 "Two stock picks by Osho Krishan: Buy NOCIL, Chambal Fertilisers")
BUY NOCIL | TARGET: Rs 226 | STOP LOSS: Rs 199
NOCIL has been trading in a symmetrical triangle pattern on the daily time frame. Currently, it is placed above all its major exponential moving averages on the daily time frame, suggesting inherent strength in the counter. Even on the oscillator front, 14 period RSI has witnessed positive crossover and is all set to surge northwards, wherein any breakout from the mentioned pattern could result in a huge splurge in the counter in near future.
BUY CHAMBAL FERTILIZERS | TARGET: Rs 328 | STOP LOSS: Rs 282
The stock has witnessed a Flag & Pennant pattern breakout on the daily chart which was backed by robust volumes, indicating huge upside potential in near future. On technical parameters, the stock is looking aggressively bullish and is all set to test the uncharted territory in the coming trading session. Even the stock price has splurged towards the upper band of the Bollinger post-consolidation near the mean, affirming the breakout post-formation of a strong base.
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Disclaimer: Osho Krishan is senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views are personal
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