 "Canara Bank, Wipro are on Osho Krishnan's shopping list. Here's why")
BUY CANARA BANK | TARGET: 172 | STOP LOSS: 150
CANARA BANK is trading in a symmetrical triangle pattern and is on the verge of a breakout. The stock is placed above all its major exponential moving averages on the daily chart and has bounced from the 200 DEMA in recent times. The stock is hovering well above the mean of the Bollinger band (20, 2) and on most of the technical parameters, it tends to flash a bullish stance making it a strong buy from a positional perspective.
BUY WIPRO | TARGET: 650 | STOP LOSS: 596
WIPRO is in a secular uptrend and is among the outperformers in the rally. At present, the stock is in the cycle of higher highs higher lows on all time frames and maintains a bullish stance. On technical parameters, the stock is highly poised to test the uncharted territory in near future. On the oscillator front, MACD signals a bullish stance with positive crossover affirming the inherent strength in the counter.
All stock prices in Rs. Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.
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