Stocks to buy today: Analyst recommends ICICI Bank and one other stock

Stocks to buy today: ICICI BANK has experienced a significant correction, dropping below its short-term EMA and entering oversold territory

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

NSE scrip –  ICICIBANK

View- Bullish

Last close – ₹1,380

 

ICICI BANK stock has experienced a significant correction, dropping below its short-term EMA and entering oversold territory. However, the stock has stabilised near the 200 DSMA, which aligns with the neckline of the previous breakout zone. This suggests a potential brief reversal for the stock. Additionally, the MACD signal line has recently crossed positively within the oversold area, indicating a bullish sentiment.

Hence, we recommend to ‘Buy’ ICICIBANK around ₹1,370-₹1,360 | Stop-loss: ₹1,320 | Target: ₹1,450-₹1,470.

ALSO READ | Stocks to watch today, Oct 13: HCLTech, Tata Capital, DMart, Axis Bank, HCC   

NSE scrip – KAJARIACER

View- Bullish

Last close– ₹1,240

 

Kajaria Ceramics share has exhibited a notable increase over recent weeks, ascending from the level of 100 DEMA, which coincides with previous swing lows, thereby indicating the presence of a robust support zone. This upward trajectory has been bolstered by positive crossovers within the MACD histogram signal, suggesting a bullish sentiment. Furthermore, the stock demonstrates an attractive risk-reward ratio and appears resilient from a short-term perspective.

Hence, we recommend to ‘Buy’ KAJARIACER around ₹1,230-₹1,220 | Stop-loss: ₹1,175 | Target: ₹1,300-₹1,320.

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