Five stocks to trade today—5 February

Five stocks to trade on 5 February. (Bloomberg)
Five stocks to trade on 5 February. (Bloomberg)

Summary

  • Stock recommendations for 5 February from Raja Venkatraman and MarketSmith India.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman

• SUPRIYA: Buy dips to above 398, stop 390, target 415

The stock has been undergoing a lot of volatility and recent profit-booking has dragged its prices into the Kumo support region and is now spurring a rebound. The robust long body candles indicate some positive traction ahead. With the RSI pulling back to the neutral zone and a revival thereafter, investors could look at some long opportunity and consider going long.

• JINDALPOLY: Buy above 285, stop 269, target 340

This counter has continued to rebound from support in the last few days. The steady rise  is seen inching towards the Kumo cloud, highlighting the continued upward bounce. The  long body candle close on Monday highlights positive sentiment. As the momentum is seen rising above important RSI zones, consider going long. 

• LTF: Buy above 152, stop 148, target 163

Ahead of RBI’s policy meeting, this stock has shown some good traction and is steadily inching higher after the rounding pattern breakout seen on Tuesday. The momentum is seen rising and pushing the prices above the clouds. The trends are clearly encouraging along with the volumes. As positive vibes begin to extend investors can look to initiate longs. 

Stocks recommended by MarketSmith India

Concord Biotech Ltd: Current market price 2,237.25 | Buy range 2,210-2,245 | Profit goal 2,800| Stop loss 2,030| Timeframe 2-3 months

Amber Enterprises India: Current market price 6,918.75 | Buy range 5,750-6,970 | Profit goal 8,500 | Stop loss 6,100 | Timeframe 2-3 months

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About the analysts: Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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