Here’s why Anand Rathi recommends buying Rain Industries, Route Mobile

Share


BUY RAIN | TARGET: 270 | STOP LOSS: 240

The stock gained traction recently after entering the basket of F&O. It found support at 200 day moving average and recently confirmed a fresh breakout. The pattern resembles bullish FLAG with a target of 290.




Traders can buy the stock only on dips near 250-mark with a stop loss of 240 for upside target of 270 in 1 – 2 weeks.

BUY ROUTE | TARGET: 2100| STOP LOSS: 1800

The counter corrected from the peak of 2,400 towards the 1,700 mark in the past few months. Then, the stock found support near 200 DEMA and 200 DSMA. Now, it is trading above that long term moving average and we are witnessing an inverse head and shoulder pattern on the daily chart. Traders can buy the stock on dips near 1,900 with a stop loss of 1,800 for upside target of 2,100 in 3 – 5 weeks.

_________________________________________________________________________ Disclaimer: Mehul Kothari – AVP – Technical Research, Shares & Stock Brokers. Views are personal.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *