Rakesh Mehta, Research Analyst, Fullerton Securities and Wealth Advisors, recommended the following stocks in Economic Times.
Idea: The recommendation on this telecom stock is buy with a target price of Rs 80 and a stop loss at Rs 72. The stock has given a positive breakout above Rs 70 after forming a strong base at around Rs 60. It is trading above its important moving averages while the weekly MACD has moved in to positive territory, indicating strong momentum.
Punj Llyod: The recommendation on this stock is buy with a target price of Rs 80 and a stop loss at Rs 66. The stock is showing good resilience at lwer levels. A strong intermediary base around Rs 60 provides support to the stock. All momentum indicators are in the oversold zone. Which indicates there is limited downside.
Bombay Dying: Mehta's recommendation on this stock is buy with a target price of Rs 355 and a stop loss at Rs 400. The stock currently trades at a lower band of the long-term symmetrical triangle formed on weekly charts. Momentum indicators are in teh oversold zone an the stock may retrace back to the upper band of the triangle. The target is Rs 400.
Godrej Idustries: Mehta recommends this stock as buy with a target price of Rs 188 and a stop loss at Rs 225. The positive momentum build in the stock around the important support of Rs 150 can take the stock to around Rs 225 in the near term. Consistent close above the vital long-term moving averages has improved the probability of momentum sustainability.
Bank of Baroda: Here the recommendation on this stock is sell with a target price of Rs 900 and a stop loss at Rs 800. On Weekly charts, the MACD has turned negative after a very long time signaling, that the momentum is subsiding. The time is ripe for some profit-booking. The immediate resistance lies around Rs 900. Which could act as stoploss.
Meanwhile, for intraday trade Sharegyan recommeds Aurobindo Pharma to sell below Rs 174 with a target price of Rs 169 and a stop loss at Rs 177.
The website, technicalanalysisofstocks, recommends to buy the stock of DS Kulkarni Developers for a target price of Rs 64 and a stop loss at Rs 56.
Firstpost have picked Tata Steel, SBI, REC, Petronet, Pantaloon, Hero Honda, Bajaj Auto, Lupin and Punj Loyd as the 9 stocks of the day.
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