Market Trading Guide: Divi's Laboratories, Oberoi Realty among 4 stock recommendations for Monday
, ETMarkets.com|
"The short-term trend of Nifty has turned into positive. The next upside levels to be watched are around 25,000-25,100 in the near term. Immediate support is placed at 24,650 levels," said Nagaraj Shetti of HDFC Securities.
Here are 4 stock recommendations for Monday:
ETMarkets.com
Stop Loss: Rs 4,550
On the daily chart, Divi's Laboratories Ltd has recently broken out from a rectangle pattern, signaling a potential upward trend for the stock. Moreover, the price has taken support of the Fast (21) Ema and Slow (50) EMA which will act as support in the coming days. Price trading above the EMA's is indicating a positive trend. On the Momentum front, RSI is heading towards north which confirms the bullish stance in the script.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
Agencies
Stop Loss: Rs 932
Piramal Enterprises Ltd is displaying bullish signals on its daily chart. It took a breakout of the cup and handle pattern on the daily chart and has recently shown a positive candlestick. The RSI is trending upwards again, indicating optimism as it trades near its recent highs. The stock is also above both the Fast (21) EMA and Slow (34) EMA, confirming a positive trend.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
IANS
Stop Loss: Rs 932
The stock has given a sideways trend breakout or range breakout on the daily chart. The stock is sustaining above its short-term 14-day and 21-day moving averages. RSI is in a bullish crossover on the multi-timeframe chart. One can buy the stock in the range of 98-100 with a stop-loss at 93 and a potential target of 116.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETMarkets.com
Stop Loss: Rs 1,669
The stock has moved up after a piercing line pattern formation on the daily chart. Besides, the stock has reclaimed the 21 EMA on the daily timeframe. Additionally, the RSI (14) has formed a rounding bottom pattern. Over the short term, the stock might move towards 1,900; while a support is placed at 1,670.
(Rupak De, Senior Technical Analyst, LKP Securities)
(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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