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Here are the top buy, sell ideas by Osho Krishan of Anand Rathi Shares
HDFC AMC's stock has seen some significant increase in trading volumes from the past few trading days indicating strong hands accumulating the stock at lower levels
ABCAPITAL has seen consolidation range breakout on the back of robust trading volumes and has entered the unfilled gap on the higher side in the daily time frame suggesting strength in the surge. Also, the stock has tested the sloping trend-line and is expected to breach the same in near future. On the indicator front, 14 period RSI has seen golden crossover affirming the strength in the breakout and bullish stance in near future.
HDFCAMC has rebounded from the 50% Fibonacci retracement of the recent swings and is currently placed above the 200 DEMA on the daily chart. The stock has seen some significant increase in trading volumes from the past few trading days indicating strong hands accumulating the stock at lower levels. Even on the oscillator front, 14 period RSI has rebounded from the oversold region suggesting strong support at the lower level and favourable risk-reward ratio.
Power stock has seen some significant accumulation in the last couple of days wherein POWERGRID has witnessed strong pullback from its 21 DEMA on the daily chart in the last trading session suggesting the potential in the counter to surge higher in near future. Eventually, the counter is in the cycle of higher highs higher lows indicating strong inherent strength in the given point in time and a better risk-reward ratio from short-term perspective.
================================= Disclaimer: Osho Krishan is senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views are personal
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