Shrikant S. Chouhan, Senior Vice President - Technical Research, Kotak Securities recommends the following stocks:
DLF: BUY: 175.30 / Stop-Loss: 169 / Target: 194
Nifty Realty Index has outperformed the Nifty by 32 percent in 2017. Stock has formed inverse head & shoulder on monthly charts and current move is just retracement or a throwback of its spectacular move. Trader as well as investor who are bullish on India Story should look to buy at currently levels with high risk to reward ratio.
BEML: BUY: 1233.75/ Stop-Loss: 1190/ Target: 1280
Stock has retraced to support levels of 1130, which were also its previous peaks. Also, the stock has formed a reversal formation on weekly charts. On a daily scale, stock has managed to maintain a gap, and has made a pivot low of 1209. Long positions should be taken at current levels.
PAGE Industries: BUY: 14937.55 / Stop-Loss: 14500 / Target: 16000
Stock is trading in an upwards sloping channel and is consistently testing its top and bottom. On daily charts the stock broke upward of a pennant formation, after testing its bottom. Surge in volumes in the past couple of trading sessions indicate interest from major players. Long positions should be taken at current levels.
Bharat Electronics Ltd: BUY: 169.15 / Stop-Loss: 164 / Target: 184
Stock has formed a flag formation on a monthly chart and it broke on the upside with good amount of volumes in the bigger time frame. Flag pattern gives us a target price of 240. On daily time frame stock is consistently taking support of a rising trend line, and is currently available at support. Both long-term and short-term charts look positive for the stock. Investor and Traders both should look at adding this stock in their basket.
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