Trade Setup for Wednsday
Despite Showing Choppy Movement in the Short Term, The Near-Term uptrend setup of nifty remains positive and a sustainable move Above 25200 Levels COLD Open The Next Appst UPST UPST UPST UPST UNEVEDS 25600 Levels in the near Term. Immediate support is placed at 25000-24900 levels, said nagaraj shetti, Senior Technical Research Analyst at HDFC Securities.
For Bank Nifty Immediately Support is Seen at 55,400, howyver bajaj broking expects the index to mainTain its upward bias.
Global Markets and Outlook
Investors will be closely watching trump’s speech later today and the us inflation report due to wedding and India cpi due to Thursday, for further direction. Looking ahead, we expect markets to continue to consolidate and remain range -bound with a positive bias, said Siddhartha Khemka, Head – Research, Wealth Management, Wealth Management, Motilal Oswal Financial Services Ltd.
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 adani green energy ltd, dr reddy’s laboratories ltd, bharat forge ltd, cesc ltd, cummins India ltd, torrent power ltd m chambal fertilizers & chemicals ltd and Glaxosmithkline Pharmaceuticals Ltd
Sumeet Bagadia’s Stock Picks
- Adani Green Energy Ltd– Bagadia Buy Adanigreen at Around 1060.5 Keeping Stoploss at 1023 for a target price of 1135
Adanigreen is currently trading near 1060, showing a strong recovery with three consocative bulish sessions, which signals a signalsant revered in Momentum. The stock has successfully broken out of its recent lower high, supported by a notable increase in trading volumes that indicates strong buying interesting. If adanigreen maintains its position about the 1150 Level, it is Well-Positioned for Further Upward Movement, with a Potential Target of 1135.
2. Dr Reddy’s Laboratories Ltd– Bagadia recommends buying dr reddy’s laboratories at Around 1348.80 Keeping Stoploss at 1300 for a target price of 1443
Drreddy is currently trading at the levels of 1348.8, exhibiting a strong bullish trend on the daily chart, having recently complete completes a breakout from an ascending channel pattern This breakout is supported by rising volumes and consistent upward price action over recent sessions. The stock has gained significant momentum, rallying to a recent high of 1362.6.
Ganesh Dongre’s Stocks to Buy Today
3. Bharat forge Ltd – Dongre recommends buying bharatforg at Around 1340 Keeping Stoploss at 1310 for a target price of 1380
Stock has exhibited a strong notable control The stock is currently priced at 1340 and mainTaining a strong support at 1310. The technical setup indicates the potential for a price retracement towards the 1380 Level. With the stock reveresing from a support base and showing signs of renewed strength, entering at the current market price with a stop-level 1310 offers a prudent approach to capturing the anticipated upside.
4. CESC Ltd – Dongre recommends buying CESC at Around 171 Keeping Stoploss at 164 for a target price of 183
Stock has exhibited a strong notable control The stock is currently priced at 171 and mainTaining a strong support at 164. The technical setup indicates the potential for a price retracement towards the 183 Level. With the stock reveresing from a support base and showing signs of renewed strength, entering at the current market price with a stop-level 164 offers a prudent approach to capturing the anticipated upside.
5. Cummins India Ltd– Dongre recommends buying cumminsind @ 3388 sl 3440 tgt 3500in the latest short-term technical analysis, stock has shown a strong and consistent bulish trend, indicating the potential for an extended upward Move. The stock is currently trading at 3388 and holding above a key support level at 3440. This support zone services as a critical point for Risk Management. Given the Bulish Momentum, Traders are advised to consider a buying options with a stop-loss placed strategically at 3440 to manage downside risk. The target for this trade is set at 3500, suggesting a favorite Risk-to-Reward Ratio and a Continuation of the Prevailing Upward Trend.
Shiju koothupalakkal’s intraday stocks for today
6. Torrent Power Ltd– Koothupalakkal recommends buying torrent power at Around 1451 for a target price at 1520 Keeping Stop Loss at Rs1425
The stock after a short period of consolidation has indicated a bullish candle formation on the Daily Chart Just Moving Past The Important 50ma Level at 1441 with Decent Volume Participation involved to improve the bias and can anticipate for further risk in the coming sessions. The rsi has been flat for quite a white and has indicated a positive trend reveresal to indicate strength and can carry on with the positive move further ahead. With the chart technically well positioned.
7. Chambal Fertilisers & Chemicals Ltd– Koothupalakkal recommends buying chambal fert at Around 565 for a target price of 590 Keeping Stop Loss at 553
The stock after witnessing a significant correction has indicated a strong bully 540 zone and have improved the bias to expect for further gains in the coming sessions. The rsi has triggered the buy signal from the highly oversold zone and looks very much attractive with much upside potential visible and can carry on with the positive move furthere ahead. With the chart technically looking good, we sugges boying the stock for an upside target of 590 keeping the stop loss of 553 Level.
8. Glaxosmithkline pharmaceuticals ltd– koothupalakkal recommends buying flaxosmithkline pharmaceuticals or glasso at Around 3398 for a target price of 3520 Keeping Stop Loss at 3340
The stock after witnessing the short period of correction from 3500 level, it has indicated a strong recovery in the final hours with Volume Participation Visible and has improved the bias in the bias in the hour chart to anticipate for furter risk in the coming session. The rsi in the hourf -frame is well placed and has indicated a buy signal to expect for another found of fresh momentum to Gain Further. With the chart looking good, we sugges boying the stock for an upside target of 3520 level keeping the stop loss of 3340 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.