Hudco, Medanta among top analyst bets; check target price, stop-loss

Hudco has shown a decent correction over the past couple of trading sessions, retesting the 20-day EMA on the daily chart, while Medanta has experienced a pronounced correction in recent weeks

Stocks to buy today- Recommendations by Osho Krishnan, Angel One

NSE scrip – HUDCO

View -   Bullish

Last close – ₹230

 

Hudco stock has shown a decent correction over the past couple of trading sessions, retesting the 20-day EMA on the daily chart. Though in the last couple of sessions the counter has gained significant traction, accompanied by positive crossover in MACD histogram, which lifted it above all its EMAs on the daily chart. Additionally, the counter showcases a ‘Symmetrical Triangle’ formation, awaiting a breakout. Additionally, the risk-reward ratio at the current zone seems favorable, creating an opportunity from a medium-term perspective.

Hence, we recommend to 'Buy' HUDCO around ₹225 | Stop-loss: ₹210 | Target: ₹250-₹255 

NSE scrip – MEDANTA

View- Bullish

Last close– ₹1,226

 

Medanta shares have experienced a pronounced correction in recent weeks, resulting in a decline that has pushed the stock price below all significant EMAs, including the 200-DSMA. These developments have also propelled the technical indicators into oversold territory. However, support is evident from an ascending trendline, which highlights a robust demand zone. Furthermore, a positive crossover in the 14-day RSI has been observed, indicating an early sign of a potential counter-trend reversal. 

Hence, we recommend to 'Buy' MEDANTA around ₹1,200 | Stop-loss: ₹1,140 | Target: ₹1,280-₹1,300

 

(Disclaimer: Osho Krishan is senior analyst of technical & derivatives at Angel One. Views expressed are his own.)