PB Fintech Stocks: On the weekly chart, Policybazaar showed a bullish breakout above the little 'Falling Channel' pattern at Rs 1,145, indicating a positive bias.
Axis Securities reported that Maruti Suzuki has broken out of a five-week consolidation zone on the weekly chart, ranging from Rs 11,730 to Rs 11,300. The break was accompanied by a strong bullish candle, which suggests that the medium-term uptrend will continue.
Based on technical readings, Axis Securities projects potential upsides of 7–19% on four companies over the next three to four weeks: PB Fintech (Policybazaar), Maruti Suzuki India Ltd, JSW Energy Ltd, and Cummins India Ltd. The domestic brokerage believes there is a 12–17% potential upside for Policybazaar, a 14–17% potential gain for JSW Steel, a 16–19% possible upside for Cummins India Ltd., and a 7-9% potential upside for Maruti Suzuki shares.
Regarding JSW Energy, there is a positive bias since the stock has broken above its 'Downward Sloping Trendline' at the Rs 505 level.
Because of the "Principle of Polarity," the stock found support at the horizontal level of about Rs 450, which was previously a barrier and is now operating as support.
The 50% Fibonacci retracement level of the advance from Rs 453 to Rs 502 is the level at which JSW Energy established support, forming a short-term support band around that level. A purchase signal has been generated by the daily strength indicator RSI's crossover above its reference line. It stated, "The above analysis points to an upside of Rs 575-590 levels.
Axis Securities stated that Policybazaar had a bullish breakthrough above the tiny 'Falling Channel' pattern at Rs 1,145 on the weekly chart in the instance of PB Fintech, indicating a favourable bias. It stated that the stock is creating a higher high-low pattern and staying above an upward-sloping trendline, all of which are signs of a medium-term advance.
Maruti Suzuki formed a medium-term basis for potential future higher movement by maintaining support above the 23% Fibonacci retracement line of the rally from Rs 9,755-11,720 at Rs 11,275. With the weekly Relative Strength Index (RSI) remaining above its reference line and in a bullish state, the stock appears to be biased positively. The aforementioned analysis points to an increase towards the 12,940–13,200 levels," it stated, recommending a stop loss at Rs 11,650.
Cummins India has also broken out of the Rs 2,835-2,650 five-week. consolidation zone, followed by a strong bullish candle that suggests the medium-term rise would continue.
The stock has lately found support at the bottom band and is presently trading within a modest rising channel.
Presently in a position to travel towards the channel's top band. A buy signal was generated when the stock closed above the upper Bollinger Band. It suggested a stop loss at Rs 2,660 and stated, "The weekly strength indicator RSI generated a buy signal, having given a crossover above its reference line.
