BUY ADANI PORTS | TARGET: Rs 790 | STOP LOSS: Rs 678
ADANIPORTS has been in a secular uptrend for quite a long time and has managed to gauge the market volatility. In recent times, it has seen some correction from its lifetime highs and, in the last two days, it witnessed a reversal from the support of its 21 DEMA on the daily chart indicating bullishness in the counter. On the oscillator front, 14 period RSI has also seen a resurgence from the previous swing low and is all set to march northwards in the coming future.
BUY CHOLAFIN | TARGET: Rs 625 | STOP LOSS: Rs 535
CHOLAFIN has witnessed consolidation range breakout on the back of robust trading volumes in the last trading session and has made a fresh lifetime high suggesting inherent strength in the counter. Even the stock is in the cycle of higher highs, higher bottoms and on the oscillator front, has witnessed a golden crossover on the 14-period RSI indicating the bullishness to remain intact for the near future.
BUY JUST DIAL LTD | TARGET: Rs 1,000 | STOP LOSS: Rs 840
JUSTDIAL has re-tested its rising channel breakout and rebounded from the same with a spurt in trading volume indicating inherent strength in the counter. Also on the daily time frame, 21 DEMA has acted as a major support zone supporting the continuation of the ongoing higher highs higher lows formation in the counter followed by the reversal from the mean of its Bollinger band affirming to maintain the bullish stance for the near future.
Disclaimer: Osho Krishan is senior manager – equity research at Anand Rathi Shares & Stock Brokers. Views are personal