Eight stock picks for 24 February—two steel giants among stocks recommended by market experts on Monday
Subscribe to enjoy similar stories. • PGEL: Buy above: ₹830 | Stop: ₹855 | Target: ₹890-910 This counter from the electronics industry has been making a base around the MA Bands, indicating the possibility of a revival after a while. Last week’s action highlights that the rise in prices supported by volume could now result in some revival.
The RSI shows some positive divergence, again indicating that the trends are on a revival mode and could set some pace to the upside. Buy. • GABRIEL: Buy above: ₹480 | Stop: ₹468 | Target: ₹515-530 The prices dipped into the Moving Average Bands and are seen showing some bullish signatures.
The momentum readings are also showing a revival from neutral zones, which could help the prices rise quickly. As trends are looking promising with the formation of a long body candle, one can look to go long for the next few days. Buy.
• J&K BANK: Buy at: ₹101.50 | Stop: ₹99.50 | Target: ₹107-110 This banking counter managed to stay afloat during the recent capitulation, indicating some steady buying interest developing at lower levels as the supports offered by the neutral zone of RSI clearly spell out that the trends are showing some revival again. With the possibility of some upward bounce emerging, one can consider going long as there is room to the upside. Manorama Industries Ltd: Current market price: ₹1,065 | Buy range: ₹1,045-1,070 | Profit goal: ₹1,230 | Stop loss: ₹990 | Timeframe: 2-3 months Affle (India): Current market price: ₹1,549 | Buy range: ₹1,520-1,560 | Profit goal: ₹1,850 | Stop loss: ₹1,430 | Timeframe: 2-3 months TATA STEEL: Buy at: ₹140.75 | Target: ₹150-155 | Stop loss: ₹134 The stock has broken out of a rectangle pattern on the hourly chart, confirmed by strong volume
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