Nykaa, Aadhar Housing, Marico top stock calls today; check levels here

Ruchit Jain, head of equity technical research, wealth management at Motilal Oswal Financial Services has recommended buying Nykaa, Aadhar Housing Finance, Marico stocks today

Top stocks to Buy today

Buy Fsn E-Commerce Ventures (Nykaa); CMP ₹224 |SL ₹208 |TGT ₹247

Nykaa has been forming a ‘Higher Top Higher Bottom’ structure on the daily chart which confirms an uptrend as per the Dow Theory. In this week, the stock has given a breakout above its previous swing high resistance , which is a positive sign. The RSI oscillator is also hinting at a positive momentum and thus the daily as well as the weekly charts are hinting at a possible upmove in the near term. .

Buy Aadhar Housing Finance; CMP ₹514 |SL ₹490 |TGT ₹560

This stock had given a breakout form its consolidation phase in mid-July, and has consolidated in a range in last one month. The volumes were good during the breakout, while the previous resistance has now become the support. The 20 DEMA has been acting as a support and the RSI is hinting at a resumption of the positive momentum. 

 

Buy Marico; CMP ₹739 |SL ₹730 |TGT ₹790

Price has given a range breakout at its 'All time high' zones with higher than average traded volumes. The MACD indicator has given a bullish crossover to confirm the uptrend.

 

(Disclaimer: Ruchit Jain is head of equity technical research, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)