Buy Welspun Corp, Godrej Consumer; sell ICICI Bank: Geojit BNP Paribas

Geojit BNP Paribas recommends buy on Welspun Corp and Godrej Consumer Product and sell on ICICI Bank

Here are a few stocks for trade today from Geojit BNP Paribas Financial Services;

Welspun Corp

Action: BUY

Targets : Rs 78.40 / Rs 80

Stop-loss : Rs 75.50

Comment : The reversal that started from around Rs 70 is still intact. The momentum indicators are supporting continuation of uptrend.


Godrej Consumer Products

Action: BUY on dips

Targets : Rs 1554 / Rs 1571

Stop-loss : Rs 1498

Comment : The stock has been consolidating around Rs 1490 mark and seems to have broken out of the trading range. The momentum indicators like RSI and Stochastics are favoring further uptrend.

ICICI Bank

Action : SELL

Targets : Rs 234.8 / Rs 232

Stop-loss : Rs 243

Comment : The stock has on a downside for couple of days now and the recent attempt to reverse the direction also didn't work out. The MACD has crossed the signal line from
above hinting at more downside.

Disclaimer:  This report has been prepared by Geojit BNP Paribas Financial Services Limited (GBNPP), here in after referred to as GBNPP. GBNPP, a publicly listed company, is engaged in services of retail broking, credit, portfolio management and marketing investment products including mutual funds, life and general insurance and properties. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this report (including the merits and risks involved). This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed herein is our current opinion as of the date appearing on this report only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.