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Technical stock picks | Coforge, Syngene, Cipla, MCX on the radar
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Technical stock picks | Coforge, Syngene, Cipla, MCX on the radar
May 17, 2023 12:16 AM

Technical Prakash Gaba of prakashgaba.com and Sudarshan Sukhani of Technical Trends, along with Rajesh Palviya of Axis Securities share their top stock picks for the day.

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From Sudarshan Sukhani

Sukhani finds a buying opportunity in Coforge. He advises traders to keep a stop loss of Rs 4,060. Shares have gained more than 8 percent each in the last month.

Sukhani's is an intraday short is on Syngene. For this he advises a stop loss of Rs 710. Shares of Syngene have gained more than 13 percent over the last month.

Cipla is another intraday short. He advises traders to keep a stop loss of Rs 942. Shares have remained flat over the last month.

According to Sukhani MCX is a buy-on-dip opportunity. For this he advises a stop loss of Rs 1,340. Shares of MCX are down more than 7 percent over the last month.

For Prakash Gaba

Prakash Gaba’s first buy call of the day is on Exide Industries. He recommends this with a stop loss below Rs 190 for an upside target of Rs 200-205. Shares have gained more than 3 percent in the last month.

He recommends a buy call on United Breweries with a stop loss of Rs 1,420 for an upside target Rs 1,500. The stock is up more than 2 percent over the last month.

Read Here | Trade Setup for May 17: Analysis on whether the Nifty 50 has peaked for now

For Rajesh Palviya

Rajesh Palviya is bullish on IOC. The stock has shown strong long built up action in previous trading session. He believes that IOC can continue further more upside from current levels and possible target is Rs 93 to 95. He advises to buy with a stop loss of Rs 85. The stock is up more than 13 percent over the last month.

He recommends a buy call on Birlasoft with a stop loss of Rs 320 for an upside target Rs 345-350. The stock is up more than 26 percent over the last month.

Hindustan Aeronautics is another buy call from Palviya. His recommendation comes with target of Rs 3,150-3,180 and a stop loss of Rs 3,050. The stock has gained more than 9 percent in the last month.

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