Jubilant Foods, Asahi India Glass, Akzo Nobel: Target prices for these buzzing stocks

Indian equity markets settled on a muted note amid mixed cues. Profit booking in PSU counters after RBI's new guidelines weighed on the market sentiments but weaker US payroll data has increased expectations of rate cuts by the US Fed. BSE Sensex added only 17.39 points, or 0.02per cent to settle at 73,895.54. NSE's Nifty50 index dropped 33.15 points, or 0.15 per cent, to end the session at 22,442.70.

Some buzzing stocks namely Jubilant Foodworks Ltd, Asahi India Glass Ltd and Akzo Nobel India Ltd are likely to remain under the spotlight of traders for the session today. Here is what analysts from various brokerage firms have to say on these stocks ahead of Monday's trading session:

Asahi India Glass | Buy | Target Price: Rs 713-745 | Stop Loss: Rs 594
Asahi India Glass exhibited a notable breakout above the symmetrical triangle breakout zone at Rs 625, confirmed by a strong bullish candle on the daily chart, indicating a likely continuation of the medium-term uptrend. Breakout is witnessed with an increase in volume activity indicating influx of market participation at breakout. The stock is displaying higher tops and higher bottoms, along with maintaining position above a medium-term down-sloping trendline, affirming its medium-term uptrend. The weekly band Bollinger buy signal signifies increased momentum on short to medium term charts. The daily, weekly and monthly Relative Strength Index (RSI) is holding above its reference line indicating positive bias across all the time frames. After surpassing the Multiple Resistance level, the stock is anticipated to advance towards previous swing highs set in late September 2022, targeting a range between Rs 713 and Rs 745
Recommended by: Axis Securities

Akzo Nobel India | Buy | Target Price: Rs 2,800 | Stop Loss: Rs 2,200
Akzo Nobel India Limited is a leading manufacturer, distributor, and seller of paints and coatings in India and worldwide. After a minor retracement, the stock is seen reverting back from previous bottoms placed around Rs 2,400 levels. Stochastic looks extremely oversold suggesting pullback towards Rs 2,800 levels. Based on the aforementioned explanations, SMIFS recommended buying Akzo Nobel India on dips in the price range of Rs 2,450-2,400 for the target of Rs 2,800.
Recommended BY: SMIFS

Jubilant FoodWorks | Buy | Target Price: Rs 578 | Stop Loss: Rs 405
Jubilant Food has two key technical analysis signals- a bull divergence on the daily moving average convergence divergence
(MACD) indicator and a violation of a bearish trend line that had been in place for 3-4 months. A bull divergence occurs when the stock price forms lower lows while the MACD indicator forms higher lows, indicating a potential reversal from a downtrend to an uptrend. The breach of the bearish trend line suggests a potential shift in the stock's direction from bearish to bullish. Based on these signals, we advise traders to 'go long; in the stock within the price range of Rs 450-475. Additionally, upside target of Rs 578, indicating the potential profit opportunity. To manage risk, a stop loss is advised to be placed near Rs 405 on a daily closing basis.
Recommended BY: Anand Rathi Shares and Stock Brokers

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