Here is a look at some of the top recommendations from HDFC Securities –
Irb Infrastructure Developers
The stock price of Irb Infrastructure has gained 1.85% in the last five days, 3.19% in the last one month, 19.41% in the last six months and a whopping 35.30% in the last one year.
The report further said that, “Short term trend of the stock turned positive as stock price has started trading above multiple resistances. Volume has started to rise along with the up move in the stock price. RSI and MFI oscillators are rising upwards on the daily and weekly chart, Indicating strength in the current uptrend.”
The report, however, cautioned investors to set a stoploss at Rs 30.60 to avoid financial losses.
E I D-Parry (India)
Analysts at the HDFC Securities see nearly 6% upside potential in E I D-Parry (India) stocks and recommended investors to buy the scrip at an upside target of Rs 555, in its brokerage report. “The overall bullish chart pattern of the stock price indicates long trading opportunity. One may look to buy as per the levels mentioned above,” said the HDFC Securities’ report.
The report further said that, “After showing minor declines/sideways consolidation, the stock price- EIDPARRY has shifted into an upside bounce. Today’s upmove could be considered as an upside breakout of the narrow range movement/immediate resistance.”
The stock price of E I D-Parry (India) fell 2.07% in the last five days, 7.64% in the last one month, while it gained 1.70% in the last six months, whereas it plunged 16.59% in the last one year.
The report also said that the short-term trend seems to have turned positive. We observe a formation of positive candlestick pattern as per intraday/daily/weekly timeframe chart. Volume has started to rise along with the upmove in the stock price.
The report, however, cautioned investors to set a stoploss at Rs 497 to avoid any financial setback.