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Here's why Mehul Kothari recommends buying Balkrishna Inds, HDFC Life

According to the technical analyst from Anand Rathi, Balkrishna Industries is showing immense strength on the 2-hour chart, while the weekly chart of HDFC Life indicates a sharp up move.

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Mehul Kothari Mumbai
BUY
BALKRISIND
TARGET: Rs 2,350
STOP LOSS: Rs 2,125

Balkrishna Industries saw some healthy correction during April 2022 and has bounced above its 200-day exponential moving average (DEMA). Even in the last trading session, on the 2-hour chart the stock gave a nice triangle breakout with huge volume which is an early sign of reversal.

On the 2-hour indicator front, the 14-period RSI (relative strength index) has bounced back from 50 levels along with MACD (moving average convergence divergence) making positive crossover exactly above zero line which is also a sign of great strength.

BUY
HDFCLIFE
TARGET: Rs 625
STOP LOSS: Rs 550

In the recent past, HDFC Life has

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First Published: May 27 2022 | 7:59 AM IST

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