Here’s why Anand Rathi recommends buying Rain Industries, Route Mobile
BUY RAIN | TARGET: 270 | STOP LOSS: 240
The stock has been gaining traction recently after entering the F&O basket. It found support at the 200-day moving average and recently confirmed a new breakout. The pattern looks like a bullish FLAG with a target of 290.
Traders can buy the stock alone on declines near 250 with a stop loss of 240 for an upside target of 270 in 1-2 weeks.
BUY ITINERARY | TARGET: 2100| STOP LOSS: 1800
The counter has corrected from the 2,400 peak towards the 1,700 mark over the past few months. Then, the stock found support near 200 DEMA and 200 DSMA. Now it is trading above this long-term moving average and we are seeing an inverse head and shoulders pattern on the daily chart. Traders can buy the stock on lows near 1900 with a stop loss of 1800 for an upside target of 2100 in 3-5 weeks.
_________________________________________________________________________ Disclaimer: Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal.