BUY DATAMATICS GLOBAL SERVICES LTD | TARGET: 330 | STOP LOSS: 290
Datamatics Global has been trading in a rising channel on a daily time-frame. The stock has seen a strong resurgence from the short-term exponential moving average in the recent past and this time the moving average is being accompanied by the supporting trend-line indicating a strong demand zone for the counter. Hence looking at the technical setup and the risk-reward ratio, it is advisable to go long in the stock from a short-term perspective.
BUY BERGER PAINTS LTD | TARGET: 860 | STOP LOSS: 785
Berger Paints is in a secular uptrend and is hovering near its 21-DEMA on the daily chart that even coincides with the mean of the Bollinger band. At present, the stock is placed near its strong historical consolidation zone and is expected to surge higher from here onwards. On the oscillator front, 14-period has seen positive crossover in the last trading session affirming the overall bullish stance for the stock.
BUY SVP GLOBAL VENTURES LTD | TARGET: 142 | STOP LOSS: 120
SVP Global Ventures has been trading in a cycle of higher highs, higher lows and is currently hovering near its previous swing highs indicating an initial reversal signal in the counter. On the daily time frame, the stock has bounced from the supporting trend-line that even coincides with the lower band of the Bollinger (20, 2), indicating nearby support. The formation of candlestick in the recent period could be seen as the early sign of reversal in the counter and could be utilized from short-term perspective.
Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.