DMart, HUL: Top picks by Osho Krishan of Angel One for July 22 | News on Markets
Stock Recommendations:
NSE Scrip – DMart
View – Bullish
Last Close – 5010.70
DMart witnessed a substantial increase in price in the last couple of trading sessions from the 21 DEMA on the daily chart. Additionally, the counter witnessed an ‘ascending triangle’ breakout, construing a positive development. From a technical standpoint, the counter has gained significant traction in terms of volumes lately, which is likely to augur well from a short to medium-term outlook. On the oscillator front, the MACD signals a continuation move, suggesting a potential upside journey in a comparable period. Hence, we recommend to BUY DMart around Rs 5,000-4,960 | Stop loss: Rs 4,790 | TGT: Rs 5,350-5,400
NSE Scrip – Hindustan Unilever
View – Bullish
Last Close – Rs 2,727
Hindustan Unilever witnessed a decisive multi-week breakout in the last trading week, soaring nearly 4 per cent. The counter has witnessed very strong traction in the last couple of trading weeks and seems poised to continue its northward move in the comparable period. Additionally, the recent gains have been backed by a notable increase in trading volumes, adding a bullish quotient to its undertone. On the oscillator front, MACD signals a continuation move, suggesting a potential upside journey for the counter.
Hence, we recommend to BUY HINDUNILVR on dips of 2700-2680 | Sto loss: Rs 2,550 | TGT: Rs 2,950-3,000
(Osho Krishan is a senior analyst of technical & derivatives at Angel One Ltd. Views expressed are his own.)
First Published: Jul 22 2024 | 6:34 AM IST
