Kolkata: Choice Equity Broking thinks the three stocks Himadri Speciality Chemical, Kajaria Ceramics, Schaeffler India could see an upside of 6% to 10%.
Accordingly, its analyst has issued Buy recommendation on Himadri Speciality Chemical, Kajaria Ceramics, and Schaeffler India based on technical indicators. The target prices for these stocks are Rs 750 for Himadri Speciality Chemical, Rs 1,210 for Kajaria Ceramics and Rs 4,400 for Schaeffler India. The analyst has also set stop losses for the investors. On the other hand, the Indian stock markets are on a recovery mode following the announcement of a peace deal between the US and Iran which is supposed to be signed on Friday. At close on Tuesday June 16, Sensex stood at 76,808.48, up 0.71% or 544.15 points while Nifty 50 ended the day at 23,989.15, up 0.57% or 135.25 points. It was the third day of rise of the market on the trot.
Himadri Speciality Chemical
According to analyst Hitesh Taylor, a buy call is recommended on Himadri Speciality Chemicals at Rs 689.20. The target for this stock is Rs 750 and the stop loss is Rs 647. On the technical charts, the stock is consistently forming a pattern of higher highs and higher lows, which is considered a strong bullish signal. Furthermore, the stock is trading above key moving averages such as the 20, 50, 100, and 200 DEMAs. This indicates that buying sentiment remains strong.
Kajaria Ceramics
The brokerage also has a buy call on Kajaria Ceramics and the price level is Rs 1139.10. The target price and strop loss levels for tis Rs 1210, and Rs 1072 respectively. According to experts, the stock recently broke out from a range-bound consolidation. This breakout was accompanied by an increase in trading volume, confirming the bullish momentum. The RSI is at 62.91, which indicates strong buying interest in the stock.
Schaeffler India
The brokerage also has a buy call on Schaeffler India. The Buy call is at Rs 4,163, while the target price is Rs 4,400 and a stop loss of Rs 3,950. On the technical chart, the stock has broken out above the Falling Resistance trendline. It has also formed a Short-Term Rounding Bottom pattern, which is considered a strong bullish signal. The stock is holding above all key DEMA levels, suggesting further strength.