Eight stocks to buy and sell today — 17 January
Subscribe to enjoy similar stories. Redington Ltd: Buy at ₹216.40; Target ₹227-232; Stop loss ₹209. The stock performed well yesterday, rallying 4.67% and successfully closing above the important ₹211 level.
The volume was strong, and the stock managed to close above the trend line. This indicates bullish momentum, and a good rally is expected in the near term. BSE Ltd: Buy at ₹5,994; Target ₹6,220-6,250; Stop loss ₹5,800.
Despite broader market weakness, the stock on BSE managed to close at a new lifetime high. This rally is expected to continue for a few more days. Traders can consider initiating a long position with a small stop loss.
Indus Towers Ltd: Buy at ₹354.60; Target ₹362-366; Stop loss ₹348. If we look at the 1-hour chart, the stock has closed above the downward channel trendline, accompanied by a spike in volume. Additionally, momentum indicators like RSI are also trending upward.
This suggests a bullish setup, and we can consider going long with a small stop loss. Minda Corp: Buy ₹591, stop ₹574 target ₹640 After consolidating for the last three months, the trends in this counter is starting to pick up. The robust long body candles that are associated gold financing stocks have been faring quite steadily.
The rise of prices of this counter has been quite steady and the recent market correction did not take much sheen from the prices. With robust momentum building up, we can look at the whole setup heading higher once again, consider going long. Ashapura Minechem: Buy above ₹475, stop ₹460 target ₹525 This counter after a sharp run witnessed some profit booking and is now taking steady support at the TS & KS line highlighting the possibility of a revival.
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