Market Trading Guide: LIC, United Breweries among 4 stock recommendations for Thursday
, ETMarkets.com|
"The near-term uptrend of Nifty remains intact. Though, Nifty is consolidating at the higher levels, still there is no confirmation of any significant reversal pattern building at the highs. Further upmove from here could pull Nifty towards 24,900 levels in the next week. Immediate support is at 24,450 levels," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Here are 4 stock recommendations for Thursday:
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Target Price: Rs 325
Stop Loss: Rs 307
A Short Term Pattern Pennant breakout is witnessed in NOCIL on the upside indicating an uptrend in the security. An Increase in volume during the breakout indicates the buyer’s interest in the security. The Fast EMA on the other hand is trending upward which also indicates bullishness in the security. On the Momentum front the RSI after cooling off has started moving in the northern direction supporting the price action.
(Technical Research Analyst, Drumil Vithlani, Bonanza Portfolio)
Buy United Breweries at Rs 2,083-2,020
Target Price: Rs 2,250
Stop Loss: Rs 1,965
The stock price -UBL has been in a sustainable uptrend over the last few months. We observe bullish chart patterns like higher tops and bottoms as per the weekly time frame chart. Presently, the stock price is repeatedly attempting to break above the hurdle of down sloping trend line around Rs 2,120 levels. The stock price has been sustaining above the immediate support of 10-week EMA for the past few months. Volume and RSI show positive indications.
(Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities)
ETMarkets.com
Target Price: Rs 1,195
Stop Loss: Rs 1,040
After showing a gradual upmove in the last few weeks, the stock price has witnessed a decisive upside breakout this week so far. The stock price has moved above the hurdle of down sloping trend line at Rs 1,070 and is currently trading higher. Positive chart pattern like higher highs is intact on the weekly chart. Weekly RSI is placed above 60 levels and the volume has expanded during the upside breakout in the stock price on Tuesday.
(Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities)
Agencies
Target Price: Rs 3,420-3,430
Godrej Properties broke out from a descending channel pattern on short-term charts and is moving towards its upside target of 3,420 - 3,430 levels. The support level is placed at 3285.
(Sanket Thakar, CMT, Founder- Alpha Bot Capital)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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