Stock picks by Osho Krishan of Anand Rathi: Buy Lupin, Gujarat Gas

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LUPIN has corrected over 25 per cent from its 52 weeks high and is currently placed near its historical demand zone of 900 odd levels

Stock calls | Markets | Market technicals

Osho Krishan  |  Mumbai 

Last Updated at October 1, 2021 08:18 IST

BUY LTD | TARGET: Rs 675 | STOP LOSS: Rs 606

GUJGASLTD has retraced nearly 61.80 per cent from its lifetime high zone and has seen firm consolidation near the same from the past couple of trading sessions, suggesting the formation of a strong base. On the daily timeframe, the stock is hovering near to its 100 DEMA that historically has proved to provide strong support to the counter. On technical parameters, 14 period RSI has witnessed a positive crossover near the oversold region indicating a strong reversal signal in the counter. From risk-reward perspective, the stock looks lucrative from short to medium-term period.

BUY LTD | TARGET: Rs 1,020 | STOP LOSS: Rs 900

has corrected over 25 per cent from its 52 weeks high and is currently placed near its historical demand zone of 900 odd levels. In recent times, the stock has seen some resurgence from the same levels but lost its momentum in between. However, this could be seen as an early sign of reversal in the counter, and even from the risk-reward perspective, the stock is placed at a lucrative zone. Also the 14 period RSI has seen the reversal from the oversold region affirming the bullish stance in the counter.

Disclaimer: Osho Krishan is senior manager – Equity Research at Shares & Stock Brokers. Views are personal.

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First Published: Fri, October 01 2021. 08:18 IST