Trade Setup for Monday
For the benchmark nifty 50 index, 24600 and 24450 would be the key support zones for the short term, when 25000 would be the immediative resistance zone for the bulls. A Successful Breakout Above 25000 Cold Push the Market Up to 25150-25500. On the other side, beLow 24450, The Sentiment Cold Change, said amol athawale, VP-Technical Research, Kotak Securities:
For bank nifty, a higher bottom support is placed at 54575, as long as it is trading about the same
Global Markets and Q4 Results
In the week ahead, market participants will first react to the RBI’s Record Dividend Transfer of 2.7 Lakh Crore to the government and its implications for fiscal policy. Additional, the release of India’s industry and manufacturing production data for april, scheduled for may 28, Along with the Q1 GDP Growth Figures, Will Offer Insights ICONOMIC SOCONOMIC OCONIMIC Updates on the program of the monsoon will also be closely monitored.
On the Global Front, Developments in the Us Bond Market, The release of Fomc Minutes, and Progress in the India-Hus Trade Negotiations will continue to influence market sentence, SAID Ajit Mishra-SVP, Religare Broking Ltd
Moreover, The Final Leg of the Q4 Earnings Season – With Results from Key Companies Like Bajaj Auto, Aurobindo Pharma, and IRCTC –Will remain in Focus.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, Sugged Three Stocks, While Shiju Koothupalakkal, Senior Manager – Technical Research, Technical Research, At Prabhudas Lilladher has given throughr Stock picks.
These include Bharat Heavy Electricals Ltd or BHEL, Nestle India Ltd, SBI Life Insurance Company Ltd, Axis Bank, DLF LTD, PARAS Defense and Spaice Technologies Ltd, Tourism Finanx Corporation of India Ltd and Niit Ltd
Sumeet Bagadia’s Stock Picks
1.Bharat Heavy Electricals Ltd– Bagadia recommends buying bharat heavy electricals or bHEL at Around 254.80, Keeping Stop Loss at 245 for a target price of 273
BHEL is Currently Trading Near 254.80, Demonstruating a Sharp Recovery from Recent Lows and Signaling a Strong Reversal in Momentum. The stock is on the verge of breaking its recent lower high structure, supported by a notable surge in trading volumes – Indicating Robust Buying Interest and Market Participation.
2. Nestle India Ltd – Bagadia recommends buying nestle India or nestleind at Around 2414 Keeping Stoploss at 2329 for a target price of 2583
Nestleind is currently trading at 2414, having rebounded from a key support level at 2295. The stock has been formed a bulish candlestick pattern on the daily timeframe and is poised to break out of its consolidation range between 2245 and 2425. A Decisive Breakout Above This range would further validate the Ongoing Reversal Trend, Supported by a Noticeable Sury in Trading Volumes – Districting Strong Buying Interest.
Ganesh Dongre’s Stocks to Buy Today
3. SBI Life Insurance Company Ltd- Ar Positional Buy Sbilife @ 1798 Sl 1770 TGT 1860
In the recent short-term trend analysis of the stock, a notable bulish reveresal pattern has emerged. This Technical Pattern Suggessts The Possibility of a Temporary retracement in the stock’s price, potentially Reaching Around Rs. 1860. At present, the stock is maintaining a Crucial Support Level at Rs.1770. Given the current market price of Rs.1798, a buying options is emerging. This sugges that investors might consider the stock at its current price, anticipating a risk towards the identified target of Rs. 1860.
4. Axis Bank Ltd– Dongre recommends buying axis bank or axisbank at Around 1210 Keeping Stoploss at 1175 for a target price of 1250
We have seen a major support in this stock Around Rs. 1175 So, At the Current Juncture, The Stock Has Again Seen A Reversal Price Action Formation at the Rs.1210 price level, which may continue its rally till its nextance level of RS.1250 SO Traders can buy and hold this stock with a stop loss of Rs.1175 for the target price of Rs.1250 in the upcoming weeks.
5. DLF Ltd– Dongre recommends buying DLF at Around 775 Keeping Stoploss at 745 for a target price of 795
In the recent short-term trend analysis of the stock, a notable bulish reveresal pattern has emerged. This technical pattern sugges that there could be a temporary retracement in the stock’s price, Possibly to Around Rs. 795 Currently, The Stock is Holding a Crucial Support Level at 745.
Given this Scenario, there is potential for the stock to rebound towards the 795 Level in the Near Future. Traders are advised to consider Taking a long position, with a strategic stop loss set at Rs.745 to manage risk effectively. The target price for this trade is 795, reflecting the anticipated upward movement based on the identified technical
Shiju koothupalakkal’s intraday stocks for today
6. Paras defense and space technologies ltd= Koothupalakkal recommends buying paras defense or 1636 with target price of 1730 Keeping Stop Loss at 1600
The stock has recently witnessed a steep rain with strong Trend MainTailed and after a short period of correction has once again indicated a turn Around with bias improving 1550 zone and expecting for another round of fresh upward move in1. The coming sessions. The rsi has cooled off from the highly overbough zone and is currently well placed having further potential to carry on with the positive move forthher ahead.
7. Tourism Finance Corporation of India Ltd– Koothupalakkal recommends buying tourism Finance Corporation or Tourism Finance at Around 209 for a target price of 220 Keeping Stop Loss at 204
The stock has been in consolidation for quite some time with bias mained into and during the last hours of the intraday session, has indications of indications of improving bias with huge Volume Volume Participation Volume to anticipation to anticipation to anticipation for Further Rise in the Coming Sessions. With the rsi corrected from the highly overbough zone, is currently well positioned and with strength indicated can carry on with the positive move further ahead. With the chart technically looking good, we sugges boying the stock for an upside target of 220 level keeping the stop loss of 204 Level.
8. Niit Ltd– koothupalakkal recommends buying niit ltd at around 137.20 for a target price of 146 Keeping Stop Loss at 135
The stock has witnessed a devant revival from the low made near 103 zone and recently, mainTaining above the important 50ma level at 133 has shown signs of improvement in the bias with a positive candle formation on the daily chart and can expect for further upward movie in the coming days. The rsi is picking up with a gradual risk and can carry on with the positive move with much UPSIDE POTENCAL Visible. With the chart technically well positioned, we sugges boying the stock for an upside target of 146 level keeping the stop loss of 135 Level.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions,
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