IRFC, AB Capital, Godrej CP, Brigade: 4 stocks that analysts prefer in the short term

Domestic brokerage firms, including Prabhudas Lilladher and Axis Securities, are positive on the select stocks, namely Godrej Consumer Products Ltd, Aditya Birla Capital Ltd, Indian Railway Finance Corporation Ltd (IRFC) and Brigade Enterprises Ltd amid the rising volatility in the domestic markets. The brokerage firms believe that these stocks are headed for a strong upside in the near-term on the basis of technical parameters. Here what the analysts said about these stocks:

Indian Railway Finance Corporation I Target Price: Rs 90 | Stop Loss: Rs 64

IRFC has witnessed a decent correction recently and has taken support near 68 levels which is an important base and also the 50 EMA level lies in that zone. The stock has indicated a trend reversal from that level and has improved the bias to anticipate further upside in the coming days. The RSI also has reversed from the oversold zone and has signaled a buy. We suggest buying and accumulate the stock for an upside target of Rs 90 levels keeping the stop loss near Rs 64.

Recommended by: Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher

Brigade Enterprises | Buy | Target Price: Rs 742-760 | Stop Loss: Rs 602

Brigade exhibited a robust breakout from a 'consolidation zone' between Rs 642-550 range on the weekly chart, marked by a powerful bullish candle, signaling a positive bias. The stock is currently following a rising channel formation in the medium term, finding support at the lower band of the channel recently and rebounding, indicating a potential move towards the upper band. The stock is holding above key averages of 20, 50, 100, and 200 days Simple Moving Average (SMA), signaling a strong uptrend in the stock. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 742-760 levels

Recommended by: Axis Securities

Aditya Birla Capital | Buy | Target Price: Rs 195 | Stop Loss: Rs 165

AB Capital has given a decent correction from the peak of Rs 199 to bottom out at around Rs 166 levels, where 200 DMA lies and has been in a consolidation phase for quite some time hovering between the range of Rs 166 and Rs 174 levels. The RSI has been steadily on the rise and has maintained a positive bias and with the chart looking attractive, we recommend a buy in this stock for an upside target of Rs 195 keeping a stop loss of Rs 165.

Recommended by: Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher

Godrej Consumer Products | Buy | Target Price: Rs 1,100-1,150 | Stop Loss: Rs 950

Godrej CP breached the 'falling channel' at Rs 1,000 with a strong bullish candlestick pattern, indicating a continuation of medium-term uptrend on the weekly charts. The stock is exhibiting a pattern of higher highs and lows on the medium chart, forming an upward sloping trendline, indicating a strong uptrend. Volume activity during the pattern formation period declined, but it surged at the breakout, reaffirming the positive bias in the stock trend. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 1,100-1,150 levels.

Recommended by: Axis Securities

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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