L&T Finance, Godrej CP, Arvind Fashions: Trading strategies for these buzzing stocks

Domestic equity indices extended recent gains on Friday. A buying in Asian markets and a fall in US treasury yields supported the sentiment. The BSE Sensex jumped 282.88 points, or 0.44 per cent, to end at 64,363.78. NSE's Nifty gained 97.35 points, or 0.51 per cent to end the session at 19,230.60.

A few stocks namely Arvind Fashions Ltd, L&T Finance Holdings Ltd and Godrej Consumer Products Ltd are likely to be in focus today. Here is what Kunal Shah, Senior Technical & Derivative analyst at LKP Securities has to say on these stocks ahead of Monday's trading session:

L&T Finance Holdings | Buy | Target Price: Rs 150-152 | Stop Loss: Rs 130
L&T Finance Holdings showed promising signs. It has recently closed near a strong resistance level, signalling a potential breakout. Additionally, it's trading above its 20-day moving average, confirming short-term bullish sentiment. Growing trading volume suggests increasing market interest. With an RSI at 61, indicating momentum strength, the stock appears well-positioned. Consider initiating a long position in the range of Rs 136-140, setting a stop-loss at Rs 130 for downside protection, and aiming for a target of Rs 152.

Godrej Consumer Products | Buy | Target Price: Rs 1,100-1,170 | Stop Loss: Rs 960
Godrej Consumer Products has shown a breakout from a falling trendline on the charts, supported by a sharp surge in trading volumes. The RSI momentum indicator has rebounded strongly from oversold territory, indicating renewed strength. Additionally, the stock has broken above its 200-day moving average (200DMA) positioned at 988, confirming a change in trend. With the support visible at Rs 960, acting as a cushion for the bulls, the stock presents potential upside targets in the range of Rs 1,100 to Rs 1,170.

Arvind Fashions | Buy | Target Price: Rs 450-600 | Stop Loss: Rs 300
Arvind Fashion stock has established a robust base formation at lower levels. It has been consolidating within a broad range between Rs 265 and Rs 380 and is currently displaying indications of an impending significant move in the near term. The stock continues to be in a 'buy on dip' mode, with support at 300, and holds the potential for upside targets of Rs 450 and Rs 600.

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