 "Here's why Mehul Kothari recommends buying MOIL, Shriram Transport Finance")
BUY MOIL | TARGET: 192 | STOP LOSS: 170
Since August 2021, MOIL was stuck in a range of 180 - 155. In yesterday’s session, the stock managed to breakout of this range and the price action was supported by decent volumes. In addition, the momentum oscillators on the daily, weekly and monthly scale are positively poised hinting towards fresh upside. Hence, traders are advised to buy the stock on dips near 178 with a stop loss of 170 for the upside potential target of 192 in 1 – 2 weeks.
BUY SHRIRAM TRANSPORT FINANCE | TARGET: 1300 | STOP LOSS: 1150
Few session’s back, the stock underwent a breakdown from Head and Shoulder pattern near 1400 mark and the pattern had a target of around 250 points on the downside. In line with the pattern, the stock made a low near 1150 mark and has formed a reversal candlestick pattern. We believe that if 1150 is not breached then the stock could witness a decent bounce from here on. Thus, traders are advised to buy the stock near 1200 with a stop loss of 1150 for the upside potential target of 1300 in 1 – 2 weeks.
===========================
===========================
Disclaimer: Mehul Kothari is a Technical Research Analyst at Anand Rathi Shares & Stock Brokers. 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%