Domestic brokerage and research firm Anand Rathi has recommended six stocks that investors can look to buy with the time frame of three-six months, which includes Bharti Airtel, ICICI Bank, Eicher Motors, Britannia, Maruti Suzuki and Zee Entertainment.
Anand Rathi’s top stock picks –
Bharti Airtel: “During this ongoing geopolitical issue the stock seems to outperform which suggests relative strength. On the daily scale; the stock has turned from its 200 DEMA and 200 DSMA placed near 650 mark. Thus, we advise traders to buy the stock as per the give trade setup with a time horizon of 3 – 6 months,” the brokerage stated which has a target price of ₹800 and stop loss of ₹570.
ICICI Bank: “We saw the data from 2016 and found that whenever the RSI of ICICIBANK went below 30 mark there has been a bottom formation most of the times and this time too the RSI is below 30.” The brokerage has a target price of ₹800 and stop loss of ₹570.
Eicher Motors: “Currently it is resting at the lower end of this range. It is the placement of 200 EMA and 200 SMA on the weekly scale and also previous demand zone,” suggested Anand Rathi. It has a target price of ₹2,800 and stop loss of ₹1,950.
Zee: At this point in time it is approaching the 78.6% retracement level of the rally which started from 170 to 380. Also, it is approaching the zone from where the rally started due to its merger with Sony, the brokerage highlighted. It has a target price of ₹280 and stop loss of ₹180.
Britannia: “Along with other FMCG stocks; BRITANNIA too has been in a corrective mode since few months. The demand zone coincides with the placement of 200 EMA and 200 SMA on the weekly scale,” the brokerage note added. It has a Buy rating with target price of ₹3,900 and stop loss of ₹2,740.
Maruti: Anand Rathi’s Buy tag on the auto stock comes with a target price of ₹8,500 and stop loss of ₹6,000.
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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