Stock Picks by Anand Rathi’s Osho Krishna: Buy Lupine, Gujarat
Buy Gujarat Gas Limited | Target: Rs 675 | Stop Loss: Rs 606
GUJGASLTD has retraced around 61.80 percent from its Lifetime High Zone and has seen strength close to it over the past few trading sessions, which suggests the formation of a strong base. On the daily time frame, the stock is hovering near its 100 DEMA which has historically proven to provide strong support to the counter. On technical parameters, the 14 period RSI has seen a positive crossover near the oversold area indicating a strong reversal signal in the counter. From a risk-reward perspective, the stock looks attractive in the short to medium term.
Buy Lupine Ltd. | Target: Rs 1,020 | Stop Loss: Rs 900
Lupine has corrected over 25 percent from its 52-week high and is currently placed near the historical demand zone of the 900 odd levels. In recent days, the stock has seen some resurgence from similar levels, but has lost momentum in the middle. However, this could be seen as an early sign of a reversal in the counter, and even from a risk-reward perspective, the stock is placed in an attractive zone. Besides, the 14th period RSI has seen a reversal from the oversold area which confirms the bullish trend over the counter.
Disclaimer: Osho Krishna is Senior Manager – Equity Research at Anand Rathi Shares & Stock Brokers. Thoughts are personal.
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