 "Stocks to Buy: CEAT, Star Health are top picks of Vinay Rajani of HDFC Sec")
Nifty rose for the fourteenth consecutive session on Sept 03. At close, Nifty was up 1.15 points at 25279.9. Nifty formed a small negative candle with small lower shadow on Sept 03. Nifty once again remained in a narrow 86- point range through the day. Nifty could face resistance in the 25360-25400 band while 25130 could offer support in the near term.
Buy CEAT Ltd(2847): | Target Rs. 3193 | Stop-loss Rs 2575
Stock is on the verge of breaking out from inverted head and shoulder pattern on the daily chart. Price rise was accompanied by healthy volumes. Stock is trading above all important moving averages, indicating bullish trend on all time frames.
Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts
Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts
Buy Star Health and Allied Insurance(637.90): | Target Rs. 732 | Stop-loss Rs 587
Stock has broken out from multi week consolidation pattern on the weekly charts. Price rise was accompanied by healthy volumes. Stock is trading above all important moving averages, indicating bullish trend on all time frames.
Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts.
(Vinay Rajani, CMT, is a senior technical & derivative analyst at HDFC Securities. Views expressed are his own)
Indicators and oscillators have turned bullish on daily and weekly chart. Stock price has started forming higher tops and higher bottoms on the daily charts.
(Vinay Rajani, CMT, is a senior technical & derivative analyst at HDFC Securities. Views expressed are his own)