News Real Estate

Top stock ideas from Anand Rathi: Buy Indiabulls Real Estate, RIL

[ad_1]


BUY IBREALEST | TARGET: Rs 92 | STOP LOSS: Rs 76


Since almost a month, IBREALEST has been consolidating in a range of 84 – 75. During this period, the stock found support at the placement of 200-day EMA. This support coincides with the flat line of Ichimoku on the weekly scale. The stable price action above such strong support indicates accumulation and the stock is preparing for a fresh upside. Hence, traders are advised to buy the stock near 81 with a stop loss of 76 for the upside potential target of 92 in 3-4 weeks.



BUY RELIANCE | TARGET: Rs 2,050 | STOP LOSS: Rs 1,900


Since November 2020, the stock RELIANCE has made almost three bottoms between 1,830 – 1,860 levels. This indicates multiple supports for the stock near 1,830-mark. Even in the recent corrective move, the stock made a low of 1,876 and then rallied towards 2,050 level. At this point, again, it seems that the stock is turning from those supports. Thus, traders are advised to buy the stock in the range of 1,960 – 1,950 with a stop loss of 1,900 for the upside potential target of 2,050 in 3-4 weeks.


BUY RKFORGE | TARGET: Rs 770 | STOP LOSS: Rs 570


The stock RKFORGE has been consolidating in a broad range of 610 – 490 since January 2021. The stock has recently broken out from this five-month consolidation, which indicates strength. On the larger degree scale, the breakout resembles a bullish FLAG pattern. In addition, the stock has also broken out from the Ichimoku cloud on the monthly scale. Traders are advised to buy the stock in the range of 650-630 with a stop loss of 570 for the upside potential target of 770 in 3-4 weeks.


Disclaimer: Mehul Kothari is AVP – Technical Research at 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



[ad_2]

Source link