As the bulls try to fight back the bears on Dalal Street amid the heightened volatility, Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has shared three stocks- Deepak Nitrite Ltd, Indian Hotels Co Ltd and Dalmia Bharat Ltd- from a trading point of view. The analyst has suggested to 'buy' all the three counters. Here's what the analyst has to say about these counters:
Dalmia Bharat Ltd | Buy | Target Price: Rs 1,853-1,870 | Stop Loss: Rs 1,660
Dalmia Bharat's stock is currently trading near a crucial support zone around the 200-week EMA at Rs 1,723, showcasing resilience despite recent market volatility. The stock has been consolidating within a rectangular range between Rs 1,700 and Rs 1,950, suggesting accumulation at lower levels. The current price action, combined with a rising EMA, indicates the potential for a reversal towards Rs 1850-1870. A sustained move beyond Rs 1,900 could signal a breakout, paving the way for further upside towards Rs 2,000 and beyond.
Deepak Nitrite | Buy | Target Price: Rs 2,890 | Stop Loss: Rs 2,456
Deepak Nitrite has shown a strong recovery from its recent lows, reclaiming levels above the critical 200-day EMA at Rs 2,613, indicating renewed bullish momentum. The stock witnessed a sharp upward move with a 3.75 per cent gain on Tuesday, supported by healthy volumes, suggesting strong buying interest. The RSI has bounced from oversold territory, reinforcing the likelihood of a continuation of the upward trend. Prices are all set to move above Rs 2,700 that would open doors for further upside towards Rs 2,890, while the 200-day EMA serves as a robust support level, maintaining the bullish structure in the near term.
The Indian Hotels Company | Buy | Target Price: Rs 810 | Stop Loss: Rs 708
The chart for Indian Hotels Company shows a strong bullish momentum. The price has recently broken above previous highs, indicating renewed buying interest. The 21-day EMA is trending upward, reflecting a sustained uptrend. The recent candlestick pattern is supported by above-average volume, reinforcing the positive sentiment. Additionally, the RSI is at 65.75, comfortably in the bullish zone but below overbought levels, suggesting there is still room for upward movement. The consistent higher highs and higher lows further confirm a robust bullish structure, with potential for continued gains.