In the previous session, Market witnessed a positive start to the day and the morning session saw the incremental highs. However, in the second half of the market the NIFTY did not make any major movement and remained range- bound till the market ended. The Nifty closed the day with a net gain of 61.60 points. A formation of Doji Candle at higher levels on the chart indicates indecision or neutrality in the market. Hence it is advised to secure profits at higher levels.

Look at the below research report of ‘Stocks to Buy for – Monday, June 14, 2021’ before the market opens.

Alkem Laboratories Ltd

NSE :ALKEM   BSE :539523  Sector : Pharmaceuticals

The present structure shows that Alkem Lab share prices are moving in Double Bottom Pattern. Stock has formed a strong Bullish candle in the previous session and comfortably closed above its key support level of 3125. As per the wave theory, stock seems to have completed wave 2 and is now moving higher in the form of wave 3 as marked on the chart. The Relative Strength Index (RSI) on the daily chart is 66.89, which indicates that stock still has more room on upside.

In short, trend for ALKEM looks to be positive for now.one can initiate buy near current price and add more on dips around support levels near 3125 which can take price towards 3300 and then higher levels towards 3480 as long as 3050 remain intact on downside.

Check More Analysis on ALKEM at: Alkem Laboratories Ltd

HCL Technologies Ltd

NSE :HCLTECH   BSE :532281  Sector : IT – Software

The pattern analysis shows that the HCLTECH has once again attempted to resume its up move and comfortably closed above the Ichimoku cloud with positive momentum. Now the cloud would act as perfect support and we could see movement in upward direction. Along with this the formation of Base line and Conversion line crossover confirm the bullish trend on daily charts. The daily MACD is bullish and it is trading above the signal line.

In a nutshell, the short-term trend of HCL Technologies Ltd is positive. To continue with the up move, If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 1005 and then 1037 levels as long as we do not see any closing below Ichimoku cloud support on daily chart basis.

Check More Analysis on HCLTECH at: HCL Technologies Ltd