Osho Krishan of Angel One recommends buying Marico & JSW Energy on Sept 23

NSE Scrip – Marico

View -   Bullish

Last Close – Rs 709

Marico has showcased a strong resurgence from the pivotal support of the previous breakout on the daily time frame chart and has soared to record-high levels. The price movement has been backed by a noticeable increase in trading volumes, construing a robust sentiment in the counter.

Going ahead, the breakout on the daily chart is likely to trigger bullish traction in the comparable period. From a technical perspective, the indicators have rebounded to witness a positive crossover, signalling a bullish trend in the stock. 

Hence, we recommend to ‘Buy’ Marico around Rs 700 | Stop Loss: Rs 660 | Target: Rs 780

 

NSE Scrip – JSW Energy

View -   Bullish

Last Close – Rs 782.35

JSW Energy is in a stellar up move, hovering in a cycle of higher highs – higher lows on all the time frame charts. In the recent session, the counter has showcased a decisive spurt in price and volumes, suggesting the continuation of the uptrend. Also, on the oscillator front, MACD signals a strong momentum, suggesting a potential upside journey into uncharted territory for the counter. 

Hence, we recommend to ‘Buy’ JSW Energy around Rs 780-770 | Stop Loss: Rs 730 | Target: Rs 860

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