 "Here's why Osho Krishan is bullish on Axis Bank, BirlaSoft and Gujarat Gas")
BUY AXISBANK
TARGET: Rs 870
STOP LOSS: Rs 770
AXISBANK is in secular uptrend, trading in the cycle of higher highs, higher lows in all time frames indicating inherent strength in the counter. Also the stock is placed above all its major exponential moving averages on daily chart supporting the bullish trend. On oscillator front, 14-period RSI is signalling strength whereas the MACD line is well placed above the signal line affirming the bullish stance in the counter in near future.
BUY BIRLASOFT LTD
TARGET: Rs 448
STOP LOSS: Rs 398
BSOFT is trading in a rising channel on a daily time frame. The stock has seen a strong resurgence from the lower band of the channel in the recent past and this time the lower band is being accompanied by the cluster of short-term exponential moving averages (21 & 50 DEMA) indicating a strong demand zone for the counter. Hence looking at the technical setup and the risk-reward ratio, it is advisable to go long in the counter from a short-term perspective.
BUY GUJARAT GAS LTD
TARGET: Rs 664
STOP LOSS: Rs 604
GUJGASLTD has retraced nearly 61.80 percent from its lifetime high zone and has seen firm consolidation near the same from the past couple of trading sessions, suggesting the formation of a strong base. On the daily timeframe, the stock is hovering near to its 100 DEMA that historically has proved to provide strong support to the counter. Even the stock is hovering near the mean of Bollinger band (20, 2) indicating an early sign of reversal in the counter.
Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.
TARGET: Rs 870
STOP LOSS: Rs 770
AXISBANK is in secular uptrend, trading in the cycle of higher highs, higher lows in all time frames indicating inherent strength in the counter. Also the stock is placed above all its major exponential moving averages on daily chart supporting the bullish trend. On oscillator front, 14-period RSI is signalling strength whereas the MACD line is well placed above the signal line affirming the bullish stance in the counter in near future.
Also Read
TARGET: Rs 448
STOP LOSS: Rs 398
BSOFT is trading in a rising channel on a daily time frame. The stock has seen a strong resurgence from the lower band of the channel in the recent past and this time the lower band is being accompanied by the cluster of short-term exponential moving averages (21 & 50 DEMA) indicating a strong demand zone for the counter. Hence looking at the technical setup and the risk-reward ratio, it is advisable to go long in the counter from a short-term perspective.
BUY GUJARAT GAS LTD
TARGET: Rs 664
STOP LOSS: Rs 604
GUJGASLTD has retraced nearly 61.80 percent from its lifetime high zone and has seen firm consolidation near the same from the past couple of trading sessions, suggesting the formation of a strong base. On the daily timeframe, the stock is hovering near to its 100 DEMA that historically has proved to provide strong support to the counter. Even the stock is hovering near the mean of Bollinger band (20, 2) indicating an early sign of reversal in the counter.
Osho Krishan is senior manager – Equity Research 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%