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HomeBusinessMehul Kothari recommends to buy Astral, Just Dial on dips; Check Why

Mehul Kothari recommends to buy Astral, Just Dial on dips; Check Why

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BUY


Astral


Buy Near: Rs 2,020


Target: Rs 2,180


Stop Loss: Rs 1,940


Recently Astral corrected from the peak of Rs 2,650 and sneaked below the Rs 2,000-mark in a short span of time. At this juncture, the stock is hovering above the placement of its 200-day moving average.


On the daily scale we are witnessing reversal candlestick pattern which indicates possibility of decent pullback. Thus, we advise traders to buy it in the range of Rs 2,030 – Rs 2,000 with a strict stop of Rs 1,940.


BUY


Just Dial


Buy Near: Rs 620


Target: Rs 680


Stop Loss: Rs 590


On the line chart, has confirmed a range breakout above Rs 620 mark and that too after attempts of many months. This price action was accompanied with humongous volumes.


Also the daily RSI has managed to clear its 60 value and that suggests strength. Thus, we advise traders to buy the stock on dip near Rs 620 with a strict stop loss of Rs 590.


(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).

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