.3 minutes reviewed Last Upgraded: Aug 29 2024|6:55 AM IST.Borosil Renewables.Borosil Renewables has just recently experienced a notable cost downtrend after achieving its top near Rs 573, dropping around 87 points, which converts to a 15 per-cent decrease. The inventory has actually currently found support in the Rs 490-500 variation, which is actually an in the past solid level for the stock.This support area is actually particularly necessary as it additionally accompanies the 200-day Simple Relocating Average (SMA), a vital technical indication that usually serves as a sturdy amount of support.Additionally, the Family member Strength Index (RSI) on the hourly chart is actually showing a favorable divergence at this assistance level, which is actually a signal that the inventory may be positioned for a reversal. This makes the existing price index of Rs 530-520 attractive for taking a lengthy position.Given these technical red flags, the stock is actually encouraged for acquiring within this cost variation, with an upside target of 600. To manage threat efficiently, it is wise to put a stop-loss at Rs 455 on a daily closing basis.Also Read: Nifty IT mark presents bullish pattern on charts check trading method below.Gujarat Ambuja Exports (GAEL).Over recent year, GAEL has actually developed a sturdy assistance level within the range of Rs 130-132, undertaking various tests that have demonstrated its resilience when faced with descending stress..Lately, there has actually been a notable growth as GAEL broke over a crotchety trendline that had actually constricted its motion for the past 4-5 months, as well as significantly, it has sustained this escapement. This advises an essential change in market belief towards the stock..Furthermore, on the clue front, the every week Loved one Toughness Index (RSI) has surpassed its very own bearish trendline, signalling bullish drive in the short to channel term. Thinking about these specialized indications, we have recommended traders and capitalists to launch lengthy positions in GAEL within the series of Rs 140-144..Our team have actually established an upside target of Rs 174, indicating our favorable overview on the inventory's ability for recognition. To manage risk, our company highly recommend putting a stop-loss order near Rs 126 on a daily closing basis, striving to guard against damaging motions out there.Laxmi Organics .Over recent 7-8 weeks, Lxchem has actually been trading within a reasonably narrow stable of around Rs 235-270, signifying a duration of loan consolidation. Nonetheless, the inventory just recently broke out of this particular selection and is now positioned near the Rs 280-mark, signalling a possible shift in its trend.This outbreak is actually particularly notable considering that it has additionally broken a rough trendline that has constricted the stock's motion for virtually 3 years in addition to volume picking up. The duration of time it considered this outbreak to happen makes it a considerable celebration, proposing a possible modification in the sell's long-term fad. Additionally, the Relative Toughness Mark (RSI), an energy sign, has actually constantly remained above the 50 amount throughout this period.This signifies durability, signifying that regardless of the combination, the supply has actually kept favorable drive. Looking at these technological elements, our team encourage taking a lengthy position in Lxchem within the rate series of Rs 298-302. The upside target is evaluated Rs 340, demonstrating the ability for further increases adhering to the escapement. To manage risk successfully, a stop-loss must be placed near Rs 280 on a day-to-day closing basis. .( Waiver: Jigar S Patel is actually a senior supervisor of equity research at Anand Rathi. Views conveyed are his personal.).First Posted: Aug 29 2024|6:51 AM IST.