IRCTC, Aditya Birla Fashion, UPL: How should you trade these buzzing stocks?

Domestic stock indices on Monday gave up early gains to settle lower amid a lack of decisive cues. The BSE Sensex fell 216.28 points, or 0.34 per cent, to close at 63,168.30. The NSE Nifty dropped 70.55 points, 0.37 per cent, to end at 18,755.45.

Select stocks such as Aditya Birla Fashion and Retail (ABFRL), Indian Railway Catering and Tourism Corporation (IRCTC) and UPL may see some action on Tuesday. Here is what brokerages have to say on these stocks ahead of Tuesday's trading session:

Aditya Birla Fashion and Retail | Buy | Target Price: Rs 245 | Stop Loss: Rs 199
ABFRL bottomed out near Rs 186 level after falling from a high of Rs 360 level. It saw a pullback, which helped it move past its 50-EMA level of Rs 209. The bias has improved and there is scope for upward movement. The RSI indicator is well-placed and technical charts are looking attractive. We recommend a ‘Buy’ on the stock. Keep a stop loss at Rs 245 for an upside target of Rs 199.

Recommended by: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

Indian Railway Catering and Tourism Corporation | Buy | Target Price: Rs 245 | Stop Loss: Rs 199
IRCTC has given a Flag pattern breakout with good volume. The stock is trading at a 6-month high. The momentum indicator MACD has given a bullish crossover while the RSI too has broken its previous high. indicating an increase in bullish bias. One can expect the stock to reach a target of Rs 708 in the short term. A stop Loss can be placed at Rs 640 level.

Recommended by: IIFL Securities

UPL | Buy | Target Price: Rs 780 | Stop Loss: Rs 650
Shares of UPL have closed at a five-week high level, with higher-bottom formation. The stock made a double bottom near the sub-Rs 660 level and one can expect an upward breakout from the current juncture. The weekly RSI is turning upward and the risk reward is in favour, providing a good opportunity to add longs. Long positions can be initiated in the range of Rs 691-680 with a target of Rs 780 and a stop loss of Rs 650.

Recommended by: Reliance Securities


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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