Buy Colgate-Palmolive, Muthoot Finance shares; sell Infosys stock, says LKP Securities
An analyst from LKP Securities said that Infosys has fallen from the recent consolidation on the daily chart, suggesting a rise in bearishness and the stock price has fallen below 21EMA.
- Nov 19, 2024,
- Updated Nov 19, 2024 8:05 AM IST
Amid the rising selling pressure in the Indian stock markets, Rupak De, Senior Technical Analyst at LKP Securities, a domestic brokerage firm has shared three stocks- Colgate-Palmolive (India) Ltd, Muthoot Finance Ltd and Infosys Ltd - from a trading point of view. The analyst has suggested to long the first two, while he has a 'short' call on the last one. Here's what the analyst has to say about these counters:
Colgate Palmolive | Buy | Target Price: Rs 2,850-2,950 | Stop Loss: Rs 2,648
Colgate Palmolive has found support at a historical congestion level on the daily chart. The RSI is in a bullish crossover while remaining in the deeply oversold zone. Additionally, the stock has formed a bullish harami pattern on the daily timeframe. In the short term, the stock might witness a recovery. On the higher end, it could move towards Rs 2,850-2,950, while support is placed at Rs 2,648.
Muthoot Finance | Buy | Target Price: Rs 1,940-1,980 | Stop Loss: Rs 1,854
Muthoot Finance has given a breakout from the recent downwards consolidation on the daily timeframe, suggesting a rise in optimism. The RSI has come out from the oversold zone and is in a bullish crossover. Besides, the stock has moved above its 21EMA. In the short term, the stock might witness a rally. On the higher end, it could move towards Rs 1,940-1,980, while support is placed at Rs 1,854.
Infosys | Sell | Target Price: Rs 1,750 | Stop Loss: Rs 1,851
Infosys has fallen from the recent consolidation on the daily chart, suggesting a rise in bearishness. Besides, the stock price has fallen below 21EMA on the daily timeframe. The RSI is in bearish crossover and falling, indicating a weak momentum. In the short term, the stock might witness a correction. On the lower end, it could move towards Rs 1,750, while support is placed at Rs 1,851.
Amid the rising selling pressure in the Indian stock markets, Rupak De, Senior Technical Analyst at LKP Securities, a domestic brokerage firm has shared three stocks- Colgate-Palmolive (India) Ltd, Muthoot Finance Ltd and Infosys Ltd - from a trading point of view. The analyst has suggested to long the first two, while he has a 'short' call on the last one. Here's what the analyst has to say about these counters:
Colgate Palmolive | Buy | Target Price: Rs 2,850-2,950 | Stop Loss: Rs 2,648
Colgate Palmolive has found support at a historical congestion level on the daily chart. The RSI is in a bullish crossover while remaining in the deeply oversold zone. Additionally, the stock has formed a bullish harami pattern on the daily timeframe. In the short term, the stock might witness a recovery. On the higher end, it could move towards Rs 2,850-2,950, while support is placed at Rs 2,648.
Muthoot Finance | Buy | Target Price: Rs 1,940-1,980 | Stop Loss: Rs 1,854
Muthoot Finance has given a breakout from the recent downwards consolidation on the daily timeframe, suggesting a rise in optimism. The RSI has come out from the oversold zone and is in a bullish crossover. Besides, the stock has moved above its 21EMA. In the short term, the stock might witness a rally. On the higher end, it could move towards Rs 1,940-1,980, while support is placed at Rs 1,854.
Infosys | Sell | Target Price: Rs 1,750 | Stop Loss: Rs 1,851
Infosys has fallen from the recent consolidation on the daily chart, suggesting a rise in bearishness. Besides, the stock price has fallen below 21EMA on the daily timeframe. The RSI is in bearish crossover and falling, indicating a weak momentum. In the short term, the stock might witness a correction. On the lower end, it could move towards Rs 1,750, while support is placed at Rs 1,851.