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.  |
| 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 | |
