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Stock Recommendations
NSE Scrip: Asian Paints
View: Bullish
Last close: ₹2431
Asian Paints has demonstrated a robust recovery in the last week and has now surpassed all major EMAs on the daily chart. The stock has retraced nearly 61.80 per cent of the recent rally and again has gathered, gaining traction post its quarterly earnings, suggesting potential for increased momentum in the short term. The alignment of momentum indicators with the positive crossover among EMAs and the robust increase in trading volumes in the recent period indicates the likelihood of sustained momentum in the foreseeable future.
Hence, we recommend to Buy Asian Paints around of ₹2400 | SL: ₹2300 | TGT: ₹2540-2570
NSE Scrip: Schaeffler
View: Bullish
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Last close: ₹4110
Schaeffler has seen a decent surge in recent times, followed by consolidation resembling a ‘Flag’ pattern on the daily chart structure. The stock has been hovering near its 20 DEMA, with bullish biases. Additionally, the counter has witnessed a higher low formation on the daily chart and has showcased a positive crossover on the technical indicators, adding to the bullish quotient. 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 Schaeffler around ₹4100-4050 | SL: ₹3800 | Target: ₹4450-4700
(Disclaimer: Osho Krishan is senior analyst of technical & derivatives at Angel One. Views expressed are his own.)
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