We can see a big momentum in following stocks:
Buy: Multi Commodity Exchange of India Limited (Above Rs 1,281)
The stock is sustaining on major moving averages on daily charts. More bullish movement can be seen if the stock breaches 1,280 level. Along with this, the stock is also witnessing moving average crossover which will further strengthen bullish movement.
Considering the technical evidence discussed above, we recommend buying the stock above Rs 1,281 for the target of Rs 1,335, keeping a stop loss at Rs 1,254 on a closing basis.
Buy: Tata Global Beverages Limited (Above Rs 400.50)
After consolidating in a narrow range, the stock is ready to witness resistance breakout from the psychological level of 400. The stock is trading above its important moving averages. We recommend buying the stock above Rs 400.50 for the target of Rs 425, keeping a stop loss at Rs 385 on a closing basis.
Disclaimer: The analyst does not hold position in any of the stocks mentioned above.