Stocks Suggestion by Moneycontrol

intraday suggestions by moneycontrol

UltraTech Ceme | LTP: Rs 4,459 | Target price: Rs 4,880 | Stop loss: Rs 4,200 | Upside: 9%

On October 8, the stock prices finally managed to surpass the multiple resistance zones around Rs 4,200 –4,250 which eventually confirmed an ascending triangle pattern breakout on the daily interval.

Since the breakout, the stock has been consolidating above its trendline support and is likely to complete its throwback.

The recent leg of strong up-move is also supported by strong volumes and it also resembles a strong consolidation breakout.

Prices are above the 50 and 100-day exponential moving averages on the weekly chart.

Momentum oscillator RSI (14) is reading near 60 levels with positive crossover, which is positive for the counter.

The MACD indicator is reading above its line of polarity with positive sentiments.

[HDFC | LTP: Rs 1,978.10 | Target price: Rs 2,120 | Stop loss: Rs 1,900 | Upside: 7%]

On the daily chart, HDFC has given a breakout of the consolidation pattern and sustained above all its major exponential moving averages.

The stock had been in the consolidation mode for the last couple of months and a recent breakout has pushed the price above its horizontal trendline resistance on a daily scale.

A bullish candle formed on the weekly candle has closed above its previous several weeks high.

The majority of indicators and oscillators are showing a positive trend for the current scenario.

Source