Following technical calls have been recommended from short to medium term perspective by analysts at leading broking firms:
IDBI Capital
1. Jay Shree Tea & Industries - (Duration: 4-5 weeks)
`Buy` at cmp and on dips to Rs 88 for a target of Rs 100 with a strict stop loss placed below Rs 86.
Yesterday, Jay Shree Tea has formed an Engulfing Bullish Candle on the daily charts. The stock has witnessed a downward sloping resistance line breakout. Also, the momentum averages have converged and indicates a positive crossover. On the oscillator`s front; RSI & MACD are placed with positive signals on the daily charts. Therefore, traders can buy the stock at cmp and on dips to Rs 88 for a target of Rs 100 with a strict stop loss placed below Rs 86
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2. Gujarat Gas Company - (Duration: 4-5 weeks)
`Buy` at cmp and on dips to Rs 302 for a target of Rs 338 with a strict stop loss placed below Rs 294.
Yesterday, Gujarat Gas has formed An Engulfing Bullish Candle on the daily charts. After witnessing a resistance line breakout the set up is poised for a technical bounce from the current levels. On the oscillator`s front; RSI & MACD have indicated a positive crossover on the daily charts. Therefore, traders can buy the stock at cmp and on dips to Rs 302 for a target of Rs 338 with a strict stop loss placed below Rs 294.
RK Global Shares & Securities
3. Coal India - (Duration 1-2 weeks)
`Sell` at Rs 360 for target of Rs 345 with stop loss (on daily closing basis) Rs 367.
The stock has closed on bearish mode with a short term trend line break down. It closed with a big black body candle patternand closed below both the short-term Moving average. Chartpattern suggest closing below Rs 360 is an indication of further weakness, while both the leading indicators are on bearish mode. So we recommend a sell call for the target of Rs 345 (200DEMA).
Shilpa Stock Broker (SSBPL)
4. Dish TV India - (Duration 1 week)
`Buy` above Rs 79.75 for target of Rs 82.50 with stop loss of Rs 77.75.
After flat opening stock has witnessed buying in later part of the day and finally ended with `Long White Candle` a bullishcandlestick pattern with strong volume on daily chart
Oriental Bank of Commerce is a ‘BUY’ call with a target of Rs 306 and a stop loss of Rs 285.
Gujarat Gas Company Ltd is a ‘BUY’ call with a target of Rs 350 and a stop loss of Rs 315.
Tata Power Company Ltd is a ‘BUY’ call with a target of Rs 116 and a stop loss of Rs 104.
NTPC Ltd is a ‘SELL’ call with a target of Rs 161 and a stop loss of Rs 167.5.
United Breweries Ltd is a ‘BUY’ call with a target of Rs 754 and a stop loss of Rs 714.
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