Dhani Services, Relaxo: Two stocks that Gaurav Garg is bullish on

Buy Dhani Services Limited (Above Rs 365)

Target: Rs 393

Stop loss: Rs 345

The stock is forming bullish flag pattern on daily charts, and breaking its resistance might push the stock to its 52-week high. It might show further strength if it moves above 365. The stock is also sustaining above important moving averages. We recommend buying the stock above 365 for the target of Rs 393, keeping a stop loss at Rs 345 on a closing basis.

Buy Relaxo Limited (Above Rs 900)

Target: Rs 948

Stop loss: Rs 876

The stock is sustaining at its major resistance. A breakout from the level of 900 might show good momentum. Further, the stock is also sustaining above its important moving averages. It has given breakout in MACD on daily charts, signalling more strength in the next few weeks. We recommend buying the stock above 900 for the target of Rs 948, keeping a stop loss at Rs 876 on a closing basis.

Disclaimer: Gaurav Garg is Head of Research at CapitalVia Global Research Limited- Investment Advisor. The analyst does not hold position in any of the stocks mentioned above. Views expressed are personal.

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