1 mid-capitalization share and 1 small-capitalization share to be “bought” by HDFC Securities in the short term

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JB Chemicals and Pharmaceuticals-Buy for a target price of Rs. 2200

HDFC Securities is bullish on the Mumbai-based pharmaceutical company which manufactures pharmaceutical formulations, herbal remedies as well as APIs, JB Chemicals and Pharma. The brokerage suggested to “buy” the script for 19.8% gains and set a target price of Rs. 2,200 for the 3-month investment horizon. The suggested stop loss for the trade is Rs. 1620.

Technical remarks:

• The stock price broke off the downtrend line of the daily chart with higher volumes.

• The stock price is forming an upper upper lower bullish formation on the weekly chart.

• The meter is trading above its 5.20 and 50 day EMA and this shows that the short to medium term trend of the stock is positive.

• Oscillators including RSI and MFI are placed above 60 and rising, indicating the strength of the current uptrend

• Additionally, DI is trading above -DI as the ADX line has started to rise, indicating momentum in the current uptrend, the brokerage research report adds.

Store Last negotiated price Target Upside down Horizon
JB Chemistry and Pharmaceuticals Rs. 1,835.8 Rs. 2200 19.80% 3 months
Kajaria ceramic:

Kajaria ceramic:

For the short term of 3 months, brokerage HDFC Securities recommends the purchase of Kajaria Ceramics scrip for a target price of Rs. 1490, implying gains of 19.95% from the last traded price of Rs. 1242.15

Technical remarks:

• The company’s stock price broke previous upper resistance of Rs. 1229

• The stock price found support on its 34-day EMA

• The stock’s main trend is bullish with higher highs and lows

• On the weekly charts, the stock broke away from the bullish “Flag” pattern.

• The price break is accompanied by a jump in volumes.

• Stocks have maintained levels above their mid- to long-term moving averages. Indicators and oscillators have turned bullish on the daily and weekly charts, the brokerage adds.

The ceramic and granite sector entity is the largest manufacturer of vitrified or ceramic tiles in the country. The total annual capacity of the company amounts to 70.40 mn. square meters, which spans eight factories located in different states, including UP, PA, Gujarat and Rajasthan.

Store Last negotiated price Target Upside down Horizon
Kajaria ceramic Rs. 1242.15 Rs. 1490 19.95% 3 month
Disclaimer:

Disclaimer:

Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution. Greynium Information Technologies, the author and the brokerage houses are not responsible for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.

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