Stock Recommendations for October 22nd-October 25th, 2019

Buy/sell stock recommendations for this week.

Oct 21, 2019 04:10 IST India Infoline News Service

 
Stock Pick Observation
Company Steel Authority of India Limited  
The stock has given a strong recovery from recent low and is on the verge of re-entering higher top higher bottom chart structure on the daily chart, indicating a positive bias according to the Dow theory. The stock has given a bullish Double bottom breakout on the daily chart, hinting a strong up-move going forward. On MACD Histogram, it has just entered into the positive territory indicating a continued upward momentum going forward.

Steel Authority of India
Recommendation
Buy or Sell Buy
Range Rs  35-35.75
Target Rs  38
Stop Loss Rs  33.5
Duration 1 week
200 D-EMA Rs  46.5
NSE Code SAIL
 
Stock Pick Observation
Company Voltas Limited  
The stock is trading in a strong higher top higher bottom chart structure, indicating a positive bias according to the Dow theory. The stock has also given a bullish Flag pattern breakdown on daily chart. Tracking the derivative data points, stock has been adding continued long positions since the start of the October series, further accentuating our positive stance.
Recommendation
Buy or Sell Buy
Range Rs  680-690
Target Rs  720
Stop Loss Rs  660
Duration 1 week
200 D-EMA Rs  606
NSE Code VOLTAS
 

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