3M India
BUY
Closer to: Rs 21,800
Target: Rs 24,250
Stop Loss: Rs 20,500
The stock has confirmed an inverse head and shoulder breakout above Rs 21,800 level and looks strong with a time frame of 2 – 3 weeks.
The theoretical target for the pattern comes around Rs 26,000. Thus, we advise traders to go long in 3M India near Rs 21,800 with a stop loss of Rs 20,500 for an upside target of Rs 24,250.
India Cements
BUY
Closer to: Rs 155
Target: Rs 170
Stop Loss: Rs 145
Due to oversold conditions, we witnessed some short unwinding in India Cements during the recent trading sessions.
On the weekly chart, we are observing a bullish hammer formation. There is some decent built up at 160 strike Call option and once the stock starts trading above Rs 160 we can expect short covering.
There is a possibility of pullback rally in the stock in the coming few trading sessions.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
