Asian Paints, Escorts Kubota, TVS Motor, Stride Pharma: Brokerages see a strong upside in these stocks

Domestic brokerage firms including Ashika Stock Broking and SMC Global are positive on the select stocks, namely- Asian Paints, Escorts Kubota, TVS Motor Company and Stride Pharma Science amid the busy result season, The brokerage firms believe that these stocks are headed for a strong upside in the near-term on the basis of their sound technical setup. Here what the brokerage firms has to say:

Escorts Kubota | Buy | Target Price: Rs 2,280-2,300 | Stop Loss: Rs 1,900
Escorts Kubota witnessed a correction phase, over the months, and was seen sliding back towards Rs 1,800 levels. The correction in prices was observed with formation of lower top patterns on daily charts. However, the stock managed to take support around Rs 1,800-levels and once again caught a momentum above its 200 days exponential moving average on daily charts with the formation of a rounding bottom pattern. On short term charts prices can be seen recovering with formation of higher bottom formation, while a fresh breakout has been observed above the 'Cup & Handle' pattern visible on daily intervals. Therefore, one can buy the stock in the range of 2050-2065 levels for the upside target of Rs 2,280-2,300 levels with stop loss below Rs 1,900 levels.
Recommended By: SMC Global

Asian Paints | Buy | Target Price: Rs 3,275 | Upside: 9%
Asian Paints has formed an elevated base around Rs 2,700 and after consolidating for a prolonged 3-month period has marched forward to break past the consolidation zone. However immediate resistance is seen from the 200 DMA at Rs 3,070, decisive close above it could increase the momentum further and higher target of Rs 3,575 can be seen in weeks’ time. Positive outlook is well supported by buy crossover in 14-period RSI with increased volume build-up. The stock is also trading comfortably above the 61.8 per cent retracement of the previous swing that is from June 2022-September 2022 which reinstates the bullish outlook.
Recommended By: Ashika Stock Broking

TVS Motors Company | Buy | Target Price: Rs 1,400-1,410 | Stop Loss: Rs 1,075
TVS Motor has been consolidating in a broader range of Rs 970-1170 since last seven months as prices can be seen maintaining well above its 200-days exponential moving average on daily interval. At the current juncture, a fresh breakout has been observed after a prolonged consolidation phase with rise in average volumes. Alongside, positive divergences on secondary oscillators suggest the next upswing into prices as bullish momentum is expected to carry in upcoming sessions as well. Therefore, one can buy the stock in the range of Rs 1,200-1,215 levels for the upside target of Rs 1,400-1,410 levels with stop loss below Rs 1,075 levels.
Recommended By: SMC Global

Strides Pharma Science | Buy | Target Price: Rs 415 | Upside: 15%
Since 2021, Strides Pharma has been on a sequential downtrend with lower low formation however in recent periods the stock seems to have taken a defensive step from its historical support level of Rs 270-275. The stock has its unique characteristic of illustrating meaningful pullback at the said support point and in this process a classical Triple Bottom formation might be in place which processes that the stock is on the path to scale higher levels of Rs 415 in near term. The bullish outlook is further validated by buy crossover in 14-period weekly RSI.
Recommended By: Ashika Stock Broking


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