Coforge, Thyrocare Technologies, Dishman Carbogen: How to trade these 3 buzzing stocks

Indian benchmark indices continued to settle lower on Thursday on the back of weak Q2 earnings, muted economic data and constant FIIs outflows. BSE Sensex shed 110.64 or 0.14 per cent to end the session at 77,580.31. NSE's Nifty50 shed 26.35 points or 0.11 per cent, to settle at 23,532.70 for the day.

Some buzzing stocks including Dishman Carbogen Amcis Ltd, Thyrocare Technologies Ltd and Coforge Ltd are likely to remain under the spotlight of traders for the session today. Here is what Axis Securities has to say on these stocks ahead of Monday's trading session:

Thyrocare Technologies | Buy | Target Price: Rs 1,046-1,100 | Stop Loss: Rs 895

Thyrocare has decisively broken out of a 'rounded bottom' pattern at the Rs 950 level on the weekly chart in the first week of November, indicating a potential medium-term uptrend. The stock experienced a throwback to the breakout area and bounced back, confirming the continuation of the post breakout rally. The stock found support at the 38 per cent Fibonacci retracement of the rally from Rs 775 to Rs 1,004, positioned at Rs 915, confirming a short-term support base. The weekly RSI strength indicator is holding above its reference line, indicating a positive bias. The above analysis indicates an upside of Rs 1,046-1,100 levels.

Coforge | Buy | Target Price: Rs | Stop Loss: Rs 8,600-8,900

Coforge is trending in a rising channel, it recently took a support at lower band and is heading towards the upper band of the channel. It has formed a higher high and higher low pattern compared to the previous week, indicating the continuation of the uptrend. The stock is holding above its key short and medium-term daily moving averages (20, 50, 100, and 200-day), indicating a positive bias. The weekly RSI strength indicator is holding above its reference line, indicating a positive bias. The above analysis indicates an upside of Rs 8,600-8,900 levels

Dishman Carbogen Amcis | Buy | Target Price: Rs 1,046-1,100 | Stop Loss: Rs 187

Dishman Carbogen has decisively broken out of the Rs 207-160 consolidation zone on the weekly chart with a strong bullish candle, signaling the potential onset of a medium-term uptrend. Volume activity remained low during the pattern formation, but at the breakout, there was a noticeable increase in volume, indicating a surge in market participation. It also closed above the weekly upper Bollinger Band, generating a buy signal. The weekly RSI strength indicator crossed above its reference line, generating a buy signal. The above analysis indicates an upside of Rs 235-240 levels.