Here's why Mehul Kothari recommends buying Jubilant Foodworks, KPIT Tech

According to the technical analyst from Anand Rathi, Jubilant Foodworks can rally to Rs 660, while KPIT Technologies could jump to Rs 620.

BUY

Jubilant Foodworks

Buy Near: Rs 620

Target: Rs 660

Stop Loss: Rs 600

Recently, the stock Jubilant Foodworks confirmed a breakout above the 200-DEMA after quite some time and that indicates strength. Thereafter, the stock consolidated in a range for few trading sessions. 

In yesterday’s trading session, we witnessed another range breakout with volumes. Thus, we advise traders to buy the stock near Rs 620 for a target of Rs 660 in the coming sessions.

BUY

KPIT Technologies

Buy Near: Rs 590

Target: Rs 620

Stop Loss: Rs 575

KPIT Technologies has finally broken out above Rs 595 after April 2002. The price action resembles a bullish inverse head and shoulder pattern and was supported with heavy volumes which indicates accumulation.

Thus, we advise traders to buy the stock near Rs 590 for a target of Rs 620 in the coming sessions.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).