Buy Apollo Tyres, ABFRL and NAM India shares, suggests LKP Securities

Amid the rising trend in the Indian stock markets in the last few sessions, Rupak De, Senior Technical Analyst at LKP Securities, a domestic brokerage firm has shared three stocks- Apollo Tyres Ltd, Nippon Life India Asset Management Ltd and Aditya Birla Fashion and Retail Ltd- from a trading point of view. The analyst has suggested to long all the three counters. Here's what the analyst has to say about these counters:

Apollo Tyres | Buy | Target Price: Rs 530 | Stop Loss: Rs 484

Apollo Tyres has been finding support around the 200-day moving average (200 DMA) for several days. The price has been holding above the previous swing low. The RSI has re-entered a positive crossover. In the short term, the stock might move towards Rs 530, with support placed at Rs 484 on the lower end.

Nippon Life India Asset Management | Buy | Target Price: Rs 730 | Stop Loss: Rs 663

NAM India has formed an inside day bar on the daily chart, indicating indecisiveness. However, the stock appears to be sustaining above the previous congestion high on the daily chart. The RSI is in a bullish crossover on the lower time frame, suggesting improving price momentum. On the higher end, the stock might move towards Rs 730, with support placed at Rs 663.

Aditya Birla Fashion and Retail | Buy | Target Price: Rs 345 | Stop Loss: Rs 360

ABFRL has moved up after finding support at the falling trendline. Additionally, the stock has reclaimed the 50 EMA on the daily time frame, indicating a potential bullish trend. The RSI is in positive divergence, suggesting a positive shift in price momentum. On the higher end, the price might move towards Rs 345, with support placed at Rs 306.