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Last Updated : Feb 14, 2017 03:31 PM IST | Source: Moneycontrol.com

Hot on the charts: 3 stocks Reliance Securities is bullish on

NIIT Tech will see an up-move in the short-term, as rise in Stochastic & RSI from their oversold zone & crossover of its short term averages.As per the current daily set-up, we believe REC will continue its up-move and soon record fresh 52-week high

 
 
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Reliance Securities recommends buy call on NIIT Tech, REC Ltd & Larsen & Toubro

NIIT TECH:
CMP: 425| RECO: BUY | TARGET: 468| STOP LOSS: 399



  • The stock is consolidating in a trading band of 450-400 levels from last 24 weeks ready for a breakout in the coming few weeks with the overall sector in momentum.

  • We believe the stock will see an up-move in the short-term, as rise in Stochastic & RSI from their oversold zone & crossover of its short term averages.

  • However, in case of major decline multi-month support of 400 will continue to work as key support for the stock.



REC LTD

Close

CMP: 146 | RECO: BUY | TARGET: 155| STOP LOSS: 137


  • The stock reversed taking support of its short-term moving average 20-day EMA and rose to four day closing high.

  • Turn around in RSI from its neutral line (placed around 50-mark) is indicating strength in the stock.

  • As per the current daily set-up, we believe the stock will continue its up-move and soon record fresh 52-week high.

  • On the lower side, its short & medium-term moving averages 20-day & 50-day EMA respectively will work as a key reversal point.



Larsen & Toubro


CMP: 1502 | RECO: BUY | TARGET: 1595 | STOP LOSS: 1425



  • The stock reversed taking support of its 50% Fibonacci Retracement level of prior up-move (1,004-1,595) and long-term moving average 200-week SMA and later it managed to recover prior damages.

  • Two weeks back, stock has given break-out from the short-term falling trend line and rose to three and half month high thereafter.

  • Steady rise in key technical indicators-RSI & MACD post their positive cross-over is signaling strength in the stock.

  • As per the current weekly set-up, we believe that the stock will continue its up-move and soon revisit prior swing high.

  • On the lower side, the stock will find support around its medium to long-term moving averages and break-out line.




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First Published on Feb 14, 2017 10:18 am
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