These are top picks by Osho Krishan of Angel One for August 05

Stock Recommendations

NSE Scrip – IEX
 

View -   Bullish

Last Close – 195.32

IEX witnessed a substantial increase in price in the last couple of trading sessions from the 21 DEMA on the daily chart. Additionally, the counter witnessed a run-away gap, followed by a V-shaped recovery on the daily time frame, construing a positive development. From a technical standpoint, the counter has gained significant traction in terms of volumes lately, which is likely to augur well from a short to medium-term outlook. On the oscillator front, the MACD signals a continuation

move, suggesting a potential upside journey in a comparable period.

Hence, we recommend to BUY IEX around Rs 192-190 | SL: Rs 178 | Target: Rs 215-220
 

NSE Scrip – M&M Fin 

View -   Bullish

Last Close – Rs 305.45

M&M Fin witnessed a decisive multi-week breakout on a closing basis, soaring nearly 4 percent. The counter has witnessed very strong traction in the last couple of trading weeks and seems poised to continue its northward move in the comparable period. Additionally, the counter witnessed a sloping trendline breakout, adding a bullish quotient to its undertone. On the oscillator front, the 14-period RSI had showcased a positive crossover, and MACD signals a continuation move, suggesting a potential upside journey for the counter.

Hence, we recommend to BUY M&M Fin around Rs 302-300 | SL: Rs 282 | Target: Rs 345

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