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Top stock picks by Nilesh Jain of Anand Rathi: Buy HCL Tech, HDFC AMC

A fresh buy crossover can be seen on MACD indicators for HCL Tech, and RSI has reversed from the oversold territory which hints at a strong pullback in the short term

HCL Tech is trading above its short-term and long-term moving averages | Photo: Shutterstock.com
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HCL Tech is trading above its short-term and long-term moving averages | Photo: Shutterstock.com

Nilesh Jain Mumbai
BUY HCL TECH | TARGET: Rs 880 | STOP LOSS: Rs 810

The stock is trading in a falling channel and is on the verge of a breakout from the same. It has also formed a bullish engulfing candlestick pattern on the daily chart which indicates a bullish reversal. Further, the stock is trading above its short-term and long-term moving averages. A fresh buy crossover can be seen on MACD indicators and RSI has reversed from the oversold territory which hints at a strong pullback in the short term.

BUY APL LTD | TARGET: Rs 1,030 | STOP LOSS: Rs 965

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First Published: Nov 27 2020 | 7:58 AM IST

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