 "Rajesh Bhosale of Angel One recommends buying these 2 stocks on Nov 25")
NSE Scrip – ASHOKLEY
View - Bullish
Last Close – 223.96
Ashok Leyland has seen a decent correction from its peak of 262 towards the 200 DSMA on the daily charts. Though in the last couple of trading weeks, the counter has started gaining traction from its long-term moving average and has gradually emerged above 20 DEMA.
Additionally, the counter is on the verge of an ‘Inverted H&S’ pattern breakout on the daily time frame, suggesting a bullish outlook.
On the technical parameters, the MACD indicator showcases a reversal from the lower zone, adding to the bullish quotient.
Hence, we recommend to 'Buy' Ashok Leyland around Rs 220 | Stop Loss: Rs 208 | Target: Rs 240
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NSE Scrip – COROMANDEL
View - Bullish
Last Close – 1806.45
Coromandel International has witnessed a fresh breakout on all time frame charts on the back of notable trading volumes. The stock has witnessed a rounding formation, taking support from its 100 DEMA
before entering uncharted territory, showcasing a time-wise correction, and aligning technical parameters to favorable conditions.
The technical structure seems poised to continue a bullish trend
and is highly likely to extend its rally into uncharted territory in the near future.
Hence, we recommend to 'Buy' Coromandel International around Rs 1,800-Rs 1,790 | Stop loss: Rs 1,725 | Target: Rs 1,930 (This article is by Rajesh Bhosale, equity technical analyst at Angel One Ltd. Views expressed are his own.)