Buy Tech Mahindra, Lupin & Chalet Hotels shares, says LKP Securities

Amid the rising trend in the Indian stock markets in the last few sessions, Rupak De, Senior Technical Analyst at LKP Securities, a domestic brokerage firm has shared three stocks- Lupin Ltd, Tech Mahindra Ltd and Chalet Hotels Ltd- from a trading point of view. The analyst has suggested too long all the three counters. Here's what the analyst has to say about these counters:

Lupin | Buy | Target Price: Rs 2,240 | Stop Loss: Rs 2,059

Lupin has registered its highest-ever closing, driven by strong positivity around the stock. The sentiment is likely to remain positive as long as the stock stays above the recent consolidation. In the short term, the trend may continue to be positive, with potential to reach Rs 2,240. Support is placed at 2,059.

Tech Mahindra | Buy | Target Price: Rs 1,750 | Stop Loss: Rs 1,593

Tech Mahindra has given a downward consolidation breakout on the daily chart, indicating increased optimism. The price rise was supported by higher volume. The daily RSI, with its bullish crossover, also supports the bullish momentum. On the higher end, the stock might move towards Rs 1,750, while support is placed at Rs 1,593.

Chalet Hotels | Buy | Target Price: Rs 880 | Stop Loss: Rs 800

Chalet Hotels has given a consolidation breakout on the daily chart, indicating increased optimism. Additionally, the stock has moved back above the critical 21-day EMA on the daily timeframe. The daily RSI is in a positive crossover, indicating bullish momentum. On the higher end, the stock might move towards Rs 880, while support is placed at Rs 800.