Three stocks to buy, as recommended by Ankush Bajaj:
Manappuram Finance Ltd: Buy at ₹217.50 | Target ₹235-240 | Stop loss ₹210
The Relative Strength (RS) of this stock is rising, also it’s near to lifetime high levels. On hourly chart, stock has given breakout with Rectangle pattern. Also, yesterday’s volume was huge. Expecting a good rally in this stock.
HDFC Bank Ltd: Buy at ₹1,768 | Target ₹1,810-1,825 | Stop loss ₹1,742
HDFC Bank shares have given triangle breakout from ₹1,734 levels on the hourly chart, and RS is rising. Also, on 15 min timeframe, the stock has given rectangle breakout with the target of ₹1,825.
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Muthoot Finance Ltd: Buy at ₹2,374 | Target ₹2,520-2,575 | Stop loss ₹2,335
The Muthoot Finance stock is trading at record levels. It has corrected and tested the support zone. Also, the stock has given rectangle breakout from ₹2,337 level, which will act as a support. Final target will be ₹2,575 in this stock.
MarketSmith India’s best stock recommendations for 21 March:
Afcons Infrastructure Ltd: Current market price: ₹470 | Buy range: ₹460–474 | Profit goal: ₹540 | Stop loss: ₹444| Timeframe: 2–3 months
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Gujarat Fluorochemicals Ltd: Current market price: ₹ 4,004.2 | Buy range: ₹3,960–4,040 | Profit goal: ₹4,850| Stop loss: ₹ 3,750| Timeframe: 2–3 months
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
MarketSmith India: Trade name: William O’Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.
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Disclaimer: The views and recommendations given in this article are those of individual analysts and do not represent the views of Mint. We advise investors to check with certified experts before making any investment.
