-month high at ₹3,680.
(Note: S1, S2, S3 and R1, R2, R3 are indicative support and resistance levels as per technical charts).  "Bajaj-Auto, 360 One among 5 stocks trading above this key tech indicator")
