Stock recommendations:
NSE Scrip – Triveni Engineering
View – Bullish
Last Close – Rs 426
Volume analysis reveals significant activity during upward movements, contrasting with lower volumes during declines, suggesting accumulation in this stock.
Furthermore, prices are comfortably above important moving averages, with any declines finding support around the 20-day EMA, highlighting a strong uptrend.
Hence, we recommend to BUY Triveni around Rs 426 – 422 | Stop loss: Rs 401 | Target: Rs 475
NSE Scrip – Dalmia Bharat
View – Bullish
Last Close – Rs 1,934
On the daily chart, prices have confirmed a breakout from a Cup and Handle pattern, supported by substantial trading volumes and bullish candlestick formations.
Moreover, prices have surpassed the key 89 EMA, which previously posed as significant resistance. Additionally, the momentum indicator RSI is comfortably trading in the positive zone, reinforcing a bullish outlook.
Hence, we recommend to BUY Dalmia Bharat around Rs 1,934 – 1,924 | Stop loss: Rs 1,848 | Target: Rs 2,078
(Rajesh Bhosale is equity technical analyst of Angel One Ltd. Views expressed are his own.)
First Published: Jul 15 2024 | 6:37 AM IST
