Good buying opportunity in these stocks

Published December 21, 2018

It's celebration mood everywhere. Christmas and New Year is knocking on the door and so does buying opportunity in these stocks.

City Union Bank Limite (CUB.NS) Close: 186.15

The banking stock City Union Bank Limited is in a broad rising trend channel in the medium term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company.

After making a high of 203 rupees, the stock corrected about 20 per cent before reversing and now is above its resistance of 179, which should now technically work as a support. Next level of support is at 167 and resistance is at its previous high at 202 rupees.

Volume balance and momentum indicators are positive and support the price. The stock is overall assessed as technically positive for the medium term.

Investtech's outlook (one to six months): Positive

Pidilite Industries Li (PIDILITIND.NS) Close: 1192.65

Pidilite Industries Limited is in a rising trend channel in all the time frames, short, medium and long terms. This shows that investors over time have bought the stock at higher prices and indicates good development for the company.

The stock has broken up through the resistance at rupee 1180 and is also above its all time high. Further rise in price is indicated. Volume has previously been high at price tops and low at price bottoms. This strengthens the trend. The stock is overall assessed as technically positive for the medium term.

Investtech's outlook (one to six months): Positive

The analyses are based on closing price as per December 20, 2018. Maintaining proper stop loss is always recommended.