Devang Shah on how to trade in Biocon, L&T and Godrej Properties
Source: IRIS | 20 Apr, 2018, 05.45PM
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| Rating: NAN / 5 stars. |
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1. Biocon
View-Bullish
''This stock has been a steady mover and is by far, outperforming some of its peer counters in the pharma space. The stock seems to be enjoying its multi-year Bull Run.In addition, prices are well above 10DEMA, indicating short term bullishness in the counter. The stock is trading near all time high, which shows its outperformance in the recent market turbulence. Further, if we try to analyze 'Bolinger Bands', it clearly goes with our bullish stance on the counter. Considering all above scenarios, a strong upside from current levels cannot be ruled out. Thus, we recommend buying this stock at current levels for a target of Rs 699 over the next 10-15 sessions. The stop loss should be fixed at Rs 604.''
2. Larsen & Toubro
View-Bullish
''On the daily chart, post a sharp fall in the month of February from the levels of 1470 the stock prices formed a base on the long-term support around 1260 levels. At the current juncture, prices seem to have resumed the primary uptrend with a bullish breakout seen post-consolidation. Prices are well above 10 DEMA, indicating bullishness in the counter. Also in weekly chart stock has taken a support of 89 EMA. Hence, we recommend buying this stock at current levels for a target of '1509' over the next 10-15 sessions. The stop loss should be fixed at Rs 1314.''
3. Godrej Properties
View-Bullish
''This realty counter managed to give a stupendous rally with showing its sheer outperformance as compared to its peers. Despite the recent corrective move, this stock managed to maintain its 'Higher top higher bottom structure' on a weekly chart. During few days of consolidation, the stock has taken support from the gap area of January 8, 2018. Moreover, momentum oscillator i.e. RSI has also given a bullish range breakout indicating a momentum to pick up in near term. Prices are well above 50DEMA, indicating short-term bullishness in the counter. Hence, we recommend buying this stock at current levels for a target of '872' over the next 10-15 sessions. The stop loss should be fixed at Rs 743.''
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