Top trading ideas by Bharat Gala of Ventura Sec: Buy Nocil, Divi's Labs

Recently, the stock of Divi's Labs has given a weekly range breakout, making a new high of 4133, supported by volumes

Divis Labs

CMP: Rs 4,048

Target: Rs 5,000-6,000

Buy area: (3,900-3,760)-3,645-(3.530-3,465)

Stop loss: Rs 3,350

On the weekly charts, Divis Lab started its up move from 980 in March 2018. Supported by up gaps and higher bottoms, it staged a continuous, steady rise and made a high of 3900 in March 2021. Since August 2020, the stock has been trading above the averages and the super trend is in the positive mode. From Aug 2020, the stock traded in the range of 3000 to 4000, taking support of up gaps. Recently, the stock has given a weekly range breakout, making a new high of 4133, supported by volumes. Further, the Vortex, KST and Demand Index Indicators are in the positive mode. The stock has the strength to achieve a target of 5000-6000 in the coming days. Intermediate Buy area are (3900-3760)-3645-(3530-3465) and a Stop Loss of 3350 on a closing basis should be observed in the trade.

Nocil

CMP:Rs 184

Target: Rs 250-300

Buy area: (181-174)-167-(159-155)

Stop loss: Rs 138

On the weekly charts, NOCIL started its up move from 45 in March 2020. A continuous, steady rise followed, supported by higher bottoms and the stock made a high of 199 in March 2021. Since July 2020, it has been trading above the averages and the super trend is in the positive mode. Recently, the stock traded in the range of 157 and 185 for a month. A weekly green candle with the range of 173-184 has formed, supported by volumes and the Vortex and KST Indicators are in the positive mode. The stock has the strength to achieve a target of 250-300 in the coming days. The intermediate buy area is (181 174)-167-(159-155) and a Stop Loss of 138 on a closing basis should be observed in this trade.

Gufic Bio

CMP: Rs 136

Target Rs 260

Buy area: (133-126)-121-(116-113)

Stop loss: Rs 138

On the weekly charts, NOCIL started its up move from 45 in March 2020. A continuous, steady rise followed, supported by higher bottoms and the stock made a high of 199 in March 2021. Since July 2020, it has been trading above the averages and the super trend is in the positive mode. Recently, the stock traded in the range of 157 and 185 for a month. A weekly green candle with the range of 173-184 has formed, supported by volumes and the Vortex and KST Indicators are in the positive mode. The stock has the strength to achieve a target of 250-300 in the coming days. The intermediate buy area is (181-174)-167-(159-155) and a Stop Loss of 138 on a closing basis should be observed in this trade.

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Disclaimer: Bharat Gala is President - Technical Research at Ventura Securities.

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