Technical analysts have recommended five stocks for investors to track, including Redington, 360 One Wam, VA Tech Wabag, EID-Parry and Sirca Paints India. The suggested trading strategies include entry levels, price targets for upside potential and stop-loss limits to manage downside risk.
Redington Ltd. (CMP: Rs 348.75)
Vinay Rajani, CMT, Senior Technical and Derivative Analyst at HDFC Securities, has recommended Redington with a target price of Rs 375. He has advised traders to maintain a stop loss at Rs 333. The target indicates a potential upside of around 7.5% from the stock's current market price. The stop loss is approximately 4.5% below the CMP.
360 One Wam Ltd. (CMP: Rs 1,203.00)
Osho Krishan, Chief Manager for Technical and Derivative Research at Angel One, has recommended buying 360 One Wam at around Rs 1,200. Krishan has set a target price of Rs 1,250 and advised traders to place a stop loss at Rs 1,170. The target suggests a potential upside of nearly 4% from the stock's current market price.
VA Tech Wabag Ltd. (CMP: Rs 2,055.00)
Osho Krishan of Angel One has also issued a buy recommendation on VA Tech Wabag, with an entry price of around Rs 2,050. He expects the stock to move towards the Rs 2,120 to Rs 2,140 range. Traders have been advised to maintain a stop loss at Rs 2,000. The higher end of the target range implies a potential gain of around 4.1% from the CMP.
EID-Parry (India) Ltd. (CMP: Rs 811.00)
VLA Ambala, a SEBI-registered research analyst and founder of SMT Stock Market, has recommended buying EID-Parry in the Rs 800 to Rs 810 range. Ambala has set the first target at Rs 900 and the second target at Rs 1,000. The targets indicate potential upside of around 11% and 23%, respectively, from the current market price. The recommended stop loss for the trade is Rs 700.
Sirca Paints India Ltd. (CMP: Rs 448.00)
VLA Ambala has also recommended buying Sirca Paints India in the Rs 425 to Rs 427 range. She has set target prices of Rs 450 and Rs 470, while recommending a stop loss at Rs 390. At the higher target of Rs 470, the potential gain is of around 10%.
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