Breaking News

DCM Shriram, Jindal Steel: Mehul Kothari’s stock picks in this volatile mkt

[ad_1]



BUY DCM SHRIRAM IND | TARGET: Rs 118 | STOP LOSS: Rs 88


The technical price structure of majority of the sugar stocks indicates positive price movement in the coming week. The stock of DCM Shriram, too, has confirmed a breakout from the range of 88 – 98 on the daily scale. The breakout was accompanied with rise in volumes which indicates accumulation. Thus, we advise traders to buy the stock in the range of Rs 101 – 97 with a stop loss of Rs 88 on closing basis for the upside potential target of Rs 118 in coming 1 – 2 months.





BUY JINDAL STEEL | TARGET: Rs 510 | STOP LOSS: Rs 430


Despite the market volatility, JINDALSTEL has been doing really well recently. The stock has confirmed a fresh breakout from its previous swing high of 462 with a decisive close. We are also witnessing a breakout in daily RSI above 60 mark. Thus, traders are advised to buy the stock in the range of Rs 468 – 458 with a stop loss of Rs 430 on closing basis for the upside potential target of Rs 510 in coming 1 – 2 months.

======================================================

Disclaimer: Mehul Kothari is AVP – Technical Research at Anand Rathi Shares & Stock Brokers. He may or may not hold any position is the above mentioned stocks. Views are personal.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



[ad_2]

Source link