Top Stock Recommendations: ICICI Securities’ Dharmesh Shah Tips Buying Larsen & Toubro, Axis Bank

Top Stock Recommendations: ICICI Securities’ Dharmesh Shah Tips Buying Larsen & Toubro, Axis Bank

Keywords: Stock recommendations, Larsen & Toubro, Axis Bank, ICICI Securities, Dharmesh Shah

ICICI Securities’ Head of Technical Research, Dharmesh Shah, has recommended buying two stocks for tomorrow’s trading session: Larsen & Toubro (L&T) and Axis Bank.

Larsen & Toubro (L&T)

Shah has a buy call on L&T with a target price of ₹1,950. He believes that the stock is trading in a strong uptrend and is likely to continue its bullish momentum. The stock has formed a bullish pennant pattern on the daily chart, which indicates a breakout and further upward movement.

Axis Bank

For Axis Bank, Shah has a buy recommendation with a target price of ₹950. He notes that the stock has been making higher highs and higher lows, indicating a positive trend. The stock has also broken above the resistance level of ₹890, which further strengthens the bullish outlook.

Technical Analysis

Shah’s technical analysis suggests that both L&T and Axis Bank are poised for further gains. He recommends that investors buy these stocks tomorrow with a stop-loss level below their respective support levels. The potential gains and risk-reward ratios for these recommendations are as follows:

| Stock | Target Price | Stop-Loss Level | Potential Gain | Risk-Reward Ratio |
|—|—|—|—|—|
| L&T | ₹1,950 | ₹1,850 | 5.4% | 1:1.8 |
| Axis Bank | ₹950 | ₹880 | 7.9% | 1:2.2 |

Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors should consult with a qualified financial advisor before making any investment decisions.