Anand Rathi says 'buy' Avenue Supermarts, Eicher Motors: Here's why

According to Mehul Kothari of Anand Rathi, traders can buy Avenue Supermarts near the 4,150-mark with a stop loss of 3,950 for upside target of 4,550 in 3-5 weeks.

BUY DMART | TARGET: Rs 4,550 | STOP LOSS: Rs 3,950

Since a last couple of months, Avenue Supermarts (DMART) corrected by almost 20 per cent from the top and is now hovering near the 4,000 mark. The fall got arrested exactly at the placement of its 200 day moving average. Here, we are witnessing a bullish engulfing candle, which indicates a bullish reversal in the stock. Thus, traders can buy the stock near the 4,150-mark with a stop loss of 3,950 for upside target of 4,550 in 3 – 5 weeks.

BUY EICHER | TARGET: Rs 2,800 | STOP