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Following are the weekly technical picks recommended by Tanmay G Purohit, an independent techno-fundamental analyst:
> Strides Arcolab
Buy around Rs 440-444 for target of Rs 465 with stop loss of below Rs 435.
Rationale: The stock has given a breakout from 1-month range of Rs 437 to Rs 410. Next move can be 5-7% for this stock higher.
> PTC
Buy near Rs 111-112 for target of Rs 120 and stop loss of below Rs 108.
Rationale: The stock is in a good up trend and looks to reach above Rs 120 soon. It trades above important moving averages and above Rs 120 more rallies is possible.
> ABB
Sell around Rs 810-815 for target Rs 775 and stop loss of above Rs 825.
Rationale: The stock has failed to participate in positive trend of market too and now it is slowly breaking down. It looks a sell on rally stock.
> Strides Arcolab
Buy around Rs 440-444 for target of Rs 465 with stop loss of below Rs 435.
Rationale: The stock has given a breakout from 1-month range of Rs 437 to Rs 410. Next move can be 5-7% for this stock higher.
> PTC
Buy near Rs 111-112 for target of Rs 120 and stop loss of below Rs 108.
Rationale: The stock is in a good up trend and looks to reach above Rs 120 soon. It trades above important moving averages and above Rs 120 more rallies is possible.
> ABB
Sell around Rs 810-815 for target Rs 775 and stop loss of above Rs 825.
Rationale: The stock has failed to participate in positive trend of market too and now it is slowly breaking down. It looks a sell on rally stock.
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