Mphasis, Kalyan Jewellers, JM Financial are 3 stocks to buy, says LKP Securities

Amid the rising volatility in the Indian stock markets, Rupak De, Senior Technical Analyst at LKP Securities, a domestic brokerage firm has shared three stocks- Kalyan Jewellers India Ltd, Mphasis Ltd and JM Financial Ltd - from a trading point of view. The analyst has suggested to long all the three counters. Here's what the analyst has to say about these counters:

Kalyan Jewellers India | Buy | Target Price: Rs 790 | Stop Loss: Rs 729

Kalyan Jewellers has given a consolidation breakout on the daily chart, suggesting a rise in optimism. The RSI is showing a bullish crossover on the daily timeframe. Besides, the stock has sustained above 21EMA. On the upside, the stock may move towards Rs 790, with support positioned at Rs 729.

JM Financial | Buy | Target Price: Rs 175 | Stop Loss: Rs 149

JM Financial has given a rounding bottom breakout on the daily chart, suggesting a rise in optimism. The RSI is showing a bullish crossover on the daily timeframe. Besides, the stock has been sustaining above 21EMA. On the upside, the stock may move towards Rs 175, with support positioned at Rs 149.

Mphasis | Buy | Target Price: Rs 175 | Stop Loss: Rs 149

Mphasis moved higher after a consolidation on the daily chart, signaling increased optimism. The sentiment remains strong as it reclaimed the 50 EMA on the daily timeframe. Besides, a strong hidden positive divergence is seen in the stock RSI. On the upside, momentum could carry it towards Rs 3,180, while on the downside, support is seen at Rs 2,869.