Aptus Value, ABFRL have broken out on charts; buy on dips: Mehul Kothari

Similar to Aptus Value Housing Finance's stock, ABFRL confirmed a major breakout from the falling trend line formed by joining two prominent swing highs

^{BUY APTUS | TARGET: Rs 395 | STOP LOSS: Rs 335}

APTUS is a housing finance company and its stock has been in a sideway action since it's listing. In the recent session, the stock confirmed a major breakout from the falling trend line formed by joining two prominent swing highs. The price action is supported by breakout in daily RSI and the value has surpassed 60 mark, which indicates strength. Traders can buy the stock on dips between 357 - 353 with a stop loss of 335 for upside target of 395 in 3 – 4 weeks.

BUY ABFRL | TARGET: Rs 310| STOP LOSS: Rs 280

Similar to APTUS, even ABFRL confirmed a major breakout from the falling trend line formed by joining two prominent swing highs on the daily scale. Also, the price action was supported by breakout in daily RSI and the value has surpassed 60 mark, which indicates strength. Traders can buy the stock on dips between 290 with a stop loss of 280 for upside target of 310 in 3 – 4 weeks.

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Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. He may or may not have positions in the above mentioned stocks. Views are personal.