In a recent discussion on CNBC-TV18, Shrikant Chouhan, an expert from Kotak Securities, shared his insights on two promising stocks that have caught his attention. Chouhan believes that both Mishra Dhatu Nigam Ltd (MIDHANI) and Kirloskar Ferrous Industries are displaying strong bullish trends and have the potential for substantial growth in the near future.

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Shrikant Chouhan expressed his optimism for MIDHANI, a company currently trading around Rs 340-345. He observed that the stock has been consistently surpassing its previous highs on a week-on-week basis. Notably, each time MIDHANI breaches its previous high, it does so with significant trading volumes, indicating strong market interest.

Based on the stock's formation and performance, Chouhan predicts that MIDHANI will continue to rise and potentially reach the range of Rs 375-380.

Encouragingly, over the past month, shares of MIDHANI have already gained more than 17 percent, a positive sign of its upward trajectory.

Chouhan suggested investors consider purchasing MIDHANI at its current levels, with a prudent stop loss set at Rs 330 to safeguard against potential downside risk.

Shrikant Chouhan also expressed enthusiasm for Kirloskar Ferrous Industries, a part of the Kirloskar Group, which has shown remarkable resilience and strength. He noted that several stocks within the Kirloskar basket have been performing well, but Kirloskar Ferrous Industries stands out due to its steady progress.

The stock is currently crossing its monthly highest level at Rs 530, a strong indication of its upward momentum. Based on the formation and current trends, Chouhan predicted that Kirloskar Ferrous Industries has the potential to advance towards the Rs 590 mark.

In the last month alone, the stock has already witnessed an impressive surge of more than 14 percent, further supporting Chouhan's positive outlook.

For investors interested in Kirloskar Ferrous Industries, Chouhan suggested making a strategic buy at current levels, with a stop loss close to Rs 510 to mitigate risks effectively.

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