Mehul Kothari recommends Buy on CSB Bank, Dhanuka Agritech; Check Why

BUY

CSB BANK

Buy Near: Rs 220

Target: Rs 240

Stop Loss: RS 210

Since the past few sessions, banking stocks are doing well and recently CSB BANK confirmed a range breakout above Rs 220 mark. The price action was supported with decent volumes and the stock has managed to close above the 200-day moving average. Even the daily RSI has managed to break previous swing.

Thus, we advise traders to buy the stock near Rs 220 for a target of Rs 240 in the coming sessions.

BUY

DHANUKA AGRITECH

Buy Near: Rs 730

Target: Rs 790

Stop Loss: Rs 700

Since November 2021, DHANUKA has been trading sideways to slightly negative. However, recently the stock has broken out of the range as per price action. The price action resembles descending triangle breakout and that could trigger faster upside. Along with the breakout, the counter has managed to close back above its 200-day exponential and simple moving average.

Thus, we advise traders to buy the stock near Rs 730 for a target of Rs 790 in the coming sessions.

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor