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3 stock ideas by Osho Krishan of Anand Rathi: Buy Havells, Ipca Labs
Motherson Sumi's stock has seen some buying interest in the past trading sessions and settled well above all its major moving averages on the daily time frame
The stock has provided an early sign of reversal from its ongoing downtrend near its crucial support levels. Historically, Rs 970-980 has acted as a strong demand zone for the counter. On the oscillator front, 14-period RSI has seen a positive crossover in the last trading session from the oversold region, affirming momentum in the trend reversal for the counter. Hence, accumulation could be done in the counter at current levels from a short-term perspective.
The stock is hovering just above its 200-DEMA, in a narrow range, over the past couple of trading sessions, suggesting it to be a strong support base. The stock has also seen a resurgence from the lower band of the Bollinger (20, 2) and is heading towards the mean. Meanwhile, the band size has narrowed implying an outburst in the near term. On the oscillator front, 14-period RSI has also seen some bounce from the lower zone, affirming inherent bullishness in the counter.
The stock has seen some buying interest in the past trading sessions and settled well above all its major moving averages on the daily time frame. The stock price has surpassed the mean of the Bollinger band, suggesting inherent strength in the counter. On the oscillator front, 14-period RSI has witnessed positive crossover and is aggressively heading northwards, affirming the bullish stance in the counter in near future.
======================================================================== Discalimer: Osho Krishan is senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views expressed are personal
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