Seven stocks to buy and sell today — 21 January
Subscribe to enjoy similar stories. REDINGTON | Buy at: ₹222; Target: ₹236-242; stop loss: ₹214 The stock has crossed its lifetime high after a prolonged consolidation phase. Additionally, the surge in volume confirms a bullish trend in the near term.
Also read: Wipro fights its way back into the game BIOCON | Buy at: ₹401.55; target: ₹428-435; stop loss: ₹386 The chart of Biocon has been showing a strong bullish trend for a long time. Today, the stock closed at a lifetime high. Taking a long trade with a small stop-loss could be a good strategy.
Laurus Labs Ltd: Buy above ₹587, stop ₹572, target ₹620 The recent correction has found shares of Laurus Labs taking strong support at the cloud thus propelling the stock higher. With the long body candles in play the move above the recent set of resistance around ₹580 augurs well. The trends in this counter show steady buying interest highlighting possibility of continued upward traction.
The robust long body candles are clearly indicating some short covering coupled with some genuine buying. As the momentum indicator ADX/DMI is seen inching higher, we can definitely consider some buying opportunities here. Also read: Metro Brands had a decent Q3 but remains in the slow growth lane Anant Raj Ltd: Buy above ₹920, target ₹1,025, stop loss ₹880, After a sharp bout of profit booking, prices are now seen taking steady support at the TS & KS line.
The revival from these levels is indicating the resumption of the upward bias. A strong showing on Thursday highlights positive sentiment. With the bullish bias stepping up once again the RSI is seen heading higher inviting us to go long.
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