Tech Stars : Buy Mahanagar Gas Limited And V-Guard Industries Limited By Religare Broking
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Mahanagar Gas Limited
Buy Mahanagar Gas Limited @ 900-910 CMP 910.00 Stop Loss 850 Target 1020
TECHNICAL RATIONALE – We’re seeing noticeable traction in the stocks related to gas distribution and MGL is also participating in the move. It has formed a fresh buying pivot after reclaiming the major moving averages on the daily chart. We thus advise creating fresh longs in the mentioned range.
V-Guard Industries Limited
Buy V-Guard Industries Limited @ 268-271 CMP 270.20 Stop Loss 254 Target 295
TECHNICAL RATIONALE – VGuard has been trading in a broader consolidation range for the last five years and currently trading around the upper band of the same. The recent price action combined with a surge in volumes indicates a strong possibility of a breakout. We recommend accumulating as per the recommended levels.
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