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Stock recommendations by Nilesh Jain of Anand Rathi: Buy UPL, Sell M&M Fin

The stock of UPL is making a higher top and higher bottom formation on the daily chart which indicates every decline will attract fresh buying interest from lower levels

M&M Fin stock has provided structural breakdown with higher than average volume
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M&M Fin stock has provided structural breakdown with higher than average volume

Nilesh Jain Mumbai
SELL M&M FIN | TARGET: Rs 115 | STOP LOSS: Rs 132

The counter has provided structural breakdown with higher than average volume. It is also making a lower top and lower bottom formation on the daily chart. The momentum indicator RSI has also reversed from higher levels on the weekly scale which hits of a trend reversal. If we take the retracement of the entire recent rally then 61.8% retracement is placed at 115 levels which can be the short term targets.

SELL BHARAT FORGE | TARGET: Rs 420 | STOP LOSS: Rs 475

The stock has formed a double top formation

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First Published: Sep 22 2020 | 8:00 AM IST

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