Domestic brokerage firms including Ashika Stock Broking and SMC Global are positive on the select stocks, namely- including Titan Company, Varun Beverages, AIA Engineering and The Ramco Cements- the ongoing volatility in the broader markets. The brokerage firms believe that these stocks are headed for a strong upside in the near term on the basis of their sound technical setup. Here what the brokerage firms has to say:
Varun Beverages | Target Price: Rs 1,500 | Upside Potential: 12%
Varun Beverages is on the verge of breakout above the last three months’ range (Rs 1,400-1,250) signalling the resumption of up move and offering fresh entry opportunities. The stock has recently rebounded taking support at the 100 DMA, currently placed at Rs 1,268 and the rising demand line joining lows since August 2022 signalling a positive price structure. The daily 14 period RSI is in an uptrend and is seen rebounding taking support at its nine periods average thus validating positive bias. Hence one can expect the stock to continue with its positive momentum and head towards Rs 1,500 levels in the coming weeks.
Recommended by: Ashika Stock Broking
The Ramco Cements | Target Price: Rs 810-820 | Stop Loss: Rs 700 | Upside Potential: 10%
The Ramco Cements recovered sharply and once again reclaimed momentum above Rs 700 levels in a short span of time. From the last two months, the stock has been trading in a broader range of Rs 700-745 while flirting around its 200-day exponential moving average. Last week, the stock has caught up momentum above the ‘rectangle pattern’ after a prolonged consolidation phase. The price action is accompanied by positive divergences on secondary oscillators which points towards the next upswing into the prices. Therefore, one can buy stock in the range of Rs 740-745 levels for the upside target of Rs 810-820 levels with a stop loss below Rs 700 levels.
Recommended by: SMC Global
AIA Engineering | Target Price: Rs 3,150 | Upside Potential: 11%
AIA Engineering continues to form a higher peak and higher trough in all time frames. The stock has generated a breakout above a bullish flag formation, indicating a continuance of positive momentum and offering a fresh entry opportunity. The stock is seen rebounding, taking support from the 100-DMA. The daily 14 periods RSI has generated a buy signal moving above its nine periods average thus validating positive bias. Hence one can expect the stock to resume up move and head towards Rs 3,150 levels in the coming sessions.
Recommended by: Ashika Stock Broking
Titan Company | Target Price: Rs 2,700-2,750 | Stop Loss: Rs 2,300 | Upside Potential: 11%
Titan Company has been trading lower and can be seen maintaining its downtrend with the formation of a lower bottom pattern on daily and weekly intervals. Recently, the recovery has been witnessed in the prices as once again the stock has managed to close well above its 200-day exponential moving average on the daily charts. Technically the stock has managed to catch up with momentum above its falling trend line of a long-term, bearish channel. Therefore, one can buy stock on dips in the range of Rs 2,475-2,450 levels for the upside target of Rs 2,700-2,750 levels with a stop loss below Rs 2,300 levels.
Recommended by: SMC Global
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
PN
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