Stock tips, May 19: Concor, TVS Motor among top bets suggested by analyst

CONCOR has shown impressive growth, surging over 12 percent in the past trading week, while, TVSMOTOR has seen a decent move after a phase of consolidation

Stock recommendations:

CONCOR

View - Bullish

Last close – 730.50

 

CONCOR has shown impressive growth, surging over 12 percent in the past trading week. This surge has been accompanied by an increase in average trading volumes, which suggests that market interest is building and points to the possibility of a reversal in its trend. Also, the stock has surpassed its 100 DEMA after a long period.  Additionally, the MACD line signifies a positive crossover near its zero line, adding a bullish quotient. Overall, these technical indicators suggest that CONCOR may be entering a period of sustained growth, making it an intriguing option for those looking to invest.  FOLLOW STOCK MARKET LIVE UPDATES TODAY

 

Hence, we recommend to 'Buy' CONCOR around ₹720 | Stop-loss: ₹668 | Target: ₹800-₹820

 

NSE Scrip – TVSMOTOR

View - Bullish

Last close – 2841.50

 

TVSMOTOR has seen a decent move after a phase of consolidation and is now placed above all its significant EMAs and 200 DSMA. The recent buying traction has been backed by a rise in trading volumes, attributed to positive developments in the counter.  Additionally, the counter has witnessed a ‘Bullish Flag’ formation on the daily chart, adding to the bullish quotient. Simultaneously, the 14-day RSI indicator showcases a positive crossover, suggesting a potential momentum in the near future.

Hence, we recommend to 'Buy' TVSMOTOR around ₹2,820-₹2,800 | Stop-loss: ₹2,640 | Target: ₹3,100

(This article is by Osho Krishan, senior analyst, technical & derivatives, Angel One. Views expressed are his own.)