Stock Recommendation by CapitalVia: Buy Dabur, HUL

We can see a big momentum in following stocks:

BUY Dabur (Above Rs 505):

Target: Rs 535

Stop loss: Rs 485

The stock is witnessing bullish flag pattern in daily charts. Further buying momentum would be witnessed if stock moves above its resistance 505. Breakout from 505 would lead stock to witness more upward movement. Considering the technical evidence discussed above, we recommend buying the stock above 505 for the target of Rs 505, keeping a stop loss at Rs 485 on closing basis.

BUY Hindustan Unilever (Above Rs 2400):

Target: Rs 2550

Stop loss: Rs 2300

The stock is forming a reversal pattern on daily charts along with bouncing from its important moving average. Breakout from its resistance placed at 2400 would lead stock to witness more upward movement. We recommend buying the stock above 2400 for the target of Rs 2550, keeping a stop loss at Rs 2300 on closing basis.

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Disclaimer: Gaurav Garg is Head of Research at CapitalVia Global Research Limited- Investment Advisor. The analyst does not hold position in any of the stocks mentioned above. Views are his own.

Courtesy : Business Line