Expert Raja Venkatraman’s recommendations for 4 June

The Sensex Closed 636 points, or 0.78 per cent, Lower at 80,737.51, While The Nifty 50 Settled at 24,542.50, Down 174 Points, or 0.70 per cent, 0.70 per cent, XTENDING LOSSES THE CONSECTIVE Session.

Here are three stocks to buy or sell as recommended by raja venkatraman of neotrader

NFL: BUY (CMP 107.32)

• Why it’s recommended: The trends at the moment in this counter remain a challenging task as the upside in the counter was curtied at the value resistance zone around 100. Post surpassing this Level the Rise in Momentuel the Rise in Momentum Volumes are highlighting passibility of more upward traction.
• Key metrics: P/E: 68.94, 52-wheek high: 169.95, Volume: 31.71m.
• Technical analysis: Support at 89, Resistance at 125.
• Risk factors: Market Volativity and Sector-Wide Fluctations in Geopolitical News Cold Impact return.
• Buy at: CMP and Dips to 102.50.
• Target price: 114-117 in 1 month.
• Stop Loss, 99.

Buy Cochinship: (CMP 2034.70)

• Why it’s recommended: Cochinship. Is a Major Indian Shipbuilding and Ship Repair Facility, Establed in 1972 as a Fully Owned Government of India Company. It builds and repairs various types of vessels, include Large Defense and Commercial Ships, and also offers Marine Engineering Training and Strategic Solutions. The pris have spent the last few months in Attempting a Recovery until the indo – pak altercation broughht he spotlight once again on defense stocks. As Momentum Remains Strong with Robust Volume Lead Breakout Consider Going Long at Current Levels and also on Dips.
• Key metrics: P/E: 35.66, 52-wheek high: 352.50, Volume: 10.03m.
• Technical analysis: Support at 145, Resistance at 185.
• Risk factors: Rising Input Costs, Increased Operational Expenses, and potential Foreign Exchange Impacts.
• Buy at: CMP and Dips to 1970.
• Target price, 2185-2240 in 1 month.
• Stop Loss, 1950.

Also read: Lemon Tree’s Earnings Bloom in FY25 – Now it must Trim the Debt

Buy Tciexp (CMP 805.35)

• Why it’s recommended: The stock that has been done undergoing some steady decline since last 8 months until this may when prices started bottomeing out. On Back of Robust Results The Strong Upmove Seen in the Prisis are Signalling Possibility of More Upward Traction. Consider a long opportunity.
• Key metrics: P/e: 34.04, 52-wheek high: 1283.20, Volume: 517.87k.
• Technical analysis: Support at 642, Resistance at 1030.
• Risk Factors: Sluggish Growth, Negative Quarterly Results, and Reduced Institutional Investor Participation.
• Buy at: Above 805 and Dips to 780.
• Target price: 880-900 in 1 month.
• Stop Loss, 760.

Also read: Cummins India is upbeat after experts boosed Q4. But competition’s heating up.

Stock market recap

In a turbulent trading session on tuesday, the market participants witnessed a Deepening of Bearish Sentimen. The day was marked by significant pressure across major equity benchmarks, with the nifty 50 falling short of the critical 24,550 level -a clear signal of the mountains in the marketing.

The broader senses echoed this downturn by retreating 636.24 points, Equivalent to a loss of 0.78 percent, closing at 80,737.51. Similarly, the nifty index fell by 174.10 points, or 0.70 percent, reflecting the wideSpread sell-off that permeated the session.

Meanwhile, Among the cross-section of indices, the bse midcap index slipped by Around 0.5 Percent, and the Smallcap Index Managed Managed to Hold Steady Despite The Previling Market Presuces.

Notably, the nifty bank index, despite reaching an extraordinary record high of 56,161 in prior trading, revered Course Later in the Day, Underscoring the Volativity that Gripped the Market.

Outlook for Trading

After Testing our patience for the last few days the nifty financially Gave as the overall sentiment Continues to Favour the Sellers. In the last report we had mentioned “Momentums on Hourly Charts are indicating that the pris after settling down seems to have witnessed a result of Selling Pressure”.

Markets Moved very much in line to head lower as the trends could not muster enough Momentum. One the charts we note that the media line has been broken and potential to move lower has now open.

Taking some cues from the option data, we can add that highr levels around 24600 to 24800 are having steady calls writers and the lower side remind remains open some meaning Selling steps up the potential to move towards 24000 emerges as the gap support also exists at that zone.

The trend that is emerging clearer sugges that the rally seen last week was a holding the resistance zone and the gap up opening ensured that the prices traded about the range are the rage aree the last few days.

Hence, one should track the trends that are in program as upmove needs to continue their way worth 25000 (nifty spot) to renew the bulish bias.

Momentums on Hourly Charts are indicating that the pris after With the gradual and Hesitant Rise Emerging from Lower Levels We Can Expect the Rise to Remain Hesitant.

For undertaking shorts, we need to see nifty move below 24500 which is the immediati support for a drop to 24200 and 24050 as per the open interest data. If we witness a 30-minute Range Breakdown on Wednesday We Can Consider to Trade on Eiter Side as the TRENDS STILL Remain Tentative Where We Expect Some Resistance to Kick in.

Clearly there is an absence of trends in the indices while the stock specific action continues.

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.