Stocks to buy today: ICICI Lombard, KFin Tech; check target, stop-loss

Stocks to buy today: ICICI Lombard General Insurance Company has shown impressive growth in the last couple of months, while KFin Technologies has seen a decent move after a phase of consolidation

Top stocks to buy:

NSE scrip – ICICIGI

View - Bullish

Last blose – ₹1,971

 

ICICI Lombard General Insurance Company has shown impressive growth in the last couple of months, hovering in a cycle of higher highs–higher lows. This surge has been accompanied by several key developments, starting with a rounding base formation to surpass 200 DSMA, which suggests that market interest is building and points to the possibility of a reversal in its trend. Additionally, the 14-day RSI signifies a positive crossover, adding a bullish quotient. Overall, these technical indicators suggest that ICICIGI may be entering a period of sustained growth, making it an intriguing option for those looking to invest.  READ STOCK MARKET UPDATES TODAY LIVE

Hence, we recommend to 'Buy' ICICI Lombard General Insurance on dips of ₹1,950-₹1,940 | Stop-loss: ₹1,860 | Target: ₹2,100

 

NSE scrip – KFINTECH

View -   Bullish

Last close – ₹1,272.5

 

KFin Technologies has seen a decent move after a phase of consolidation and is now positioned above all its significant EMAs and the 200-day SMA. 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 higher low formation on the daily chart and is placed well above its 50 per cent Fibonacci retracement of the fall, adding to the bullish quotient. Simultaneously, the technical indicators are in line with the positive momentum and are likely to continue their move in the near period.

Hence, we recommend to 'Buy' KFin Technologies on dips of ₹1,250-₹1,230 | Stop-loss: ₹1,160 | Target: ₹1,380

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