1. Chambal Fertilizers & Chemicals Ltd: At a target price of ₹360, purchase Chambal Fertilizers & Chemicals Ltd at ₹344, with a stop loss of ₹335.
The stock has a bullish reversal pattern in the short term trend; technically, a retrenchment might occur up to 360. Therefore, if the trader holds the support level of 335, the stock may short-term rebound toward 360. The trader can go long with a stop loss of 335 for the target price of 360.
2. State Bank of India (SBI): At a target price of ₹760, buy SBI at ₹735 with a ₹720 stop loss.
The stock has a bullish reversal pattern in the short term trend; technically, a retrenchment might occur up to 760. Therefore, if the trader holds the support level of 720, the stock may short-term rebound toward 760. The trader can then go long with a stop loss of 720 and target price of 760.
3. Parag Milk Food Ltd: Purchase the company at ₹210.95, setting a ₹202 stop loss and aiming for a ₹230 target price.
After a fair correction, the stock has found support around the 188 zone and has progressively moved past the significant 200 period MA of 198 levels to strengthen the bias. With significant upside potential evident, more rise is expected, and the chart is looking attractive as the RSI flattened out after the slide, hovering around the oversold zone and indicating a trend reversal to signal a buy. We recommend buying the stock for an initial target of 230 while maintaining the strict stop loss of 202.
4. Clean Science & Technology Ltd.: Purchase the company at ₹1,348 with a ₹1,310 stop loss and a ₹1,470 target price.
The RSI has gained strength from the oversold zone and is on the rise, signaling a buy; we recommend buying the stock for an initial target of 1,470 keeping the stop loss at the 1,310 level. The stock has taken support near the 1,280 zone, witnessing a triple bottom formation pattern on the daily chart, and with a decent pullback visible has improved the bias with much scope for further upward movement possible.
5. NHPC: Purchase NHPC at ₹88.85, with a ₹86 stop loss and a ₹97 target price.
We recommend buying the stock for an initial target of 97 keeping the stop loss of 86 level. The stock has shown a positive candle formation on the daily chart, maintaining above the significant 50EMA level of 84 to trigger for an upside move in the coming days with bias improved and the RSI also indicating a trend reversal has signaled a buy.
6. Reliance Industries: Purchase RIL with a stop loss of ₹2,940 and a target price of ₹3,075 in the range of ₹2,983-2,987.
The price is trading above the short term EMA (20), indicating an uptrend in the security. The RSI is now trading in the northern direction supporting the price action. Reliance Industries is seen to be breaking out of a rising channel pattern on the daily time frame and making a strong bullish candlestick, which is why a buy recommendation is initiated for targets up to ₹3,075 One can initiate buy on dip in the range of 2,983-2,987 with stop loss below 2,940 on daily closing basis.