Amid the increasing fad in the Indian securities market in the last couple of sessions, Rupak De, Senior Technical Analyst at LKP Securities, a residential broker agent company has actually shared 3 supplies- Chennai Petroleum Corporation Ltd, Zydus Lifesciences Ltd and Alkem Laboratories Ltd- from a trading viewpoint. The expert has actually recommended to long all the 3 counters. Here’s what the expert needs to claim concerning these counters:
Chennai Petroleum Corporation|Buy|Target Price: Rs 950-970|Stop Loss: Rs 900
Chennai Petro has actually located assistance from an increasing trendline on the everyday graph, and as long as it remains over that line, the fad needs to stay solid. The RSI is revealing a favorable signal and is climbing up. The supply has actually likewise restored its 200-DMA. On the advantage, it can relocate in the direction of Rs 950-970, while on the disadvantage, it has assistance at Rs 900.
Zydus Lifesciences|Buy|Target Price: Rs 1,095-1,120|Stop Loss: Rs 1,029
After a long term modification, Zydus Life has actually developed a hammer pattern on the everyday graph, showing enhancing positive outlook. The RSI is close to being oversold, and the supply has actually located assistance at a previous rate degree. On the advantage, it might relocate in the direction of Rs 1,095-1,120, while on the disadvantage, the supply has assistance at Rs 1,029.
Alkem Laboratories|Buy|Target Price: Rs 6,360-6470|Stop Loss: Rs 6,069
Alkem Labs has actually increased after creating a favorable harami pattern on the everyday graph. It just recently restored its 21-day rapid relocating standard, and the RSI is revealing a favorable signal. On the advantage, it might relocate in the direction of Rs 6,360-6,470, while on the disadvantage, the supply has assistance at Rs 6,069.
Disclaimer: Business Today gives securities market information for informative objectives just and need to not be taken as financial investment recommendations. Readers are urged to speak with a certified economic expert prior to making any kind of financial investment choices.
