Stock recommendations for January 20-24, 2020

Buy/sell stock recommendations for this week.

Jan 19, 2020 04:01 IST India Infoline News Service

Stock Pick Observation
Company IndiaMart Intermesh Ltd  
The stock has given a strong recovery from its recent low by forming a bullish engulfing candlestick pattern on the daily chart. The stock has restarted trading in a strong higher top higher bottom chart pattern and has given a consolidation breakout of the daily chart.

Recommendation
Buy or Sell Buy
Range Rs  2120-2140
Target Rs  2250
Stop Loss Rs  2060
Duration 1 week
200 D-EMA Rs 1680
NSE Code Indiamart
 
Stock Pick Observation
Company Motherson Sumi Limited The stock has added heavy short positions since the start of the January series as the open positions have soared higher along with a sharp fall in the underlying price. Currently, the stock has also given a double top breakdown on the daily chart and is showing negative momentum on the MACD Histogram.

Recommendation
Buy or Sell Sell (Fut)
Range Rs  140-143
Target Rs  136
Stop Loss Rs  145
Duration 1 week
200 D-EMA Rs  131
NSE Code Mothersumi
 

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