The analyst sees 20–30% upside in the next two months in these three stocks.
L&T Finance, AB Capital and Agarwal Toughened Glass are ranking high on the analysts radar this week, driven by strong technical charts.
SEBI-registered analyst Aditya Thukral has identified these three stocks with an upside potential of 20% to 30% in the next two months.
L&T Finance
L&T Finance stock has seen a breakout from a cup and handle pattern along with a rise in volumes. The stock has been consistently trading above all the major exponential moving averages (50-day, 100-day and 200-day EMA).
Previous resistances have continued to provide support to prices, following the principle of polarity. A 14-period Relative Strength Inde (RSI) is also below the overbought zone and provides room for immediate upside in the stock prices.
He sees further upside in the stock. Traders can look to enter at ₹216 with the stop losses of higher low of ₹194. Targets are set at ₹258 to be achieved in the next two months.
AB Capital
A fresh all-time high breakout where AB Capital stock has been resisting from the past one and a half month was witnessed in the stock with the rise in volumes. The stock has been consistently trading above all its major exponential moving averages (50-day, 100-day and 200-day EMA).
Thukral noted that previous resistances have continued to provide support to prices, following the principle of polarity. A 14-period Relative Strength Index (RSI) is also below the overbought zone and provides room for immediate upside in the stock prices.
He expects an uptrend continuation. Traders can enter at ₹287 with the stop losses of higher low of ₹243, with targets of ₹346 likely in the next 2 months.
Agarwal Toughened Glass India
Agarwal Glass has been forming a rounded bottom-type structure since its listing on the SME exchange. An all-time high and a cup pattern breakout were witnessed on Monday with a rise in volumes. Along this rally, the stock has formed a higher high and higher low structure, confirming an uptrend. The stock is continuously trading above all its major exponential moving averages (20-day, 50-day and 100-day EMA).
Thukral believes that a continued uptrend is likely, where buyers can enter near breakout levels of ₹148-₹153. A stop loss of ₹134 can be maintained in buying as ₹134 is the higher low of the current rally. He expects the stock to test the ₹200 levels in the next 2 months.
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