Buy & Sell Ideas for June 25; top stock picks by Jatin Gedia of ShareKhan

Dabur has been consolidating since the last two weeks after a sharp run up. It has now reached the 20 day moving average (590) and witnessed buying interest

Dabur

Dabur has been consolidating since the last two weeks after a sharp run up. It has now reached the 20 day moving average (Rs 590) and witnessed buying interest. It has formed a Bullish candle stick pattern on the daily charts.

The hourly momentum indicator has triggered a positive crossover which is a buy signal. Thus, there is a high probability that the stock can witness buying interest over the week. We expect the stock to target levels of Rs 628 – Rs 639. A stoploss of Rs 585 should be maintained for the long positions.

Tata Consumer

Tata Consumer has formed an Engulfing Bull Candle stick pattern on the daily charts at the 61.82 per cent fibonacci retracement level of the previous rise.

 

The daily momentum indicator has reached the equilibrium line suggesting that the fall is complete and can start a new cycle on the upside. We expect the stock to target levels of Rs 1,160 – Rs 1,178. Stoploss of Rs 1,075 should be maintained for the longs.

(Jatin Gedia is a technical research analyst at Sharekhan by BNP Paribas. Views expressed are his own.)