Stock to watch out for next week

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1. Tata Steel

Tata Steel is among the top steel producing companies in the world with an annual crude steel capacity of 34 million tonnes. It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world. It is the second largest steel company in India (measured by domestic production) with an annual capacity of 13 million tonnes after Steel Authority of India Ltd. (SAIL).

Univest Fundamental Score – STRONG

Technical View:

• Tata Steel gave a breakout of Inverted head and shoulder pattern at 110 levels supported by volumes.
• 10 EMA is above 20 EMA which shows the sign of strength.
• RSI (14) is at 69 which shows the stock is not in the overbought zone.

2.  APL Apollo Tubes

With a capacity to produce 2.6 Million Tonnes per annum, APL Apollo Tubes Limited is the largest producer of Structural Steel Tubes in India. APL has an extended distribution network of warehouses and branch offices in 29 cities across the country catering to domestic as well as 20 countries worldwide.

Univest Fundamental Score – NEUTRAL

Technical View:

• APL Apollo Tubes took support from 50 EMA and gave a breakout of consolidation pattern at 1177 levels.
• 10 EMA is above 20 EMA which shows the short-term health of the stock is good.
• RSI (14) is at 67 which shows the stock is not in the overbought zone.

3.   Apollo Hospitals

Apollo Hospitals Enterprise Limited is an Indian multinational healthcare group headquartered in Chennai. Along with the eponymous hospital chain, the company also operates pharmacies, primary care and diagnostic centres, telehealth clinics, and digital healthcare services among others through its subsidiaries.

Univest Fundamental Score – NEUTRAL

Technical View:

• Apollo Hospitals gave a breakout of consolidation at 4626 levels.
• Now it has retested the same level and started moving up with volumes.
• 10 EMA is above 20 EMA which shows short-term health of the stock is very good.
• RSI (14) is at 68 which shows the stock is not in the overbought zone.

4. Tube Investment of India

Tube Investments of India Limited is a Murugappa Group company that specializes in engineering, bicycles, metal formed products, and chains. It is based in Chennai. It was incorporated as TI Cycles of India Limited in 1949, as a joint venture company. It is 

India’s leading engineering company engaged in manufacturing of precision steel tubes and strips, automotive, industrial chains, car door frames and bicycles

Univest Fundamental Score – NEUTRAL

Technical View:

• Tube Investment of India has given breakout at 2500 levels.
• Now it has retested the breakout and has started moving up with volumes.
• A positive crossover of 10 and 20 EMA happened on Thursday, will provide more strength to this stock.
• RSI (14) is at 67 which shows the stock is not in the overbought zone.

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