JB Chem, Divis Labs among top stock recommendations by Vinay Rajani

Vinay Rajani of HDFC Securities says Divis Labs share price has broken out from the box pattern on the daily chart with the primary trend of the stock staying bullish

Nifty price prediction

Nifty outlook: On the technical front, the recent swing high of 26,373 will act as immediate resistance, while 26,100 is expected to serve as a key near-term support zone.

HDFC Securities stock recommendations, Jan 7:

Buy Divis Lab (CMP: ₹6644) | Stop loss: ₹6,540 | Share price target: ₹6,995

Divis Labs share price has broken out from the box pattern on the daily chart. Primary trend of the stock is bullish with 'Higher tops and Higher bottoms'. Divis Labs stock price has risen with the jump in volumes on the daily charts. Besides, the pharma stock is placed above all key moving averages, indicating uptrend on all time frames. Daily RSI is sustaining above 50, indicating sustained uptrend for the underlying.

 

Buy JB Chem & Pharma (CMP: ₹1,877) | Stop loss: ₹1,780 | Share price target: ₹1,990

JB Chem share price has broken out from the 'Double Top' resistance on the daily chart. The primary trend of the stock has been

bullish with 'Higher tops and Higher bottoms' on the weekly charts. he stock is placed above all key moving averages, indicating uptrend on all time frames. Weekly RSI is sustaining above 50, indicating sustained uptrend for the underlying. MACD is placed above signal and zero line on both weekly and monthly charts.      ======================  Disclaimer: This article is by Vinay Rajani, senior technical and derivative analyst, HDFC securities. Views expressed are his own.