Dalmia Bharat, Navin Fluorine are must-buy stocks on technicals; Here's why

On the weekly chart, Dalmia Bharat had been trading within a range for the past year and has now given a decisive breakout from a falling channel pattern.

Stock Recommendations:

 

NSE Scrip – Dalmia Bharat

View -   Bullish

Last Close – ₹ 1,966 

On the weekly chart, the stock had been trading within a range for the past year and has now given a decisive breakout from a falling channel pattern. This breakout is backed by a strong surge in volumes, adding conviction to the move. Additionally, the RSI Smoothened, which previously faced resistance around the 50 level, has now crossed above it, indicating a bullish shift in momentum. Considering this overall setup, we expect the uptrend to continue going forward.

 

Hence, we recommend to BUY DALBHARAT around ₹ 1,966 - ₹ 1,960 | SL: ₹ 1,870 | TGT: ₹ 2,160   Follow Stock Market Latest Updates Today LIVE

 

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NSE Scrip – Navin Fluorine International

View -   Bullish

Last Close – ₹ 4,449 

Over the past few weeks, the stock was consolidating within a broad range of ₹ 3,600 – ₹ 4,400, and has now witnessed a range breakout. This move also resembles a Cup and Handle breakout on the weekly chart, further strengthening the bullish bias. The breakout is supported by a sharp rise in volumes, adding conviction to the move. Moreover, the stock is trading well above all key moving averages, reinforcing the positive outlook and supporting a buy call.

 

Hence, we recommend to BUY NAVINFLUOR around ₹ 4,449 - ₹ 4,440 | SL: ₹ 4,280 | TGT: ₹ 4,800

 

(Disclaimer: Rajesh Bhosale is an equity technical analyst at Angel One. Views expressed are his own.)