Three Long Term Leaders To Watch Now: Bajaj Finance, L&T Infotech and Hcl Tech

Posted Date: March 23 2021

Bajaj Finance

Bajaj Finance stock is worth watching as the stock is forming a 6-week, 11% deep Flat Base. The current price is only 7% away from its ideal buy price of INR 5822. Aggressive investors could use any tight area breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 0.9% away from the 10-week moving average.

In the last twelve months, Bajaj Finance has rallied nearly 112% as compared to 71.6% for the Nifty500. It has a Relative Strength Rating of 73. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Bajaj Finance can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Bajaj Finance has an Accumulation/Distribution Rating of 'A-'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Bajaj Finance has a respectable EPS Rank of 75, which is okay but needs improvement. The earnings and sales for the stock have grown by 26% and 37%, respectively over the past three years. Its 3-years earnings stability is 17, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 33% and 35%, respectively. The 5-years earnings stability is 14. The return on equity for the last reported year is 16%.

The current price of Bajaj Finance is -7% off from its 52-week high price and 203% above its 52-week low price. The stock belongs to the industry group of Finance-Consumer Loans, which is exhibiting excellent strength in the current market environment. The current industry group rank is 32.

The stock appears on our idea lists: Trend Template - 1 MonthLong Term Leaders.

L&T Infotech 

L&T Infotech stock is worth watching as the stock is forming a 10-week, 20% deep Double Bottom Base. The current price is only 6% away from its ideal buy price of INR 4380. Aggressive investors could use any tight area breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 3.6% away from the 10-week moving average.

L&T Infotech has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 83. In the last twelve months, the stock has rallied over 193.7% as compared to 71.6% for the Nifty500.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If L&T Infotech can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. L&T Infotech has an Accumulation/Distribution Rating of 'A-'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, L&T Infotech has an excellent EPS Rank of 93, which indicates consistency in earnings. The earnings and sales for the stock have grown by 15% and 20%, respectively over the past three years. Its 3-years earnings stability is 5, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 16% and 18%, respectively. The 5-years earnings stability is 4. The return on equity for the last reported year is 28%.

The stock belongs to the industry group of Computer-Tech Services. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 81. The current price of L&T Infotech is -8% off from its 52-week high price and 232% above its 52-week low price.

The stock appears on our idea lists: Trend Template - 5 MonthsLong Term Leaders.

Hcl Technologies 

Hcl Technologies stock is worth watching as the stock is forming a 11-week, 16% deep Consolidation Base. The current price is only 10% away from its ideal buy price of INR 1067. Aggressive investors could use any a Tight Areas breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 2.7% away from the 10-week moving average.

In the last twelve months, Hcl Technologies has rallied nearly 127.3% as compared to 71.6% for the Nifty500. It has a Relative Strength Rating of 68. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Hcl Technologies can maintain this outperformance, it could make sense as a CANSLIM trade.

On the earnings front, Hcl Technologies has an excellent EPS Rank of 91, which indicates consistency in earnings. The earnings and sales for the stock have grown by 16% and 16%, respectively over the past three years. Its 3-years earnings stability is 3, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 13% and 15%, respectively. The 5-years earnings stability is 6. The return on equity for the last reported year is 22%.

The stock belongs to the industry group of Computer-Tech Services. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 79. The current price of Hcl Technologies is -8% off from its 52-week high price and 141% above its 52-week low price.

The stock appears on our idea lists: Long Term Leaders.

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