Stocks to Buy: Britannia, Aarti Industries are 2 technical picks recommended by Reliance Securities
Stock Picks Target price, Upside and investments’ rationale
Britannia Industries – Reliance Securities has recommended buying Britannia Industries’ in the recommended price Range of ₹4800- ₹4920. The Target Price recommended for Brittanie share price is ₹5650. This indicated target price recommends an upside of 14.8-17.7% for Britannia Industries’ Share price. The Stoploss recommended by Reliance Securities for Britannia Industries share price stands at ₹4440
Time Horizon for the Potential Absolute 14.8% returns by Britannia Industries share price stands at 8-10 weeks.
Investments Rational-Britannia Industries
The stock has witnessed a sharp fall from its all-time high of 6500 levels it tested in first week of Oct’24 witnessing a price and time correction.
It has bounced from its 200 weeks average with higher bottoms and positive price formation over the past few weeks.
RSI is piercing upwards on daily charts and witnessing crossover on the weekly charts from its lower range indicating a strong reversal.
Therefore, we recommend directional long position with the target of Rs.5650 and stop loss of Rs.4440 on closing basis.
Aarti Industries- Reliance Securities has recommended buying Aarti Industries shares in the pric Range of ₹380- ₹393. The Target Price recommended by Reliance Securities for Aarti Industries share price is ₹480 which translates into an upside of 22%- 26%.
The Stop Loss recommended for Aarti Industries share price is ₹362
The time Horizon for the Potential Absolute Return of at least 22.1% by Aarti Industries shares is 8-10 Weeks
Aarti Industries Investment Rationale
The stock is making higher bottoms and higher tops moving in a narrow range awaiting a stronger breakout from current levels.
The sustained sell off over the past few months and recent price consolidation indicates price exhaustion directing for an upward breakout.
Stochastic & RSI are converging and inching upwards from their averages on multiple time frames and both the indicators are in reversal mode.
Therefore, we recommend directional long position with the target of Rs.480 and stop loss of Rs.362 on closing basis.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
