Mehul Kothari is bullish on Linde India, Saregama; check why

According to the technical analyst from Anand Rathi, Linde India can rally to Rs 3,875; while Saregama can surge to Rs 425.

BUY

Linde India

Buy Above: Rs 3,575

Target: Rs 3,875

Stop Loss: Rs 3,430

Recently the stock Linde India managed to reclaim its 200 DEMA and has been consolidating. This price action indicates change of trend. The stock is on the verge of a range breakout which might get confirmed above Rs 3,575. A move above Rs 3,575 might result in a strong upside momentum.

Hence, we advise traders to buy the stock above Rs 3,575 with a strict stop of Rs 3,430.

BUY

Saregama

Buy Above: Rs 396

Target: Rs 425

Stop Loss: Rs 380

With regards to Saregama; the stock has a triple bottom formation at Rs 350 mark on the medium term scale. At this juncture; the stock in on the verge of a breakout from falling trend line and that might get confirmed above Rs 396 mark.

Hence, we advise traders to buy the stock above Rs 396 with a strict stop of Rs 380.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).