The stock of Laurus Labs is in a secular uptrend and is placed above all its major moving averages on the daily chart
BUY LIC HOUSING FIN | TARGET: Rs 500 | STOP LOSS: Rs 430
The stock is in the cycle of "higher highs-higher lows" and is strongly poised to test its 52-weeks high zone in the coming future. In the past couple of sessions, it has consolidated near the previous high, indicating strong hands accumulating the counter at higher levels and also witnessed a run-away gap on daily chart affirming the bullish trend. Even on the front of the indicators, MACD is comfortably placed above its signal-line and 14 period RSI has witnessed positive crossover re-affirming the stock to surge higher in the coming future.
BUY LAURUS LAB | TARGET: Rs 400 | STOP LOSS: Rs 350
The stock is in a secular uptrend and is placed above all its major moving averages on the daily chart. Also, the stock has tested the ascending trend-line slope on back of robust volumes and is hovering above its 21 DEMA indicating huge upside potential in the counter in near future. On the oscillator front, the MACD is hovering well above the signal line indicating inherent strength in the counter and affirming the bullish momentum.
BUY HDFC LIFE | TARGET: Rs 780 | STOP LOSS: Rs 690
The stock is in a secular uptrend and is placed above all its major moving averages on the daily chart. Also, it has formed a strong base around 700 odd zone in the recent past and on the daily time frame, it has rebounded from the same suggesting it to be a strong demand zone. On the oscillator front, 14 period RSI has witnessed a golden crossover and is comfortably soaring northwards affirming the bullish stance in the counter.
Disclaimer: Osho Krishan is senior manager, equity research at Anand Rathi Shares & Stock Brokers. Views are personal