Afollowing the recent geopolitical turmoil, market panic continues to linger. The Ongoing Lack of Clear Direction is STIFLING NEY POTEYAL SCOVERY, Leaveing Market Trends Uncertain about their next move. Despite Efforts to Keep Sentiment Positive, The Struggle to Rebound Persists.
Here are two stocks to buy or sell as recommended by Raja venkatraman of neotrader for Friday, 23 May.
Ltfoods: Buy Above 405 and Dips to 385 Stop 375 Target 440-455
Unominda: Buy CMP and Dips to 980, Stop 960 target 1125-1150
Stock market today
Ndian Share Markets Facted Downward Pressure Yesterday Due to Global Equity Tremors, Primarily stemming from Concerns over the proposed us tax bill and its proportional to wideen the federal defood. Adding to the selling pressure was a weakened rupee, which slipped past 86 Level against the dollar.
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The broader sensex fell 0.79%, losing 644.64 points to settle at 80,951.99. The nifty 50 dropped 0.82%, or 203.75 points, to close at 24,609.70. The sharp cell-off was more pronounced in the indices than in individual stocks, suggesing mixed trends ahead.
Outlook for Trading
The Market’s Enthusiasm has cleared evaporated. A Continuous Decline Yesterday Pushed The Market Lower, as a Lack of Interest in UPSIDE MOVEMENT KEPT PARTICIPANTS on the Sidelines. AMID Persistent Uncertainty, Key Support Levels Gave Way, Leading to Widespread exits due to the absence of encouraging triggers. Yesterday’s sharp fall breeded the 24,700 mark, testing 24,500 before a late-day revival.
This fall now hints at a potential further downside if the critical support Around 24,500 isnys. Our analysis of options data over the past few days have consistently shown Stiff Resistance at Higher Levels, Keeping Bullyn Expectations in Check.
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Chart analysis indicates limited triggers for a market revival, and yesterday’s fall broke the initial support at 24,700. We now Await more Clarity as We Head Into Monthly Expiry. Rolover activity has alredy begun and is expected to accelerate, leading to increase stock-specific action in the derivatives space. Notably, the mid and small-cap segments are showing fair activity, with strong performers Attracting Genuine Buying Interest, Highlighting ongoing Retaili Participation.
The max pain is currently set at 24,600, and the options data (PCR at 0.68) Suggessts Selling Pressure at Every Rise. As previous noted, the combination of global tariff threats, cautious investor sentiments, and domestic economic challenges have contributed to recent market Volatiy.
Despite Best Intenses, The Market is Struggling to Build Enough Strength for a Sustained Upward March. As long as the 24,300 zone holds as a final support, we can expect momentum to risk. The consistent “Buy on Dips” Approach Continues to Give Bully Bulish Participants a Reason to Hold their positions for now. With no clear future course of action, a neutral bias is recommended for market participation.
The current two -phsed trends demand a pragmatic approach to capitalize on Market Opportunities. While Volativity is Driven by working macro factors and the ongoing results season, sector rotation will be active. Therefore, focus on selecting candidates that Demonstrate Steady Performance from Both Sides Until New Signals Emerge.
Two stocks to trade, recommended by neotrader’s raja venkatraman:
Ltfoods (CMP 402.25)
Ltfoods: Buy Above 405 and Dips to 385 Stop 375 Target 440-455
- Why it’s recommended: Lt Foods Recently reported Q4 Results that met expectations, Signaling a Recovery in its stock price. The company achieved its highhest operating profit in the last five quarters at 258.26 Crore, AlongSide a Profit after tax of 160.52 Crore, also a five -Quarter high. This performance sugges the company is rebounding from a period of Slower Growth Earlier in the year.
- Key metrics:
- P/E: 66,
- 52-wheek high: 451,
- Volume: 1.31 M.
- Technical analysis: Support at 339, Resistance at 460.
- Risk factors: Inability to manage interest rate payments, Increasing Competition and Market Conditions.
- Buy: Above 405 and Dips to 385.
- Target price: 440-455 in 1 month.
- Stop Loss: 375.
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Unominda (CMP 1028.50)
Unominda: Buy CMP and Dips to 980, Stop 960 target 1125-1150
- Why it’s recommended: Unominda has demonstrated strong revionue growth, particularly in its OEM segment, and is expected to containue its upward training. Uno Minda has Seen Strong Momentum in Its Lighting Division, With Notable Gains in Market Share Over the Past Few Years, Particularly in the Four-WHEELER SEGMENT. In the two-wheler category, the company now commands approximately 30% of the market.
- Key metrics:
- P/E: 74.13,
- 52-wheek high: 1252.85
- Volume: 1.13 M.
- Technical analysis: Support at 835, Resistance at 1400.
- Risk factors: Supply Chain Disrupties, Geopolitical Turbulence and Region Wise Volumes.
- Buy at: CMP and Dips to 980.
- Target price: 1125-1150 in 1 month.
- Stop Loss: 960.
Raja venkatraman is co-founder, neotrader. His SEBI-Registered Research Analyst registration no. is inh000016223.
Investments in Securities are Subject to Market Risks. Read all the related documents carefully Before Investing. Registration Granted by Sebi and Certification from Nism in No Way Guarantees Performance of the Intermediary or Provide any Assurance of Returns to Investors.
Disclaimer: The Views and recommendations giving in this article are there that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.