For a better experience please change your browser to CHROME, FIREFOX, OPERA or Internet Explorer.

Osho recommends Escorts, Godrej Properties. Time to purchase and maintain

BUY ESCORTS LTD | GOAL: Rs 1,300 | STOP LOSS: Rs 1,160

ESCORTS exited the consolidation phase in the last trading session, aided by an increase in average trading volume, and managed to level off above its 200-DEMA in the daily timeframe. At the same time, it has pulled back over 50 percent from the recent decline on the Fibonacci retracement, and even on the Bollinger Band (20, 2) it has broken the upper band significantly, indicating an early sign of the band’s expansion.

BUY GODREJ PROPERTIES LTD | GOAL: 1,500 rupees | STOP LOSS: Rs 1,330

GODREJPROP has seen the inverted head and shoulders break out on the daily chart post, reaching support near its long-term exponential moving average, indicating a bullish sentiment on the counter. Plus, the stock is placed well above all of its major moving averages on the daily time frame and even on the oscillator front.

BUY COROMANDEL INT. LTD | GOAL: Rs 862 | STOP LOSS: Rs 776

COROMANDEL has experienced a revival of its 21-DEMA, which even coincides with the unfilled gap below. The stock has corrected from the Bollinger’s upper band (20, 2) to the mean, from where it has rallied, suggesting that it is a strong demand zone for the meter. Hence, the various oscillators could be considered to have a strong support zone, making it attractive from a risk and reward perspective.

Disclaimer: Osho Krishan is Senior Manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal

Dear Reader,

Business Standard has always endeavored to provide updated information and commentary on developments that are of interest to you and have far-reaching political and economic implications for the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our determination and commitment to these ideals. Even in these troubled times resulting from Covid-19, we continue to strive to keep you updated with credible news, authoritative views, and concise comments on current affairs.
However, we have a request.

In the fight against the economic effects of the pandemic, we need your support even more so that we can continue to offer you high-quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our 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 practice the journalism to which we are dedicated.

Support quality journalism and Subscribe to Business Standard.

Digital editor

Top