ICICI Lombard, Berger Paints, Godrej Consumer: How to trade these 3 buzzing stocks

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- Berger Paints India Ltd, ICICI Lombard General Insurance Company Ltd (ICICI GIC) and Godrej Consumer Products 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:

 

Godrej Consumer Products | Buy | Target Price: Rs 1,172-1,185 | Stop Loss: Rs 1,014

Godrej Consumer Products is showing signs of reversal as prices find robust support near the falling trendline on the weekly chart. The stock is trading above its 200-week EMA, indicating long-term strength. The RSI is stabilizing near the oversold zone, suggesting the possibility of upward momentum. Additionally, MACD is showing signs of convergence, hinting at waning bearish momentum. This confluence of support at the trendline and key technical indicators turning favorable highlights the potential for a recovery, with upside targets towards Rs 1,172 and Rs 1,185.

 

ICICI Lombard General Insurance Company | Buy | Target Price: Rs 1,965 | Stop Loss: Rs 1,665

Prices of ICICI Lombard have corrected more than 20 per cent from their all-time high and have approached near crucial support zone, aligning with a rising trendline and the 100-week EMA, indicating strong demand at current levels. The RSI is stabilizing near the 40 mark, suggesting the stock is holding strength despite recent corrections. Additionally, MACD remains in positive territory, pointing to potential recovery momentum. Market participation has been very low on this correctional fall, hinting that investors are waiting for good levels to build fresh long positions.

 

Berger Paints | Buy | Target Price: Rs 484 | Stop Loss: Rs 430

Berger Paints has been in a prolonged downtrend, however, technical indicators suggest a potential reversal is underway. A notable triple-bottom pattern has formed on the weekly chart, signaling a possible shift in trend near the current levels. Supporting this bullish outlook, the weekly RSI has reversed from the critical 25-mark without entering the oversold zone, forming a double-bottom structure that reinforces the likelihood of a rebound. Additionally, the MACD histogram shows signs of bullish divergence, further validating the potential for upward momentum. Most importantly, there has been a visible increase in volume, indicating growing buying interest.