Here's why Mehul Kothari recommends to Buy Kothari Sugars, IEX

The technical analyst from Anand Rathi expects Kothari Sugars to rally to Rs 46.50, while Indian Energy Exchange can surge to Rs 160.

BUY

Kothari Sugars

Buy Near: Rs 43.50

Target: Rs 46.50

Stop Loss: Rs 42

During the recent trading sessions, we witnessed traction in most of the sugar stocks along with Kothari Sugars. The stock has confirmed a range breakout above Rs 43.50 mark. The price action was supported with exceptional volumes and even the momentum oscillators are positively placed.

Thus, we advise traders to buy the stock near Rs 43.50 with a strict stop of Rs 42.

BUY

Indian Energy Exchange (IEX)

Buy Near: Rs 147

Target: Rs 160

Stop Loss: Rs 140

Recently, we witnessed a fresh breakout in the stock above Rs 145 mark. Post which, the stock rallied above Rs 150 and then again we witnessed a pullback. The stock has managed to confirm a higher top and higher bottom formation on the daily scale.

Hence, we advise traders to buy the stock near Rs 147 with a strict stop of Rs 140.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).