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BUY
ABB
Buy Near: Rs 2,720
Target: Rs 2,880
Stop Loss: Rs 2,640
In the past few weeks, ABB has corrected around 20 per cent from the peak of Rs 3,300 and has entered an oversold territory. At this juncture the stock has turned back for the placement of 200-day moving average. The risk reward looks lucrative to go long.
Thus, we advise traders to buy the stock on dips near Rs 2,720 with a strict stop of Rs 2,640.
BUY
MRPL
Buy Near: Rs 53
Target: Rs 57
Stop Loss: Rs 51
In the past few sessions, MRPL has come down from Rs 63 towards Rs 52 mark. There is a multiple bottom formation near Rs 52 level. In addition, after Monday’s session we are witnessing a bullish harami candlestick pattern on the daily time scale.
Hence, we advise traders to buy the stock near Rs 53 with a strict stop of Rs 51.
(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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