CUB, Ramco Cements: Top picks by Rajesh Bhosale of Angel One for November 4
Over the past four years, City Union Bank share prices have largely consolidated within a defined range.
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Stock Recommendations:
1. NSE Scrip: City Union Bank (CUB)
View: Bullish
Last Close: Rs 175
Over the past four years, prices have largely consolidated within a defined range. Following a prolonged period of trading within a symmetrical triangle, the upper boundary of this range has been decisively broken, supported by a strong volume surge that confirms a bullish breakout. Additionally, the breakout aligns with an increase in RSI, suggesting momentum is building. The MACD has also crossed above its signal line, further reinforcing the potential for upward movement.
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Hence, we recommend to 'Buy' City Union Bank around Rs 175 - 172 | Stop-loss: Rs 169 | Target: Rs 187
2. NSE Scrip: Ramco Cements
View: Bullish
Last Close: Rs 886
This week, the entire cement sector gained significant attention, this stock as well performed well despite a challenging market environment. With a strong upward move, prices have broken above the previous four-month high range. Additionally, the RSI has crossed the 60 mark, indicating momentum buildup by the bulls, and the volume trend is supportive of this movement.
Hence, we recommend to 'Buy' Ramco Cements around Rs 886 - 880 | Stop-loss: Rs 864 | Target: Rs 940
(Disclaimer: Rajesh Bhosale is equity technical analyst at Angel One Ltd. Views expressed are his own.)
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Topics : Stock calls NSE Nifty50 benchmark index City Union Bank Ltd Ramco Cements stock market trading MARKETS TODAY Indian stock exchanges Indian equities S&P BSE Sensex Nifty50
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First Published: Nov 04 2024 | 7:59 AM IST