Bharat Forge | BUY | Target Price: Rs 820
After peaking out in November 2017, this stock is attempting a
fresh breakout and has been relatively outperforming the general markets. Daily
MACD stays in continuing buy mode while Weekly MACD has reported a fresh
positive crossover. The prices have ended above the Upper Bollinger Band on the
weekly charts. Though there might be a minor pullback, the stock is likely to
post a strong relative performance to the general markets. Upward revision of
prices cannot be ruled out.
Can Fin Home | BUY | Target Price: Rs 560
The stock has remained in consistent downtrend over last
several months. In the process of bottoming out it took a double bottom support
in the 420-435 zones and has attempted to reverse the trend. In all
probabilities, the stock may continue with its uptrend. It has managed to end
above its 200-DMA and has been consolidating in a capped range. Prices have
taken support at its 20-period MA on the Weekly Charts. Weekly MACD remains in
continuing buy mode. The prices have closed above upper Bollinger Band on the
Weekly Charts which is a positive sign. Some up move in prices is expected in
the price on short term basis.
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