Here's why Mehul Kothari recommends to Buy ABFRL, EaseMyTrip

According to the technical analyst from Anand Rathi, ABFRL can rally to Rs 285, while EaseMyTrip can jump to Rs 60.

BUY

Aditya Birla Fashion Retail (ABFRL)

Buy Near: Rs 255

Target: Rs 285

Stop Loss: RS 240 

First of all; the stock has entered an oversold zone after a corrective move of around three months. The weekly RSI is now at a multiple support zone and historically this has resulted in bullish reversal most of the time.

At this point in time; the risk reward looks good to go long. Thus, we advise traders to go long in the stock near Rs 255 with a stop loss of Rs 240. 

BUY

EASEMYTRIP

Buy Near: Rs 52.50

Target: Rs 60

Stop Loss: Rs 48.50 

The stock is resting at a strong support of 200 DEMA and 200 DSMA. We are witnessing a bullish engulfing candlestick pattern on the daily chart. The support of Rs 50 has been a demand zone for the stock since quite some time.

Thus, we advise traders to go long in the stock near Rs 52.50 with a stop loss of Rs 48.50. 

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