Stocks to buy today: Analyst bets on Ceat, Godrej Consumer; check target

Osho Krishan of Angel One has recommended buying Ceat and Godrej Consumer Products; here's why

Stocks to Buy: Recommended by Osho Krishan of Angel One

NSE scrip– CEATLTD

View- Bullish

Last close – ₹3,931

 

CEAT LTD has experienced a pronounced correction in the recent period, resulting in a decline that has pushed the stock price towards the 100 DEMA. Though in the last session, the counter showed a spurt in price and volume, coinciding with the 100 DEMA support zone and the neckline of the previous breakout, suggesting a pullback. Additionally, the 14-day RSI has shown a positive crossover and MACD, signaling a turnaround and adding to the bullish quotient.

Hence, we recommend to ‘Buy’ CEATLTD around ₹3,900 | Stop-loss: ₹3,650 | Target: ₹4,200-4,300

NSE scrip – GODREJCP

View- Bullish

Last close- ₹1,186

 

GODREJCP has shown a rebound from the ₹1,120 zone in recent sessions, surpassing the 200-day SMA, which indicates the onset of a counter-trend. From a technical perspective, the MACD histogram has demonstrated buying momentum, moving above the signal line and creating a positive crossover. Furthermore, the EMAs are approaching positive crossovers, suggesting that this upward momentum is likely to continue in the near future.

Hence, we recommend to ‘Buy’ GODREJCP around ₹1,170 | Stop-loss: ₹1,120 | Target: ₹1,230-1,250

 

(Disclaimer: This article is by Osho Krishan, chief manager - technical and derivative research at Angel One. Views expressed are his own.)