Three stocks to buy, recommended by NeoTrader’s Raja Venkatraman:
• Triveni Turbine Ltd: Buy above ₹536 | Stop loss ₹520 | Target ₹575-590
The strong rebound from lower levels combined with some genuine buying in this counter could now fuel some upside. Overall, there has been some steady buying at lower levels as a hammer bottom was formed in January-end highlighting a bottoming formation. The RSI is seen rising ever since and is now inching higher. The prices are showing intention to step up and can be a good opportunity to go long at current levels.
• Prism Johnson Ltd: Buy above ₹129 | Stop loss ₹126 | Target ₹137-140
This counter after dipping after some steady profit booking, the prices are seen reviving. A positive divergence on the RSI, as seen on the charts around 120-125 levels in the last week, has some steady resolve on the way up. A long body candle close on the last two trading sessions highlights continued positive sentiment. With momentum showing the potential for further rise in store, one could consider going long.
• Monte Carlo Fashions Ltd: Buy above ₹599 | Stop loss ₹580 | Target ₹645-660
There are some strong recovery seen in select consumer stocks. MONTECARLO shares are in demand and the rise seen in the last session has given a strong breakout, with the possibility of further rise in store. The gradual resumption of upward momentum highlights more room at the top. The attempt to move beyond the consolidation zone clearly highlights a strong case of bullishness. As RSI is seen rising and pushing the prices above recent consolidation. With a long-body candle firmly in place, we can look to initiate longs.
Three stocks to buy, as recommended by Ankush Bajaj:
Asian Paints: Buy at ₹2,267 | Target ₹2,340-2,360 | Stop loss ₹2,230
On hourly chart, the stock has given upper channel breakout from recent highs to low. Also, on hourly chart the average directional index (ADX) is trading at 35.54 and moving average convergence divergence (MACD) at 23, showing strong bullish momentum.
Garware Hi-Tech Films: Buy at ₹4,490 | Target ₹4,875-4,925 Stop loss ₹4,348
Stock is trading near 61.8% retracement from 5384 highs and 3140 lows. Also, major Garware Hi-Tech Films Ltds on hourly charts showing bullishness, so if stock sustains above 4531 level, expecting a good up trend in coming days.
Also Read: How Sebi’s serial crackdown crimped F&O volumes and crashed broking-firm stocks
ONGC: Buy at ₹232.60 Target ₹244-248 | Stop loss ₹ 226
Stock has bounced back from a strong demand zone at 215-220 levels and is now trading at 232.Expecting a rally till 240-245 levels.Traders should maintain a strict stop loss because this stock is trading in a downtrend in the bigger picture.
Two stocks to buy, as recommended by MarketSmith India
Gabriel India: Current market price: ₹513.65 | Buy range: ₹495-518 | Profit goal: ₹610 | Stop loss: ₹470 | Timeframe: 2-3 months
Amber Enterprises India: Current market price: ₹6,174.90 | Buy range: ₹6,000-6,200 | Profit goal: ₹7,700 | Stop loss: ₹5,500 | Timeframe: 2-3 months
About the analysts: Raja Venkatraman is co-founder, NeoTrader. His registration number is INH000016223. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. MarketSmith India is a stock research platform. Its trade Name is WILLIAM O’NEIL INDIA Pvt. Ltd and Sebi-registered research analyst registration no. is INH000015543.
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.
