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BUY TATA POWER | TARGET: Rs 116 | STOP LOSS: Rs 102 TATAPOWER has been one of the consistent performers in the power sector for the past couple of months and has been trending throughout in the cycle of higher highs, higher lows. Also, the stock is placed well above all the major moving averages suggesting an inherent strength. In the recent past, the oscillator, 14 period RSI has seen some significant bounce and has breached its previous swing highs indicating bullishness in the counter in the coming future. BUY GUJGAS LTD | TARGET: Rs 560 | STOP LOSS: Rs 496 GUJGASLTD has been consolidating for quite some time wherein the range is getting narrower as 21 DEMA and 50 DEMA are about to converge. The stock price is well placed at the lower band of the Bollinger band (20, 2) suggesting some nearby rebound in the counter. Also, this set-up could be treated as an early bullish set-up from a short to medium-term investment perspective with the risk-reward being on the lucr ....
BUY GRASIM | CMP: Rs 1,401 | Target: Rs 1,600-1660 | Stop Loss: Rs 1,220 The stock, after the recent correction, has bottomed out near 1260 levels and has currently picked up momentum to move past the significant 50-EMA level of 1315 to improve the bias. The chart looks attractive and, with the RSI also improving with a trend reversal, the indicators suggest strength to signal a buy. We advise to buy and accumulate this stock for an upside target of 1600-1660 keeping the stop loss of 1220. BUY BHARAT FORGE | CMP: Rs 610 | Target: Rs 700-720 | Stop Loss: Rs 560 The stock has bottomed out near 560 levels after forming a double bottom pattern in the daily chart and has currently picked up momentum to move past the significant 50EMA level of 596 to improve the bias. The stock has potential to rise further till 660 levels and, with the RSI also improving the bias and indicating strength, and we anticipate a decent upmove from hereon. We suggest to buy and accumulate thi ....