Business Standard

Buy Cholamandalam Finance, Indigo, Omkar Speciality: Geojit BNP Paribas

Here are a few stocks for trade today from Geojit BNP Paribas Financial Services

Geojit BNP Paribas Financial Services  |  Kerala 

Image via Shutterstock
Image via Shutterstock

Here are a few stocks for trade today from Geojit BNP Paribas Financial Services

Cholamandalam Finance

Targets : Rs 954 / Rs 980

Stop-loss : Rs 921

Comment : The retracement from Rs 1047 seems to have completed and has taken support around Rs 900. The reversal from Rs 900 is expected to gain more strength. The momentum indicators too have started to reverse.


Action: BUY

Targets : Rs 1088 / Rs 1109

Stop-loss : Rs 1050

Comment : The stock has been moving within a triangle pattern for the last two months and has managed to break out of the pattern resistance of Rs 1057 yesterday. The momentum indicators are supporting further uptrend. MACD has moved above the zero and the signal line.

Omkar Chemicals:

Action : BUY on dips

Targets : Rs 166.8 / Rs 169.5

Stop-loss : Rs 160

Comment : The stock has been in a profit booking mode for over a week now and seems to have found a base around Rs 160. The momentum indicators are signaling oversold situation.

Zen Technologies

Action : BUY on dips

Targets : Rs 73 / Rs 77

Stop-loss : Rs 69.5

Comment : The stock has been moving in a narrow range for most of this month and yesterday has broken above the range resistance of Rs 70. The present up move is expected to extent further towards Rs 75-80. The momentum indicators like RSI and Stochastics are supporting further uptrend. MACD has crossed the signal line from below.

Disclaimer: This report has been prepared by Geojit BNP Paribas Financial Services Limited (GBNPP), here in after referred to as GBNPP. GBNPP, a publicly listed company, is engaged in services of retail broking, credit, portfolio management and marketing investment products including mutual funds, life and general insurance and properties. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this report (including the merits and risks involved). This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed herein is our current opinion as of the date appearing on this report only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.

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First Published: Tue, June 21 2016. 09:25 IST