
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: • Buy above 850 | Stop loss 825 | Target 915-940 After a phase of consolidation, the trends show the inability of the stock to move higher with prices facing headwinds again. The last Q3 numbers were not encouraging. However, after the sharp selloff in the last three days, amid the weak market sentiment, is attracting bullishness.
With a long-body candle highlighting a strong follow-through, we may see further bullishness. The average directional index (ADX) above 25 indicate the trends could continue higher. Also Read: • : Buy above 1,235 | Stop loss 1,210 | Target 1,315-1,345 Overall, the momentum remains hesitant as the trends continue to show that the pullbacks are producing a steady demand from lower levels, indicating that the bullishness in this counter is very much intact.
As the prices are now rebounding despite some pressure seen across the market, the trends could revive. Prices have managed to revive on Friday and Thursday, and the relative strength index (RSI) is reviving from a neutral zone that can help a rebound from the lower levels. Look to initiate long.
• Buy above 351 and on dips to 340 | Stop loss 335 | Target 360-370 The strong move seen in financial counters in the last few days highlights the underlying bullish momentum. With the steady bias building in the last few sessions this counter has been able to demonstrate some strong footing. Despite some selling emerging yesterday, the counter rebounded well, indicating that the trends could show some spirited rise.
The hold of important level around 335 indicates that the downward momentum has been prevented. Looking at the increased participation in the upside, one can consider going long. Also Read: Best stocks to buy today, MarketSmith India's recommendations for 2 April: 1.
: Current market price: 230.42 | Buy range: 225–231 | Profit goal: 255 | Stop loss: 220 | Timeframe: 2-3 months 2. : Current market price: 693 | Buy range: 675-695 | Profit goal: 780 | Stop Loss: 655 | Timeframe: 2-3 months Also Read:.