Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard

Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard
Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard
  • 2019-12-03 02:55:06 3 days ago
  • views: 5
  • By: business-standard.com
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Nifty closed in the negative territory for the second consecutive day, however, it managed to close above 12,000 levels, which is a positive in the short term. The momentum indicator MACD is well in the sell mode with a negative divergence which is a concern in the short term. However, since the price has not confirmed the reversal from up to down, we continue to maintain our short-term bias up for the target of 12,150 with a stop loss of 11,950.

The stock has formed a nice ascending triangular pattern which is bullish continuation pattern. The stock has earlier provided such a breakout and had went up quite well, this time it has retested the same and it has again formed the similar pattern, so we recommend buying it.

The stock seems to have completed a three wave declining structure on the daily charts and it has also provided a breakout from an inverse head and shoulders pattern, hence we recommend to buy it for the short-to-medium term.

The stock has provided a breakout from the falling channel with a breakout from the inverse head and shoulders pattern as well that has been formed on the hourly charts. Both of these patterns are absolutely positive and have provided a bullish crossover in its daily as well as hourly MACD, so we recommend buying it.

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Top stock recommendations from Anand Rathi: Buy Pidilite, ICICI Lombard