BUY HDFC AMC | CMP: Rs 2,929 | Target: Rs 3,350-3,400 | Stop Loss: Rs 2,770
The stock has made a good base near 2,770 levels taking support on thrice occasions and reversing from that level. The RSI has also improved its bias and with the stock moving above the 50-EMA level of 2,935, it has further shown strength. We anticipate further upward movement in the coming days. We suggest to buy and accumulate the stock for an upside target of 3,350-3,400, keeping the stop loss of 2,770. CLICK HERE FOR THE CHART
BUY HERO MOTOCO | CMP: Rs 2,894 | Target: Rs 3,300-3,380 | Stop Loss: Rs 2,720
The stock has corrected well from the peak of 3,620 levels and has currently shown signs of bottoming out near 2,740 levels and is indicating a reversal pattern. The RSI has also witnessed a trend reversal to signal a buy and has improved the bias. The chart looks attractive and we anticipate for further upside movement in the coming days. We suggest to buy and accumulate the stock for an upside target of 3300-3380 keeping the stop loss of 2720. CLICK HERE FOR THE CHART
====================
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU