Coforge, Atul, Olectra Greentech, Rhi Magnesita & Stylam: Check target prices for these 5 stocks

Brokerage firm HDFC Securities has suggested five stocks to buy amid the weak trend in the Indian market on the back of weak domestic and global cues. The domestic broker has picked Coforge Ltd, Atul Ltd, RHI Magnesita India Ltd, Stylam Industries and Olectra Greentech Ltd to make money. HDFC Securities has suggested buying all these counters based on technical parameters. Here's what brokerage firm has said on these stocks:

 

Stylam Industries | Buy | Target Price: Rs 2,250 | Stop Loss: Rs 1,995

Short term trend of Stylam Industries is positive as stock price has crossed 5- and 11-day EMA Volume has started to rise along with the up move in the stock price. RSI oscillator is rising upwards on the daily chart, Indicating strength in the current uptrend. The overall bullish chart pattern of the stock price indicates a long trading opportunity. One may look to buy as per the levels mentioned above.

 

Olectra Greentech | Buy | Target Price: Rs 2,250 | Stop Loss: Rs 1,995

After showing minor declines/sideways consolidation, Olectra Greentech price in cash has shifted into an upside bounce. The up move could be considered as an upside breakout of the narrow range movement/immediate resistance. The short-term trend seems to have turned positive. We observe a formation of positive candlestick patterns as per intraday/daily/weekly timeframe chart. Volume has started to rise along with an up move in the stock price. The intraday/daily RSI is showing positive indication. The overall bullish chart pattern of the stock price indicates long trading opportunities in future segments. One may look to buy in derivatives as per the levels mentioned above.

 

RHI Magnesita India | Buy | Target Price: Rs 653 | Stop Loss: Rs 585

After showing minor declines/sideways consolidation, Rhi Magnesita has shifted into an upside bounce. Today’s up move could be considered as an upside breakout of the narrow range movement/immediate resistance. The short-term trend seems to have turned positive. We observe a formation of positive candlestick patterns as per intraday/daily/weekly timeframe chart. Volume has started to rise along with the up move in the stock price. The intraday/daily RSI is showing positive indication. The overall bullish chart pattern of the stock price indicates a long trading opportunity. One may look to buy as per the levels mentioned above.

 

Atul | Buy | Target Price: Rs 8,278 | Stop Loss: Rs 7,547

After showing minor declines/sideways consolidation, Atul price in cash has shifted into an upside bounce. Today’s up move could be considered as an upside breakout of the narrow range movement/immediate resistance. The short-term trend seems to have turned positive. We observe a formation of positive candlestick patterns as per intraday/daily/weekly timeframe chart. Volume has started to rise along with an up move in the stock price. The intraday/daily RSI is showing positive indication. The overall bullish chart pattern of the stock price indicates long trading opportunities in future segments. One may look to buy in derivatives as per the levels mentioned above.

 

Coforge | Buy | Target Price: Rs 7,600 | Stop Loss: Rs 6,800

Coforge has broken out from short-term consolidation Stock is placed above all important moving averages. Higher top and higher bottom on the daily chart. Indicators and oscillators have turned bullish on the daily charts.