RVNL, Praj Ind: Two stocks that Mehul Kothari of Anand Rathi is bullish on

The stock of RVNL has confirmed a range breakout above Rs 32.50-mark. he stock has potential to test Rs 35-mark in the coming sessions

BUY RVNL NEAR Rs 32.50 | TARGET: Rs 34.50 | STOP LOSS: Rs 31.50

The stock of RVNL has confirmed a range breakout above Rs 32.50-mark. The price action was supported with decent volumes and the stock has managed to close well above 200-day moving average. The stock has potential to test Rs 35-mark in the coming sessions. Thus, we advise traders to buy the stock near Rs 32.50 for a target of Rs 34.50 in the coming sessions.

BUY PRAJIND NEAR Rs 405 | TARGET: Rs 435 | STOP LOSS: Rs 390

During the latest trading session, we witnessed huge upside momentum in PRAJIND wherein the stock confirmed a breakout above Rs 400-mark. The breakout pattern resembles bullish Cup and Handle. The price action was supported with humongous volumes. Thus, we advise traders to buy the stock near Rs 405 for a target of Rs 435 in the coming sessions.

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Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. Views are personal