Stocks to buy: Osho Krishan of Angel One recommends buying these 2 stocks

NSE Scrip – CASTROLIND

View -   Bullish

Last Close – Rs 222.37

 

CASTROLIND has seen a decent correction from its peak of Rs 284 towards the 200 DSMA on the daily charts. However, in the last couple of trading weeks, the counter has started gaining traction and has gradually emerged above its significant EMAs. Additionally, the counter has surpassed its recent swing high, coinciding with earlier breakout zones, backed by rising volumes. On the technical parameters, the MACD indicator showcases a reversal from the lower zone, adding to the bullish quotient.

 

Hence, we recommend to 'Buy' CASTROLIND around Rs 220- Rs 215 | Stop loss: Rs 200 | Target: Rs 248- Rs 250

 

 

NSE Scrip – JSL

View -   Bullish

Last Close – Rs 741.60

 

JSL has witnessed a strong trading week, wherein it surged over 8 per cent to elope above the 50 per cent Fibonacci retracement of the recent decline. The recent move was backed by a notable increase in volumes. Additionally, the counter comfortably sustained above the cluster of its significant EMAs on the daily charts, adding to a bullish outlook. The technical structure resembles a ‘Double Bottom’ formation, backed by favorable technical parameters, suggesting a continuation of the bullish trend in the comparable period.

 

Hence, we recommend to 'Buy' JSL around Rs 740- Rs 735| Stop loss: Rs 710 | Target: Rs 790  (This article is by Osho Krishan, senior analyst-technical & derivatives, Angel One Ltd. Views expressed are his own.)