Two stocks to buy, recommended by Ankush Bajaj
REDINGTON | Buy at: ₹222; Target: ₹236-242; stop loss: ₹214
The stock has crossed its lifetime high after a prolonged consolidation phase. Additionally, the surge in volume confirms a bullish trend in the near term.
Also read: Wipro fights its way back into the game
BIOCON | Buy at: ₹401.55; target: ₹428-435; stop loss: ₹386
The chart of Biocon has been showing a strong bullish trend for a long time. Today, the stock closed at a lifetime high. Taking a long trade with a small stop-loss could be a good strategy.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Laurus Labs Ltd: Buy above ₹587, stop ₹572, target ₹620
The recent correction has found shares of Laurus Labs taking strong support at the cloud thus propelling the stock higher. With the long body candles in play the move above the recent set of resistance around ₹580 augurs well. The trends in this counter show steady buying interest highlighting possibility of continued upward traction. The robust long body candles are clearly indicating some short covering coupled with some genuine buying. As the momentum indicator ADX/DMI is seen inching higher, we can definitely consider some buying opportunities here.
Also read: Metro Brands had a decent Q3 but remains in the slow growth lane
Anant Raj Ltd: Buy above ₹920, target ₹1,025, stop loss ₹880,
After a sharp bout of profit booking, prices are now seen taking steady support at the TS & KS line. The revival from these levels is indicating the resumption of the upward bias. A strong showing on Thursday highlights positive sentiment. With the bullish bias stepping up once again the RSI is seen heading higher inviting us to go long.
Angel One Ltd: Buy above ₹2,590, target ₹2,775, stop loss ₹2,540
Shares of Angel One have found steady support at lower levels following a pullback from December highs. This pullback has attracted renewed buying interest, with the formation of a long-range candlestick pattern over the past seven trading sessions, signalling potential for further upside. The Relative Strength Index (RSI), which had weakened during the recent decline, is now showing signs of recovery. A positive divergence within the cloud support region reinforces this revival, indicating strengthening momentum.
Two stocks to buy, recommended by MarketSmith India
Bajaj Finance Ltd: Current market price ₹ 7,440 | Buy range ₹7,250–7,480 | Profit goal ₹8,600 | Stop loss ₹6,960 | Timeframe 2-3 months
Paras Defence & Space Technologies Ltd: Current market price ₹1,100 | Buy range ₹ 1,070-1,110| Profit goal ₹1,295 | Stop loss ₹1,018 | Timeframe 2–3 months
Also read | Kotak Bank: Lower cost of funds prevents margin slide
About the analysts: Ankush Bajaj is a Sebi-registered research analyst (registration number INH000010441). Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
Raja Venkatraman is co-founder, NeoTrader.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.