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Last Updated : Jan 22, 2018 09:13 AM IST | Source: Moneycontrol.com

3 hot technical stocks recommendation by Reliance Securities

The stock moved higher after a trend line break-out, where its short-term moving averages and break-out line worked as key reversal point and helped it to continue the northward journey.

 
 
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PVR Ltd

CMP: 1469| RECO: BUY| TARGET: 1650| STOP LOSS: 1370

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  • The stock moved higher after a trend line break-out, where its short-term moving averages and break-out line worked as key reversal point and helped it to continue the northward journey.

  • Major technical indicators are positively poised above their averages.

  • We believe that the stock will keep moving higher and it will revisit the life-time-high.

  • In case of any decline, its short-term moving averages will continue to work as key reversal point with strong support placed around its break-outline.

  • Thus, long position can be initiated here for the target of Rs1650 with a stop loss of Rs1370.


 CAN FIN HOMES LTD

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CMP: 475| RECO: BUY| TARGET: 540| STOP LOSS: 445

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  • The stock reversed after taking support of horizontal trend line and closed the session on a positive note.

  • Due to recent turnaround, RSI and Stochastic have given positive cross-over.

  • Though MACD is still trading below its average, we believe that further increase in price will support bullish cross-over in the indicator.

  • As per the current daily set-up, we believe that the stock will surpass all the near-term hurdles of moving averages and move higher.

  • On the lower side, the stock will find support around the multiple lows.

  • Thus, long position can be initiated here for the target of Rs540 with a stop loss of Rs445.


BAJAJ AUTO LTD

CMP: 3210| RECO: BUY| TARGET: 3420| STOP LOSS: 3100

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  • The stock reversed after taking support of its long-term moving average 100-day EMA and SMA, signaling trend reversal in the stock.

  • Due to recent turnaround, RSI and Stochastic also reversed from their oversold zone and given positive cross-over.

  • Though MACD is still trading below its average, recovery in Histogram is signaling that indicator is on the verge of bullish cross-over.

  • We believe that the stock will cross near-term hurdles and record new high.

  • Thus, long position can be initiated here for the target of Rs3420 with a stop loss of Rs3100.



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First Published on Jan 22, 2018 09:13 am
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