Trading calls from Nirmal Bang: Buy Tata Steel, HDFC, IRB Infra

Here are three buy calls from Nirmal Bang

TATA STEEL: BUY

Target: Rs 252

Stop Loss: Rs 226

Buy above Rs 235 with stop loss at Rs 226 and target Rs 252. The short term moving averages have converged and are placed with buy signals. On the oscillator front, RSI is placed with a positive signal.

 

HDFC: BUY

Target: Rs 1,260

Stop Loss: Rs 1,170

Buy above Rs 1200 with stop loss at Rs 1170 and target Rs 1260. Daily chart indicates that  stock has given the breakout of the downward sloping trend line with decent volume. RSI is placed with a positive signal on the midway.
 

IRB INFRA: BUY

Target: Rs 264

Stop Loss: Rs 243

Buy above Rs 250 with stop loss at Rs 243 and target Rs 264. The important oscillators RSI & MACD on the daily have turned positive which indicates limited downside potential. The prices are currently trading above the All long term an averages.  

 

Disclaimer

Nirmal Bang Securities Private Limited   (hereinafter referred to as “NBSPL ”)is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and MCX stock Exchange Limited. We  have been granted certificate of Registration as a Research Analyst with SEBI . Registration no. is INH000001766 for the period 23.09.2015 to 22.09.2020.NBSPL or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of more than 1% in the company covered by Analyst (in case any financial interest is held kindly disclose)NBSPL or its associates/analyst has not received any compensation from the company covered by Analyst during the past twelve months. NBSPL /analyst has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity of the company covered by Analyst. The views expressed  are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision .

Vikas S. Salunkhe is a Sr. Technical Research Analyst with Nirmal Bang