According to Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi Shares and Stock Brokers, investors should consider purchasing shares of Hindustan Copper, Hindustan Petroleum, and Shaily. These stocks are noted for their strong market performance and future growth potential. Kothari provides specific buying ranges, stop-loss levels, and target prices for each stock, suggesting a strategic approach for investors aiming to capitalize on market trends.
Hindustan Copper: A Promising Investment
Hindustan Copper has shown strong price behavior after reclaiming the ₹345–350 zone, which was a significant resistance level. The stock is currently hovering near recent highs, indicating renewed buying interest following a substantial period of base formation. The bullish structure features higher highs and higher lows, with prices consistently above key moving averages. The Relative Strength Index (RSI) remains healthy, supporting the likelihood of further upward movement. Investors are advised to consider buying shares in the range of ₹360–₹340, with a stop-loss placed at ₹320 and a target price of ₹410, projected to unfold over 60 to 90 days.
Hindustan Petroleum: Sustaining Momentum
Hindustan Petroleum is trading above its previous breakout zone near ₹445, which has now become a strong support area. The stock has seen a controlled pullback while respecting short-term moving averages, indicating that the broader uptrend is intact. The trend structure reflects a consistent pattern of higher highs and higher lows, with momentum stabilizing. As long as the stock remains above ₹445, the outlook remains bullish, with a potential target of ₹515. Investors are encouraged to buy within the range of ₹455–₹445, establishing a stop-loss at ₹416. This investment strategy is also expected to unfold over a time frame of 60 to 90 days.
Shaily: Long-Term Growth Potential
Shaily Engineering Plastics is positioned within a strong long-term uptrend and has been consolidating after a notable price increase. The recent correction appears healthy, allowing the stock to build a solid base rather than signaling weakness in the trend. The overall structure favors buyers, supported by moving averages and stabilizing momentum. A sustained close above ₹2600 could trigger the next upward move. Investors seeking a positional opportunity should consider accumulating shares in the range of ₹2525–₹2475, with a stop-loss at ₹2100 and a target price of ₹3300. This investment is projected to unfold over a one-year time frame.
Disclaimer: Digihunt is not a financial advisor and this is not investment advice.
