Vinay Rajani of HDFC Securities recommends buying these two stocks today

Stock price of Torrent Power is on the verge of breaking out from falling wedge pattern on daily chart. On 31 st July 2024, Stock Price broke out with jump in volumes

For last 7 trading sessions, Nifty has been failing to surpass the resistance of 20 days EMA, currently placed at 24375 odd levels. On the lower side 50 DEMA, placed at 24000 could offer support in the days to come.

Any close below 24000 could result in to fresh breakdown in the Index. Below 24000, Nifty could slide towards 23667 support. Traders should avoid taking longs in Nifty, unless it surpasses 20 DEMA resistance.

Buy Vijaya Diagnostic (837): | Target Rs. 932 | Stop-loss Rs 785

Stock has broken out from symmetrical triangle on the daily chart. Price rise was accompanied by healthy volumes. Stock is trading above all important moving averages, indicating bullish trend on all time frames.

Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts.

Buy Torrent Power (1715): | Target Rs. 1920 | Stop-loss Rs 1669

Stock price is on the verge of breaking out from falling wedge pattern on daily chart. On 31 st July 2024, Stock Price broke out with jump in volumes.

Stock is trading above all important moving averages, indicating bullish trend on all time frames. Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts.

(Vinay Rajani, CMT, is a senior technical & derivative analyst at HDFC Securities. Views expressed are his own)