As Indian stock markets witness wild swings of volatility in the last few sessions, Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services, a domestic brokerage firm has shared three stocks- Ipca Laboratories Ltd, Kotak Mahindra Bank Ltd and Colgate Palmolive 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:
Kotak Mahindra Bank | Buy | Target Price: Rs 1,912 | Stop Loss: Rs 1,728 |
Kotak Mahindra Bank has witnessed a sharp rebound from the lower boundary of its bullish trendline, with prices holding above the critical moving averages of 21-week and 55-week EMAs, indicating the potential for a reversal toward the recent swing high of Rs 1,942. The decline in trading volumes on recent correctional falls indicates that investors are less convinced to offload their portfolio. Additionally, RSI has taken a sharp U-turn from crucial horizontal support which further underscores strengthening bullish momentum, suggesting upward movement in the sessions ahead.
Colgate Palmolive | Buy | Target Price: Rs 4,040 | Stop Loss: Rs 3,570
Colgate's price action remains within a well-established bullish channel, currently positioned near the lower boundary. This positioning indicates a potential recovery toward the upper range of Rs 3,850–3,870. The broader trend continues to be bullish, characterised by the consistent formation of higher highs and higher lows. Recently, the price found support near the 21-day EMA, a level that has historically acted as a key support zone. Following this support, a sharp rebound occurred, suggesting a similar upward movement could take place in the current scenario. On the downside, the 3840-3850 zone is expected to provide immediate support.
Ipca Laboratories | Buy | Target Price: Rs 1,650-1,680 | Stop Loss: Rs 1,450
Ipca Labs has been in a sustained uptrend, as evidenced by the formation of higher highs and higher lows on the daily chart. In recent sessions, the stock had been consolidating within a horizontal range, but today's breakout on the upside, supported by a notable increase in trading volumes, signals the continuation of the prevailing bullish trend. Currently, prices are trading above key short-term moving averages, specifically the 21-day and 55-day EMAs. Each dip toward the 21-day EMA has been met with renewed buying interest, further supporting the stock’s upward momentum. Both the MACD and RSI, two key momentum indicators, are trading in positive territory, reinforcing the bullish outlook.