Latest News
-
Gold Prices In US: Yellow Metal Rates Surge Amid Escalating Tensions In Middle East; Hit Record High -
Jio Financial Services Sees 80% YoY Decline In Q4 Net Profit, Net Interest Income Dives 70% -
Rs 25/Share Dividend Payout: Multibagger Small Cap Tata Stock Declares 52.6% Jump In Q4 PAT -
Wipro Q4 Results: Cons PAT Up 5% QoQ To Rs 2,834.6 Crore, Revenue Guidance Weaker Than Estimates -
How To Apply Your Voter ID Card Online: Quick Guide For Indian Citizens -
Emmforce Autotech IPO Debut April 23: Issue Size, Price Band, Check Details? -
1:5 Stock Split: PSU Bank Fixes Record Date For First Ever Stock Split; Buy For Rs 650-680 Targets -
Closing Bell: Market Stages Smart Recovery, Sensex & Nifty Snap 4-Day Losing Streak Led By HDFC Bank -
Hindustan Zinc's Quarterly Profits Dive 21% Amid Global Metal Price Slump, Shares Plummet; Buy Or Not? -
IRFC, RVNL, IRCTC, Railtel: Railway Stocks In Focus As Election Polls Begin; Mega Rs 10-12 Lakh Crore Plan
2 Stocks ICICI Direct Gives A Buy For Quick Gains
In line with Asian markets, indices in trade on September 13, 2021 by over 200 points on the Sensex, while the broader markets outperformed and traded with some positive bias. Meanwhile, brokerage firm ICICI Direct has come out with 2 momentum picks today for gains in the short term:
1. BSE Limited:
The brokerage is bullish on the exchange for a target price of Rs. 1345 that implies gains of over 8% considering current market price of Rs. 1250.7. The stop loss recommended for the stock is Rs. 1170. The buy on the scrip is suggested for 14 days.
Technical observations:
BSE's share price has registered a break-out above the falling channel and limited last two month corrective pattern that signals resumption of up move and offers fresh entry opportunity. The brokerage expects the stock to continue with its positive momentum and head towards Rs. 1345 levels as it is the 80% retracement of recent decline (Rs. 1410-1024)
Also there is witnessed a slower retracement which signals a positive price structure and a higher base formation. The weekly stochastic has recently generated a bullish crossover above its three periods average thus validates positive bias in the stock.
2. Care Ratings:
The rating agency company has been a given 'Buy' for 7 days and suggested a target price of Rs. 760. The stock last traded at a price of Rs. 725 per share, implying gains of 4.83%.
Technical observations for the scrip by ICICI Direct
"The share price of Care Rating has rebounded after a higher base formation at the lower band of rising channel in place since March 2021 and 20 weeks EMA signaling resumption of the up move and offers fresh entry opportunity", as per the brokerage. ICICI Direct sees the stock of CARE Rating to begin up move and head towards Rs. 760 levels as it is the 80% retracement of last decline (Rs. 791-640).
The major highlight to point out is that the stock of Care Ratings has witnessed shallow retracement as its has retraced just 38.2% in 10 weeks against an up move of preceding 12 weeks (Rs. 433-791), signaling inherent strength. The weekly RSI has generated a bullish crossover above its nine periods average thus validates positive bias in the stock".
GoodReturns.in
Disclaimer:
The stocks are momentum picks of ICICI Direct for short term and not a recommendation for investments or trade in them.
GoodReturns.in
