Buy Titan Company in range of Rs 382-388, Target Rs 465, Stop loss Rs 344 We have identified Titan from the consumption space. The stock is also getting help from rising gold prices, which are currently at their highest level since August 2014.
The price is still near the congestion zone of Rs 370-390, throwing up a strong risk-reward perspective. The delivery Z-score has consistently been above 1, suggesting delivery pick-up recently, suggesting accumulation in the recent consolidation. Buy Grasim Industries in range of Rs 3590-3620, Target Rs 4340, Stop loss Rs 3265
The cement sector was one of the first sectors that attracted buying momentum as the Nifty reverted from its January lows of 8065. Since then, buying has been intact in the stocks and is now percolating into stocks like Grasim.
"The stock has started to move up. We believe it is likely to hit new highs in the coming trading sessions, as sector leader UltraTech has exhibited a strong uptrend and Grasim is the holding company of the same. The Delivery Z score has been constantly hovering in the positive territory near 0.6, suggesting buying since December expiry", says ICICIdirect.com research report.
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