Here’s why Mehul Kothari recommends buying Jubilant Foodworks, KPIT Tech
Buy Near: Rs 620
Target: Rs 660
Stop Loss: Rs 600
Recently, the stock Jubilant Foodworks confirmed a breakout above the 200-DEMA after quite some time and that indicates strength. Thereafter, the stock consolidated in a range for few trading sessions.
In yesterday’s trading session, we witnessed another range breakout with volumes. Thus, we advise traders to buy the stock near Rs 620 for a target of Rs 660 in the coming sessions.
Buy Near: Rs 590
Target: Rs 620
Stop Loss: Rs 575
KPIT Technologies has finally broken out above Rs 595 after April 2002. The price action resembles a bullish inverse head and shoulder pattern and was supported with heavy volumes which indicates accumulation.
Thus, we advise traders to buy the stock near Rs 590 for a target of Rs 620 in the coming sessions.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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