Prabhudas Lilladher suggests these 2 stocks to buy as medium term top picks
2 min read . Updated: 07 Nov 2022, 03:22 PM IST
Premium- The brokerage house has recommended two stocks as part of its medium term top picks
As part of its medium term top stock picks, domestic brokerage and research firm Prabhudas Lilladher has suggested two stocks that investors can look to buy based on the technical factors. The two stocks are Ramco Cements Ltd and Crompton Greaves Consumer Electricals Ltd.
2 stocks to buy as recommended by Prabhudas Lilladher-
Ramco Cements: “The stock after a decent consolidation near ₹700-705 has gradually picked up momentum with improving bias moving past the 50 EMA level of ₹725 and currently on the verge of crossing the significant 200DMA also to further strengthen the trend. The relative strength index (RSI) is on the rise from the oversold zone and is on the rise to show strength signaling a buy in this stock . We recommend a buy in this stock for the upside target of ₹825 keeping a stop loss of ₹703," the note stated. Established in 1957, Ramco Cements, part of the Ramco Group, is a cement manufacturer headquartered in Chennai.
Crompton Greaves: “The stock after a decent correction has bottomed out near ₹345-348 levels which is the support zone of the ascending channel pattern and with a prominent pullback witnessed has improved the bias with further rise anticipated. The RSI also has indicated a trend reversal from the highly oversold zone and is on the rise to show strength signaling a buy in this stock . We recommend a buy in this stock for the upside target of ₹422 keeping a stop loss of ₹347," the brokerage house suggested.
Crompton Greaves is one of the leading consumer companies in India, manufacturing products ranging from fans, light sources and luminaires, and markets its products under the ‘Crompton’ brand name in India and select export markets.
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