Stocks to buy today, Aug 20: Analyst bets on Nykaa, Tube Investments, JSL

Here are the top picks of Chandan Taparia, head derivatives & technicals, Wealth Management, Motilal Oswal Financial Services

 

Stocks to buy today, August 20

Buy Fsn E-Commerce Ventures (NYKAA) |CMP ₹226 |SL ₹219 |TGT ₹240

Stock has broken out of consolidation zone with a massive bullish candle on the daily chart. It is respecting its 50 DEMA with slight dips being bought into. The RSI momentum indicator is rising which confirms the positive sentiment.  

Buy Tube Investments of India (TIINDIA) |CMP ₹3,152 |SL ₹3,040 |TGT ₹3,450

Price has given a range breakout with higher than average traded volumes on the daily scale. It has closed above its 200 DEMA suggesting a trend change to bullish. The MACD indicator is confirming the upwards momentum.

 

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Buy Jindal Stainless (JSL) |CMP ₹758 |SL ₹740 |TGT ₹800   

Stock has given a channel breakout on the daily scale. Buying was visible across the Metal space which may support the up move. The ADX line is rising which  confirms the strength of the uptrend.

 

(Disclaimer: Chandan Taparia, head derivatives & technicals, Wealth Management, Motilal Oswal Financial Services. Views expressed are his own.)