Mehul Kothari is bullish on Linde India, Saregama; check why
Buy Above: Rs 3,575
Target: Rs 3,875
Stop Loss: Rs 3,430
Recently the stock Linde India managed to reclaim its 200 DEMA and has been consolidating. This price action indicates change of trend. The stock is on the verge of a range breakout which might get confirmed above Rs 3,575. A move above Rs 3,575 might result in a strong upside momentum.
Hence, we advise traders to buy the stock above Rs 3,575 with a strict stop of Rs 3,430.
Buy Above: Rs 396
Target: Rs 425
Stop Loss: Rs 380
With regards to Saregama; the stock has a triple bottom formation at Rs 350 mark on the medium term scale. At this juncture; the stock in on the verge of a breakout from falling trend line and that might get confirmed above Rs 396 mark.
Hence, we advise traders to buy the stock above Rs 396 with a strict stop of Rs 380.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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