Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• Muthoot Finance Ltd: Buy ₹2,190; Stop ₹2,150; Target ₹2,300
After a sharp rise seen in GOLD, the associated gold financing stocks have been faring quite steadily. The rise of prices of this counter has been quite steady and the recent market correction did not take much sheen from the prices. Post the sharp sell-off that we observed the prices have reached important supports and are seen steadily heading higher. As buying interest emerged once again, consider going long.
• Universal Cables Ltd: Buy above ₹751; Stop ₹733; Target ₹781
This counter after a sharp run is seen finding some steady support at the KS line highlighting the possibility of a revival. Some help from the momentum too has added some colour to the bias. The rebound from lower levels highlights the possibility of resumption of the bullish bias. With the surge moving above value resistance around 380, we can look at more upside in the next few days.
• DLF Ltd: Buy above 735; Stop ₹720; Target ₹770
This real estate counter after long phase of decline shows the buying interest emerge from lower levels. With the buying interest gaining significant momentum in the last session, we can witness some profit booking as the trends have begun showing signs of reversal. Also, the recent profit booking has brought down the RSI to a pullback mode and is now seeing reviving.
Stocks to buy, recommended by MarketSmith India:
● South Indian Bank Ltd: Current market price ₹ 26.03 | Buy range ₹ 25.50–26.25 | Profit goal ₹ 31 | Stop loss ₹ 24.50 | Timeframe 1–2 Months
● eMudhra Ltd: Current market price ₹ 923.35 | Buy range ₹890–930 | Profit goal ₹ 1,040 | Stop loss ₹ 865 | Timeframe 3–4 Months
About the analysts: Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
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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.
