Market Trading Guide: Divi’s Lab, Torrent Pharma are 7 stock recommendations for Monday – Stock Recommendations

Target Price: Rs 5,200/5,300

Stop Loss: Rs 4,400

GARFIBRES is currently trading at Rs 4,653.2 and has recently broken out of an ascending triangle pattern on the daily chart. The price is consolidating above the breakout level, indicating the potential for another breakout. This breakout, accompanied by a significant surge in trading volume, suggests strong bullish momentum.

A decisive close above Rs 4,750 could open the door for short-term targets of Rs 5,200 and Rs 5,300. On the downside, immediate support is seen at Rs 4,500, offering a favorable buying opportunity on dips. To manage risk effectively, a stop-loss at Rs 4,400 is recommended to guard against potential market reversals.

(Mandar Bhojane, Equity Research Analyst, Choice Broking)