Stocks to buy today: Manappuram Finance, Titan; check target, stop-loss

Stocks to buy today: Manappuram Finance MANAPPURAM) has demonstrated a robust recovery in the last couple of trading weeks and has now surpassed all major EMAs on the daily chart

Stock Recommendations

NSE Scrip – MANAPPURAM

View -   Bullish

Last Close – ₹266

 

Manappuram Finance (MANAPPURAM) has demonstrated a robust recovery in the last couple of trading weeks, and has now surpassed all major EMAs on the daily chart. The stock has retraced to the neckline of the breakout and again has gained traction, suggesting potential for increased momentum in the short term. The alignment of momentum indicators with the positive crossover among EMAs and the robust increase in trading volumes in the recent period indicates the likelihood of sustained momentum in the foreseeable future.

 

Hence, we recommend to Buy MANAPPURAM around ₹264-₹260 | SL: ₹245 | TGT: ₹294-₹300

 

NSE Scrip – TITAN

View -   Bullish

Last Close – ₹3,489

 

Titan Company has seen a decent surge in recent times, followed by consolidation resembling a ‘Double Bottom’ pattern on the daily chart structure. The stock has been hovering slightly above its 20 DEMA, with bullish biases. Additionally, the counter has witnessed a higher low formation on the daily chart and has showcased a positive crossover on the technical indicators, adding to the bullish quotient. Additionally, the SuperTrend has turned bullish after the recent surge, and from a risk-reward point of view, the counter is firmly aligned with a favorable setup from a short to medium-term perspective.

 

Hence, we recommend to Buy TITAN around ₹3,480-₹3,460 | SL: ₹3,350 | TGT: ₹3,630-₹3,680

 

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