BUY GRASIM | CMP: Rs 1,401 | Target: Rs 1,600-1660 | Stop Loss: Rs 1,220
The stock, after the recent correction, has bottomed out near 1260 levels and has currently picked up momentum to move past the significant 50-EMA level of 1315 to improve the bias. The chart looks attractive and, with the RSI also improving with a trend reversal, the indicators suggest strength to signal a buy. We advise to buy and accumulate this stock for an upside target of 1600-1660 keeping the stop loss of 1220. CLICK HERE FOR THE CHART
BUY BHARAT FORGE | CMP: Rs 610 | Target: Rs 700-720 | Stop Loss: Rs 560
The stock has bottomed out near 560 levels after forming a double bottom pattern in the daily chart and has currently picked up momentum to move past the significant 50EMA level of 596 to improve the bias. The stock has potential to rise further till 660 levels and, with the RSI also improving the bias and indicating strength, and we anticipate a decent upmove from hereon. We suggest to buy and accumulate this stock for an upside target of 700-720 keeping the stop loss of 560. CLICK HERE FOR THE CHART
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.