 "Mehul Kothari recommends to buy Astral, Voltas")
BUY
Astral
Buy Near: Rs 1,920
Target: Rs 2,030
Stop Loss: Rs 1,860
Astral has been in a corrective mode since September 2022 and has cracked from the peak of Rs 2,650 towards Rs 1,900. Since last few weeks the stock has been consolidating and that indicates exhaustion in selling. We are witnessing multiple bottoms near Rs 1,860 mark along with a fresh breakout.
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Thus, we advise traders to buy the stock near Rs 1,920 with a strict stop of Rs 1,860.
BUY
Voltas
Buy Near: Rs 840
Target: Rs 890
Stop Loss: Rs 815
Even Voltas has been in a strong corrective mode since many months. The stock seems to be highly oversold on almost all time-frames. On the daily scale, we are witnessing higher top higher bottom formation which indicates change of trend.
Hence, we advise traders to buy the stock near Rs 840 with a strict stop of Rs 815.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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