We can see a big momentum in following stocks:
Target: Rs 428
The stock is forming a bullish flag pattern on daily charts. Further buying momentum would be witnessed only if the stock moves above 400. Breakout from the level of 400, which is the immediate resistance, might lead it higher. It might also bounce from important average. Considering the technical evidence discussed above, we recommend buying the stock above 400 for the target of Rs 428, keeping a stop loss at Rs 381 on closing basis.
Target: Rs 565
Stop loss: Rs 524
The stock is forming a reversal pattern on daily charts. Breakout from the level of 540 would lead the stock towards more upward trajectory. It might outperform its peers as risk to reward is favorable at this juncture of time. We recommend buying the stock above 540 for the target of Rs 565, keeping a stop loss at Rs524 on closing basis.
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