Mehul Kothari recommends to buy Laurus Labs, RateGain Travel Technologies

According to the technical analyst from Anand Rathi, Laurus Labs can rally to Rs 400; while RateGain can jump to Rs 330.

BUY

Laurus Labs

Buy Near: Rs 378

Target: Rs 400

Stop Loss: Rs 368

The stock Laurus Labs has been in a corrective mode since long time. On the short term time frame; the stock has entered an oversold zone. At this point in time; it is hovering near the placement of 200 week EMA.

Also we are witnessing positive divergence in daily RSI which makes risk reward very lucrative to go long.

Thus, we advise traders to go long in the stock near Rs 378 with a stop loss of Rs 368.

BUY

RateGain Travel Technologies

Buy Above: Rs 310

Target: Rs 330

Stop Loss: Rs 299

After several attempts the stock has managed to reclaim its long term moving average. At this juncture it is on the verge of a trend line breakout which will get confirmed above Rs 310. We expect sharp upside momentum once the stock sustains above Rs 310 mark.

Thus, we advise traders to go long in the stock above Rs 310 with a stop loss of Rs 299.

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