Stock Recommendations for September 9th-September 13th, 2019

Buy/sell stock recommendations for this week.

Sep 08, 2019 04:09 IST India Infoline News Service

Stock Pick Observation
Company REC Limited  
The stock has re-entered its bullish higher top higher bottom chart structure by giving a strong recovery from its 200day EMA support zone of ~140 level. Tracking the shorter time frame, on the daily chart the stock has given a bullish Inverse Head & Shoulder breakout along with an uptick in the volume. On MACD Histogram, it is showing positive momentum, hinting a continued upward momentum going forward.

Recommendation
Buy or Sell Buy (Cash)
Range Rs  148-150
Target Rs  156
Stop Loss Rs  144
Duration 1 week
200 D-EMA Rs  139
NSE Code RECLTD
 
Stock Pick Observation
Company Tata Steel Limited  
The stock has given a strong recovery from recent low by forming a bullish Doji Star candlestick pattern on the weekly chart. Tracking the shorter time frame, on the daily chart the stock has given a falling trendline breakout and is trading above its 10day EMA level for the first time since July 03, 2019. On the derivative front, its future contract has added long positions.

Recommendation
Buy or Sell Buy (Cash)
Range Rs  351-355
Target Rs  370
Stop Loss Rs  339
Duration 1 week
200 D-EMA Rs  477
NSE Code TATASTEEL
 

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