Mehul Kothari recommends to buy Astral, Just Dial on dips; Check Why

According to the technical analyst from Anand Rathi, Astral can be bought with a stop at Rs 1,940, and Just Dial can be purchaced closer to Rs 620.

BUY

Astral 

Buy Near: Rs 2,020

Target: Rs 2,180

Stop Loss: Rs 1,940

Recently Astral corrected from the peak of Rs 2,650 and sneaked below the Rs 2,000-mark in a short span of time. At this juncture, the stock is hovering above the placement of its 200-day moving average.

On the daily scale we are witnessing reversal candlestick pattern which indicates possibility of decent pullback. Thus, we advise traders to buy it in the range of Rs 2,030 - Rs 2,000 with a strict stop of Rs 1,940.

BUY

Just Dial

Buy  Near: Rs 620

Target: Rs 680

Stop Loss: Rs 590

On the line chart, Just Dial has confirmed a range breakout above Rs 620 mark and that too after attempts of many months. This price action was accompanied with humongous volumes.

Also the daily RSI has managed to clear its 60 value and that suggests strength. Thus, we advise traders to buy the stock on dip near Rs 620 with a strict stop loss of Rs 590.

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