DCM Shriram, Jindal Steel: Mehul Kothari’s stock picks in this volatile mkt

3cf2295445b555561d59bb1f3fe5a501

stocks, sell, share

BUY DCM SHRIRAM IND | TARGET: Rs 118 | STOP LOSS: Rs 88

The technical price structure of majority of the sugar stocks indicates positive price movement in the coming week. The stock of DCM Shriram, too, has confirmed a breakout from the range of 88 – 98 on the daily scale. The breakout was accompanied with rise in volumes which indicates accumulation. Thus, we advise traders to buy the stock in the range of Rs 101 – 97 with a stop loss of Rs 88 on closing basis for the upside potential target of Rs 118 in coming 1 – 2 months.

BUY JINDAL STEEL | TARGET: Rs 510 | STOP LOSS: Rs 430

Despite the market volatility, JINDALSTEL has been doing really well recently. The stock has confirmed a fresh breakout from its previous swing high of 462 with a decisive close. We are also witnessing a breakout in daily RSI above 60 mark. Thus, traders are advised to buy the stock in the range of Rs 468 – 458 with a stop loss of Rs 430 on closing basis for the upside potential target of Rs 510 in coming 1 – 2 months.

======================================================
Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. He may or may not hold any position is the above mentioned stocks. Views are personal.



Source

Total
1
Shares
Leave a Reply

Connect with



Your email address will not be published.

Previous Post
2de6afdf70890a9ead4aa60372105e2b

Nandish Shah of HDFC Sec recommends Bull Spread strategy on Tata Steel

Next Post
b5c72cf80902911bbb734eb58ef27f46

Builders seek housing ministry’s intervention on rising cement, steel prices

Related Posts