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SBI Cards, Syngene International: Two stocks that Gaurav Garg is bullish on

The stock of SBI Cards may soon surpass its 52-week high level of Rs 1,002.5 apiece
Buy SBI Cards and Payment Services Limited (Above Rs 980) 

 
Target: Rs 1,025

 
Stop loss: Rs 955

 
The stock is forming a 'bullish flag' pattern on daily charts, and breaking its resistance. This might push the stock to its 52-week highs of 1,002.05. The stock might also show further strength if it moves above 980. It is also sustaining above its important moving averages. We recommend buying the stock above 980 for the target of Rs 1,025, keeping a stop loss at Rs 955 on closing basis.

 
Buy Syngene Limited (Above Rs 623)

Target: Rs 654

 
Stop loss: Rs 600

The stock is showing signs of reversal from its important support zone placed at 600. The stock might show further strength if it moves above 623. It is also sustaining above its important moving averages. We recommend buying the stock above 623 for the target of Rs 654, keeping a stop loss at Rs 600 on closing basis.

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Disclaimer: Gaurav Garg is Head of Research at CapitalVia Global Research Limited- Investment Advisor. The analyst does not hold position in any of the stocks mentioned above. Views expressed are personal.



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