 "Axis Bank, India Cement: Mehul Kothari bets on 2 stocks post correction")
BUY AXIS BANK | TARGET: Rs 840 | STOP LOSS: Rs 750
A couple of weeks back, AXIS BANK confirmed a breakout above 750 mark and gave a decent run up above 800-mark due to exceptional results. After that, the stock underwent some profit booking and almost retested that breakout zone. At this juncture, the stock is poised for fresh upside. Thus, traders can buy the stock near 785-mark with a stop loss of 750 for upside target of 840 in 3 – 5 weeks.
BUY INDIACEM | TARGET: Rs 230 | STOP LOSS: Rs 195
In the past one month, INDIACEM has corrected around 20 per cent from its peak of 260. Currently, it is hovering above the psychological level of 200-mark and that is a decent support. Also, it has retraced over 61.8 per cent of the entire rally which started from the low of 170 and that makes it a lucrative buy. Thus, traders can buy the stock near 208-mark with a stop loss of 195 for upside target of 230 in 3 – 5 weeks.
========================================
Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. He may or may not hold any position is the above mentioned stocks. Views are personal.
========================================
Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. He may or may not hold any position is the above mentioned stocks. Views are personal.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%