 "Here's why Mehul Kothari recommends to buy ABB, MRPL")
BUY
ABB
Buy Near: Rs 2,720
Target: Rs 2,880
Stop Loss: Rs 2,640
In the past few weeks, ABB has corrected around 20 per cent from the peak of Rs 3,300 and has entered an oversold territory. At this juncture the stock has turned back for the placement of 200-day moving average. The risk reward looks lucrative to go long.
Also Read
Thus, we advise traders to buy the stock on dips near Rs 2,720 with a strict stop of Rs 2,640.
BUY
MRPL
Buy Near: Rs 53
Target: Rs 57
Stop Loss: Rs 51
In the past few sessions, MRPL has come down from Rs 63 towards Rs 52 mark. There is a multiple bottom formation near Rs 52 level. In addition, after Monday’s session we are witnessing a bullish harami candlestick pattern on the daily time scale.
Hence, we advise traders to buy the stock near Rs 53 with a strict stop of Rs 51.
(Mehul Kothari - AVP – Technical Research, 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%