The website, technicalanalysisofstocks, suggested to buy the stock of the company TCS with target of Rs 1045 and stop loss of Rs 915.
Shrikanth Shetty, Head-Equity advisor, Unicon Securities shared his picks in Economic Times.
JP Associates: There is a buy recommendation on the stock with target price of Rs 75 and a stop loss at Rs 67. On the daily chart, stock has closed above 20-day moving average support at 67, which is 38.20% Fibonacci retracement. The RSI and stochastics are indicating positive crossover, the momentum oscillators suggest possibility of an uptrend in short term.
Union Bank of India: There is a buy recommendation on this stock too with the target price of Rs 270 and a stop loss at Rs 240. Union Bank has had a breakout at Rs 248 levels on the daily chart, indicating that the short-term trend will remain positive. The stock has formed higher-top and higher-bottom formation, which indicates positive sentiment in short term trading with of decent volume support.
Reliance Cap: Here there is a sell signal with a target of Rs 360 and stop loss at Rs 405. The stock has a bearish engulfing candle stick on the daily chart. It has closed below previous the bottom and medium-term 20-DMA support at Rs 404 levels. Daily RSI shows negative crossover into overbought territory which will tend to resistance reversal action if it occurs.
Bombay Dyeing: There is buy recommendation on this stock with target price set at Rs 390 and stop loss at Rs 330. On the weekly chart, the stock has closed with bullish candle stick and is trading above the short-term resistance zone at Rs 345, indicating positive sentiment.
Cipla: There is a buy recommendation on here too with the target price set at Rs 300 and stop loss at Rs 280. On daily charts, Cipla has closed above previous top at Rs 286.95 levels. It has closed with positive bias and closed above short term indicator of 20 DMA at Rs 282.50.
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