Osho Krishan of Angel One recommends buying DMart, JSW Energy on March 17

DMart share price has been experiencing a significant downturn, having lost nearly 40 per cent from its recent peak of 5,485.

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Stock Recommendations:

  NSE Scrip – DMART

  View -   Bullish

  Last Close – 3797.10 

DMART stock has been experiencing a significant downturn, having lost nearly 40 per cent from its recent peak of 5,485. However, the stock has reversed its trend after testing its historical support level around 3,400 and has shown bullish momentum in recent periods. It has surged above the 20-DEMA and 50-DEMA and has also tested the 100-day DEMA, indicating a potential resurgence. Additionally, weekly indicators suggest a counter-trend, making this a suitable investment opportunity in the near

future.  Hence, we recommend to BUY DMART around 3780-3750 | SL: 3400 | TGT: 4400-4650

 

NSE Scrip – JSWENERGY

  View -   Bullish

  Last Close – 514.10

 

JSWENERGY stock has seen a decent recovery after a phase of consolidation and is now placed above the short-term EMAs on the daily chart. The recent buying traction has been backed by a rise in trading volumes, attributing to positive development in the counter. Additionally, the counter is comfortably placed above the SuperTrend indicator, adding to bullish quotient. Simultaneously, the MACD indicator is about to surpass the Zero line from lower levels, suggesting a potential momentum in

the near future. 

Hence, we recommend to BUY JSWENERGY around 510-500 | SL: 460 | TGT: 580-590

 

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