Amid the wild swings of volatility in the Indian stock markets, Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has shared three stocks- Reliance Industries Ltd (RIL), Eicher Motors Ltd and Lupin 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:
Reliance Industries | Buy | Target Price: Rs 1,350-1,380 | Stop Loss: Rs 1,160
Prices of Reliance are witnessing a strong bullish setup on the monthly chart as prices find support near the rising trendline, which has been intact for an extended period. Additionally, the stock is holding above the 50-month EMA, further affirming the strength of the support zone. This confluence of technical levels indicates robust buying interest at lower levels. With sustained trading above these levels, prices are all set for a potential uptrend continuation, targeting higher levels around 1350, 1380 in the medium to long term.
Lupin | Buy | Target Price: Rs 2,525-2,550 | Stop Loss: Rs 2,225
Share prices of Lupin are forming a flag pattern on the daily chart following the strong up move, reinforced by the 21-day EMA crossing above the 55-day EMA, signaling upward momentum. The stock is consolidating near its recent highs after a strong rally, indicating potential for further gains. RSI remains in the bullish zone above 70, reflecting strong buying interest, while the MACD shows a positive histogram, affirming the strength of the uptrend. As long as prices hold above the support area near Rs 2,225, Lupin is well-positioned to extend its upward trajectory toward Rs 2,525 and then Rs 2,550.
Eicher Motors | Buy | Target Price: Rs 5,570 | Stop Loss: Rs 4,908
Prices of Eicher Motors are witnessing a bullish setup as it retraces to the recent breakout point, offering a healthy pullback opportunity. The stock is trading comfortably above the 21-week and 55-week EMAs, underscoring the ongoing strength in the trend. The retracement toward the breakout level suggests the possibility of renewed buying interest, supported by strong technical confluences. The MACD indicator is also in a positive trajectory as the MACD line has crossed above the signal line. With the moving averages acting as dynamic support, Eicher Motors is well-positioned for a potential continuation of the uptrend.