BUY OIL & NATURAL GAS CORPORATION | TARGET: Rs 124 | STOP LOSS: Rs 110
ONGC witnessed a strong closing in the last trading session after a gap up opening, signalling trend reversal in the counter. On the daily time frame, strong demand is seen near 100 DEMA as the stock has reversed from the oversold region on the oscillator front, 14-period RSI and witnessed a positive crossover. At the current juncture, the stock is placed at the lower band of the Bollinger (20, 2) that has historically provided strong demand. Hence, from a risk-reward point of view, ONGC is situated at a lucrative level to accumulate from a short to even medium-term perspective.
BUY HEMISPHERE PROPERTIES INDIA | TARGET: Rs 170 | STOP LOSS: Rs 148 There has been a gradual increase in trading volumes in the stock over the past couple of trading sessions. The stock recently witnessed a ‘sloping trend-line breakout, affirming inherent strength. The 14 period RSI has seen positive crossover and is headed northwards. Further, recent chart structure on the Bollinger band suggests near term outburst in the channel, confrming bullish stance in the counter.
BUY PRISM JOHNSON | TARGET: Rs 152 | STOP LOSS: Rs 127 Prism Johnson has been consolidating since the last few sessions. Although, it has been able to sustain above the mean of the Bollinger band, suggesting strength in the counter. On the daily time frame, the stock is situated well above all its major exponential moving averages, and even the leading indicator, Parabolic SAR is situated below the stock price, affirming bullishness in near future.
BUY THYROCARE TECHNOLOGIES LTD | TARGET: Rs 1440 | STOP LOSS: Rs 1300 THYROCARE has been trading in consolidation zone from past few couple of trading sessions and is currently placed near the mean of the Bollinger band suggesting formation of a strong base. In near future, the stock is expected to surge towards its all time highs as the technical indicator, super trend seems charging higher and even the 14 period RSI has almost shown a positive crossover affirming the bullish trend to remain intact in short term time frame.
BUY FDC LTD | TARGET: Rs 404 | STOP LOSS: Rs 350 FDC is in secular uptrend and is in the cycle of higher highs higher lows suggesting inherent strength in the counter. On daily time frame, the stock is placed well above all its major exponential moving averages and hovering near the upper band of the Bollinger (20, 2) affirming the uptrend.
BUY HDFC LIFE INSURANCE COMPANY | TARGET: Rs 780 | STOP LOSS: Rs 620 HDFC Life has corrected over 7 per cent from the recent high of Rs 731 in the last couple of trading sessions amid block deals that took place at a discounted rate. Currently, the stock is placed at its strong demand zone as historically these levels have provided firm consolidation to the counter. Even, the cluster of moving averages is expected to provide a cushion to the fall and gradual recovery could be expected from here on. The sloping trend-line is acting as strong support to the counter, and even the technical indicator, 14 period RSI seems to reverse its trend near the oversold region. All these are the early sign of trend reversal and one may accumulate the stock from a short to medium-term perspective.
| STOP LOSS: Rs 175 The stock has bounced from its 61.80 per cent Fibonacci retracement of the recent surge and has headed higher in the last trading session with a notable increase in the average traded volumes, indicating the formation of a strong base for the counter. The stock has managed to surpass its 200 DEMA in the last trading session, suggesting a reversal in the counter. Also, on the oscillator front, the 14-period RSI has witnessed positive crossover, affirming the overall bullish view in the near term.
BUY EICHER MOTORS LTD | TARGET: Rs 2,900 | STOP LOSS: Rs 2,570 The stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame. Recently, the stock tested the lower band of the Bollinger (20, 2) from where it has bounced and headed strongly towards the mean, suggesting inherent momentum. On the oscillator front, the 14-period RSI has seen a positive crossover in the last trading session, ind