Stock recommendations for December 16th - December 20th, 2019

Buy/sell stock recommendations for this week.

Dec 15, 2019 03:12 IST India Infoline News Service

Stock Pick Observation
Company MRF  
The stock has given a strong recovery from its recent low by forming a bullish Hammer Candlestick pattern on the daily chart. The stock has also formed the same Candlestick pattern on the weekly chart and has given a falling trendline breakout. The stock futures has also added long positions with a sharp rise in open interest indicating a continued upward momentum going forward.
Recommendation
Buy or Sell Buy
Range Rs  63400-64000
Target Rs  65000
Stop Loss Rs  62990
Duration 1 week
200 D-EMA Rs 60800
NSE Code MRF
 
Stock Pick Observation
Company L&T Technologies Services Limited The stock has given a strong recovery from recent low by forming a bullish Candlestick pattern on the daily chart. Currently, the stock has has given a bullish Inverse Head & Shoulder breakout on the daily chart. On weekly MACD Histogram, it is quoting under the positive territory during the last week, indicating a positive momentum in the favour of the bulls.

Recommendation
Buy or Sell Buy
Range Rs  1500-1520
Target Rs  1600
Stop Loss Rs  1450
Duration 1 week
200 D-EMA Rs  1551
NSE Code LTTS
 

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