BUY
Ashok Leyland
Buy Above: Rs 154
Target: Rs 166
Stop Loss: Rs 148
The stock Ashok Leyland is on the verge of a breakout which will get confirmed above Rs 154. The daily RSI-14 has already crossed 50 mark and indicates strength. After the confirmation of breakout, the stock has potential to break its life time high of Rs 169.45 in the coming weeks.
Thus, we advise traders to buy the stock above Rs 154 with a strict stop of Rs 148.
BUY
Lupin
Buy Near: Rs 755
Target: Rs 810
Stop Loss: Rs 725
On the daily chart of Lupin we are witnessing a range breakout above Rs 750 mark after a consolidation of few months. During the process, the stock has managed to sustain above its 200-day SMA and EMA for considerable sessions and that too after April 2021. This indicates that the stock is about to change its trend.
Thus, we advise traders to buy the stock near Rs 755 mark with a strict stop of Rs 725.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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