Rajesh Bhosale of Angel One recommends buying these stocks on February 10

Over the past few weeks, Redington share has witnessed strong volume activity, culminating in a bullish breakout this week

Stock Recommendations:

  NSE Scrip – Redington 

View -   Bullish

  Last Close – 232 

Over the past few weeks, this counter has witnessed strong volume activity, culminating in a bullish breakout this week. Since April, the stock faced resistance around the 220 level, but it has now closed above it with a strong bullish candle. A continuation bullish pattern is evident on the weekly chart, marking the highest weekly close. We anticipate this positive momentum to persist in the near term. 

Hence, we recommend to BUY Redington around 232 - 230 | SL: 222.4 | TGT: 249

 

NSE Scrip – JSW Steel 

 

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View -   Bullish

  Last Close – 980

  Metal stocks outperformed last week, and this stock has also seen a sharp upward move. On the daily chart, prices have closed above the 61.8 per cent retracement of the recent decline, signaling a resumption of the primary uptrend, supported by strong volumes. The RSI indicator has crossed its previous swing high, reinforcing the positive outlook. Additionally, a bullish crossover is observed, with the 20-DEMA crossing above the 200-DSMA, further strengthening the uptrend.

 

Hence, we recommend to BUY JSW Steel around 980 - 975 | SL: 947 | TGT: 1040  (Discliamer: Rajesh Bhosale is Equity technical analyst at Angel One. Views expressed are his own.)