STOP LOSS: Rs 690
The stock has witnessed some erosion in recent times and has currently showed signs of bottoming out near Rs 695 levels, indicating a bounce back with a positive bullish candle pattern to improve the bias. The relative strength index (RSI) is also showing a trend reversal to signal a buy and with good volume activity, we suggest to buy and accumulate the stock for an upside target of Rs 775, keeping the stop loss of Rs 690.
CMP: Rs 304.05
TARGET: Rs 350-355
STOP LOSS: Rs 278
The stock has been maintaining a strong support base near the 200-day moving average (DMA) level and recently it also made a reversal from Rs 260 level. It gave a decent rise to imply strength and has potential to carry on the momentum further in the coming days. It is almost on the verge of a breakout and we anticipate further upward move with positive bias. We suggest to buy and accumulate this stock for an upside target of Rs 350 - Rs 355, keeping the stop loss near Rs 278.
Disclaimer: The author may have positions in one or all of the above mentioned stocks. Views expressed are personal