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Avenue Supermarts extends gains into fourth straight day, hits record high
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BUY Avenue Supermarts Limited | TARGET: Rs 3,180 | STOP LOSS: Rs 2,775
DMART has witnessed consolidation range breakout on the back of notable increase in trading volumes in the last session and settled near the cluster of short and medium-term exponential moving averages on the daily chart. Even the stock has rebounded from its 100 DEMA and on the oscillator front, has witnessed a golden crossover on the 14-period RSI indicating the bullishness to remain intact for the near future.
BUY HDFC Asset Management Company Limited | TARGET: Rs 3,250 | STOP LOSS: Rs 2,840
HDFCAMC has corrected from its recent high of 3360 odd levels and has consolidated near the 61.80% of the Fibonacci retracement of the recent low of 2070 to the swing high of 3360 odd levels. The stock is hovering just above its 21-DEMA indicating a short-term uptrend and far above the long-term exponential moving average suggesting a bullish trend. On the oscillator front, the MACD is hovering well above the signal line indicating inherent strength in the counter.
BUY Mphasis Limited | TARGET: Rs 1,920 | STOP LOSS: Rs 1,650
MPHASIS has been trading in the cycle of higher highs higher lows on all time frames indicating inherent strength in the counter. In recent times, it has witnessed addition in trading volumes suggesting strong hands accumulating the counter at higher levels. On the oscillator front, the MACD is placed comfortably above the signal line affirming the bullishness to remain intact and also, depicting it to move in uncharted territory in near future.
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Disclaimer: Osho Krishan is senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views are personal
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