BUY MUTHOOTFIN | TARGET: Rs 1,210 | STOP LOSS: Rs 1,120
The inventory has supplied a breakout from a falling wedge sample on the each day chart. It is usually buying and selling effectively above its short-term and long-term shifting averages. The momentum indicators and oscillators are within the purchase mode on the each day scale which hints at additional momentum within the counter. Primarily based on the aforementioned rationale, we are able to anticipate conservative goal of 1,210.
BUY BANDHAN BANK | TARGET: Rs 300 | STOP LOSS: Rs 277
The inventory has supplied a breakout from a multi-month falling development line on the each day chart. The volumes have been additionally increased than common which helps the breakout. The momentum indicator RSI has additionally breached the falling development line and MACD supplied a recent purchase crossover on the each day chart which hints of additional constructive momentum within the counter.
BUY PIDILITE INDUSTRIES | TARGET: Rs 1,520 | STOP LOSS: Rs 1,430
The inventory has discovered the help of its falling development line and has reversed from the identical. It additionally fashioned a double backside formation on the each day chart. The general setup hints at a robust pullback in direction of its earlier swing excessive which is positioned at 1,520 ranges. It is usually buying and selling effectively above its short-term and long-term shifting averages. The momentum indicators and oscillators are within the purchase mode on the weekly scales which hints of robust momentum on the upper facet.
Disclaimer: Nilesh Jain is Technical and Derivatives Analysis Analyst at Anand Rathi Shares and Inventory Brokers. He might have positions in a single or all the above talked about shares. Views are private.