Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• TAJ GVK: Buy on dips to above ₹ 398, stop loss ₹390, target ₹415
The stock has been experiencing a lot of volatility, and the recent profit booking dragged the prices into the ‘kumo’ support region and is now spurring a rebound. The robust long body candles are indicating some positive traction ahead. With the RSI pulling back to the neutral zone and a revival thereafter, it suggests we can look at some long opportunities. Consider going long.
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• Greaves Cotton: Buy above ₹285, stop loss ₹269, target ₹340
This counter continues to rebound from support in the last two months and is now showing some steady rise at the Kumo cloud, highlighting the continued upward bounce. A long-body candle close on Monday highlights positive sentiment. As the momentum is seen rising above important RSI zones consider going long.
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• India Glycols: Buy above ₹1,350, stop loss ₹1,320, target ₹1,490
We have been mentioning the revival in Chemical stocks, and the move seen in the last few days is clearly indicating some more fresh moves to the upside. As RSI is seen gathering steam once can look to initiate longs. Volumes are also seen picking up highlighting possibility of the trends to continue.
Stocks recommended by MarketSmith India:
● Fsn E-Commerce Ventures Ltd: Current market price ₹ 178.90 | Buy range ₹ 175–182 | Profit goal ₹ 226 | Stop loss ₹ 163 | Timeframe 2–3 Months
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● Metro Brands Ltd: Current market price ₹ 1,295.05 | Buy range ₹ 1,250–1,300 | Profit goal ₹ 1,580 | Stop loss ₹ 1,160 | Timeframe 2–3 Months
Three stocks to buy, recommended by Ankush Bajaj:
Buy Cholamandalam Investment and Fin Co Ltd at ₹1,337, Target ₹1,450-1,480, Stop Loss ₹1,273
On the hourly chart, the stock has broken out of a rectangle pattern, signaling a bullish move. It is also trading above the 60 level, indicating strong momentum post-breakout. This suggests potential continuation of the upward trend if key support levels hold.
Buy SBI Cards & Payment Services Ltd at ₹825, Target ₹870-890, Stop Loss ₹796
On the hourly chart, the stock is showing bullish momentum, with ADX above 30, indicating strong trend strength. It has successfully closed above the recent supply zone of 800-806, which can now act as a demand zone. Taking a bullish trade with a small stop-loss seems like a good strategy.
Buy Wipro Ltd at ₹313.60, Target ₹325-332, Stop Loss ₹306
Wipro was a strong candidate yesterday. On the lower timeframe, it broke the 310 level, confirming a triangle breakout. With ADX near 25, the stock indicates strong upside momentum, suggesting a continuation of the bullish trend.
About the analysts: Ankush Bajaj is a Sebi-registered research analyst (registration number INH000010441). Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
Raja Venkatraman is co-founder, NeoTrader.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.