Looking for stock ideas? Marico, Blue Star among key bets; here's why

Blue Star stock has demonstrated a robust move in the last couple of trading weeks and has witnessed a 'Cup and Handle' pattern breakout on the daily chart.

Stocks to Buy Today, September 1 - Recommendations by Osho Krishan, Angel One

NSE Scrip: Blue Star

View:   Bullish 

  Last close: ₹1,881 

Blue Star has demonstrated a robust move in the last couple of trading weeks and has witnessed a ‘Cup and Handle’ pattern breakout on the daily chart. In the recent period, the stock has retraced to the neckline of the breakout, coinciding with the 200 DSMA, and is likely to gain traction. The alignment of momentum indicators with the positive crossover among EMAs and the favourable alignment of Super Trend in the recent period indicates the likelihood of sustained momentum in the foreseeable future.

 

Hence, we recommend to 'Buy' Blue Star around ₹1,880-1,870 | SL: ₹1,790 | Target: ₹2,050-2,100

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NSE Scrip: Marico

  View: Bullish 

  Last Close: ₹725 

Marico has seen a retracement in recent times, followed by a multi-week breakout on the daily chart structure. The stock has been hovering slightly above its 20 DEMA, with bullish biases. Additionally, the counter has exhibited a higher low formation on the daily chart and has displayed a positive crossover on the technical indicators, further enhancing the bullish sentiment. Also on the

indicator front, the 14-period RSI is on the verge of a positive crossover, and from a risk-reward point of view, the counter is firmly aligned with a favorable setup from a short to medium-term perspective.

Hence, we recommend to 'Buy' Marico around ₹720-710 | SL: ₹685 | Taregt: ₹770-780

(Disclaimer: Osho Krishan is senior analyst of technical & derivatives at Angel One. Views expressed are his own.)