 "Here's why Mehul Kothari recommends to Buy Kothari Sugars, IEX")
BUY
Kothari Sugars
Buy Near: Rs 43.50
Target: Rs 46.50
Stop Loss: Rs 42
During the recent trading sessions, we witnessed traction in most of the sugar stocks along with Kothari Sugars. The stock has confirmed a range breakout above Rs 43.50 mark. The price action was supported with exceptional volumes and even the momentum oscillators are positively placed.
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Thus, we advise traders to buy the stock near Rs 43.50 with a strict stop of Rs 42.
BUY
Indian Energy Exchange (IEX)
Buy Near: Rs 147
Target: Rs 160
Stop Loss: Rs 140
Recently, we witnessed a fresh breakout in the stock above Rs 145 mark. Post which, the stock rallied above Rs 150 and then again we witnessed a pullback. The stock has managed to confirm a higher top and higher bottom formation on the daily scale.
Hence, we advise traders to buy the stock near Rs 147 with a strict stop of Rs 140.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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