Here's why Mehul Kothari recommends to buy ABB, MRPL

According to the technical analyst from Anand Rathi, ABB can advance to Rs 2,880; while MRPL can jump to Rs 57.

BUY

ABB

Buy Near: Rs 2,720

Target: Rs 2,880

Stop Loss: Rs 2,640

In the past few weeks, ABB has corrected around 20 per cent from the peak of Rs 3,300 and has entered an oversold territory. At this juncture the stock has turned back for the placement of 200-day moving average. The risk reward looks lucrative to go long.

Thus, we advise traders to buy the stock on dips near Rs 2,720 with a strict stop of Rs 2,640.

BUY

MRPL

Buy Near: Rs 53

Target: Rs 57

Stop Loss: Rs 51

In the past few sessions, MRPL has come down from Rs 63 towards Rs 52