AJANTA PHARMA, INDIGO and VOLTAS Stock Recommendation by CapitalAim
Indian markets remained weak last week with stock specific action. While the Indian currency faced pressure, stock specific action was witnessed.
Stock recommendations by Mr. Romesh Tiwari, Head of Research, CapitalAim...
INDIGO: BUY| Above: Rs 1720| Target: Rs 1780| Stop loss: Rs 1660|
INDIGO is in a bullish trend since 21-OCT-2018 in the daily chart and now it has near the major resistance of 1695 same chart. 20-day and 50-day moving average has shown upward bullish momentum, MACD showing buy signal on the daily chart. Also, the RSI showing buy signal on the same chart which is now placed at 66.10 levels.
AJANTA PHARMA: BUY| Above: Rs 1030| Target: Rs 1150| Stop loss: Rs 940|
AJANTA sustained above the 20-day moving average and it is now on a recovery mode since 02-Aug-2019 and also consolidating above the resistance of 980 levels on the daily chart. Now the Bollinger Band has shown an uptrend on the daily chart and the RSI looking strong at the same chart which is now placed at 65.65 levels.
VOLTAS: BUY| Above: Rs 645 | Target: Rs 685 | Stop loss: Rs 607|
VOLTAS is in a sideways trend since 02-MAY-2018 and range between 495-635 on the daily chart and consolidating above the support of 20-day moving average on the same chart. Now, it has sustained above the 50-day moving average on the daily chart and tested above the resistance around 628 levels. MACD on the daily chart showing buy signal and the RSI looking strong at the same chart which is now placed at 63.20 levels.