Trade Setup for Wednsday
The nifty has been founding it direct to cross 25116 resistance and continuing its choppy trend. On the downside, 24700 and 24462 un offer support in the nifty. A Decisive Level Above 25116 would brings back the bulish momentum in the nifty, said nandish shah, Senior Derivative & Technical Research Analyst, HDFC Securities.
Bank Nifty is Facing Resistance Near 56,000 – 56,100 Levels While Support is Placed Near 54,776 as per hrishikesh yedve, AVP Technical and DERIVATIS RESERCH RESERCH ASIT C. Interromedates Ltd.
Global Markets and Q4 Results
Investors are Now Eyeing Key Global Events, Including The Release of the Minutes from the latest fomc meeting, which could provide cues on the fed’s policy Outlook Amid Persistent Inflation and Fiscal Stresses. Markets are likely to remain valatil in the near term, with a watchful eye on global developments, trade negotiations, and remaiing corporate earnings, said Siddhartha Khemka, Hed – Reserach, WHESEARACH – Research 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 TWO Stock picks.
These include Shankara Building Products Ltd, Hitachi Energy India Ltd, Chambal Fertilisers & Chemicals Ltd, Bharat Electronics Ltd, ICICI BANK LTD, ICICI BANK LTD, HFCL LTD and WLSPUN Corp Ltd
Sumeet Bagadia’s Stock Picks
1.Shankara Building Products Ltd- Bagadia recommends buying Shankara Building Products or Shankara at Around 821.3 Keeping Stoploss at 790 for a target price of 877.
Shankara is currently trading at 821.3, MainTaining a Strong Upward Trajectory. The stock has consistently formed Higher HIGHS and Higher Lows, Reflecting Sustained Bulish Momentum. It recently reacted a 52-wheek high of 828.9, with a key resistance level Around 835. The exponitive moving average (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook.
2. Hitachi Energy India Ltd– Bagadia recommends buying Hitachi Energy India or Powerindia at Around 17220 Keeping Stoploss at 16600 for a target price of 18400
Powerindia is currently trading at 17220. The rally was backed by strong volumes and a sharp bullish candle. The breakout Above the Previous Swing High Near 16,600 is particularly significant, as it had acted as a supply zone earlier. With this resistance now turned into support, the stock has room to test higher levels. The stock is now trading firmly Above all key exponational moving average. The price action shows a clear breakout strengthened by a series of higher highs and higher lows on the daily chart – a classic sign of a strong up.
Ganesh Dongre’s Stocks to Buy Today
3. Chambal Fertilisers & Chemicals Ltd – Dongre recommends buying chambal fertilizers & chemicals or chamblfert at Around 594 Keeping Stoploss at 580 for a target price of 620
In the latest short-term Technical Analysis, Stock has shown a strong and consistent bully bullish trend, indicating the potential for an extended upward move. The stock is currently trading at 594 and Holding Above A Key Support Level at 580. 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 580 to manage downside risk. The target for this trade is set at 620, suggesting a favorite Risk-to-Reward Ratio and a Continuation of the Prevailing Upward Trend.
4. Bharat Electronics Ltd– Dongre recommends buying bharat electronics ltd or belt Around 386 Keeping Stoploss at 375 for a target price of 405
Stock has exhibited a strong notable control The stock is currently priced at 386 and mainTaining a strong support at 375. The technical setup indicates the potential for a price retracement towards the 405 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 375 offers a prudent approach to capturing the anticipated upside.
5. Icici bank Ltd– Dongre recommends buying icicibank at Around 1445 Keeping Stoploss at 1420 for a target price of 1470.
Stock is currently trading at 1445 and appears to be in bullish zone for short term. A Bullys Reversal pattern has emerged on the daily chart, indicating a potential up move. The critical support level lies at 1420, which also acts as a key stop-loss point for this trade. With bulish cues signaling a possible retracement towards the 1470 target, this setup provides a favorite entry options for traders looking to capitalize on a technical rebound.
Shiju koothupalakkal’s intraday stocks for today
6. HFCL Ltd – koothupalakkal recommends buying hfcl at Around 87.30 for a target price of 93 Keeping Stop Loss at 85
The stock has indicated a higher bottom formation pattern on the daily chart taking support near 80 zone and has witnessed a Decent Pullback to Move Past The Important 50ma Level at 85 zone to improve the bias and anticipate for further risk in the coming sessions. The rsi is Well positioned and has indicated a positive trend reveresal to signal a boy and has much upset potential to carry on with the positive move further ahead. With the chart technically looking good, we sugges to buy the stock for an upside target of 93 keeping the stop loss of 85 Level.
7. Welspun Corp Ltd– Koothupalakkal recommends buying Welspun corp or welcorp at Around 783 for a target price of 820 Keeping Stop Loss at Rs 767
The stock has been in consolidation for quite some time maintaining Above The Important 200 Period Ma At 752 zone and currently with a pullback to just move Above The 50ma Level at 778 has improved the bias to signify strength and has potential to carry on with the positive move further ahead in the coming sessions. With the rsi well placed and signalling a buy, one can expect the stock to rain forthher and with the chart technically looking good, we sugges boying the stock for an upside target of 820 level keeping the stop loss of 767 Level.
Disclaimer: The views and recommendations made Above are that of individual analysts or broking companies, and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
Discover more from
Subscribe to get the latest posts sent to your email.
Be First to Comment