The nifty 50 fell about 0.40 per cent to slip below 24,850 during the session. Experts expect the market to remain Volatile Due to Global Factors. The Us Federal Reserve’s Monetary Policy Outcome, Due on June 18, Along with Chairman Jerome Powell’s Commentary on Growth and Inflation trends, is also founds.
Experts sugges that at this juncture, investors should focus on stocks with strong fundamentals and favorite technical indicators.
Stock picks for the short term
Expert: Vishnu Kant Upadhyay, AVP – Research & Advisory, Master Capital Services
HDFC Bank | Previous close: 1,935.40 | Target prises: 1,996 and 2,020 | Stop Loss: 1,870
HDFC Bank has witnessed a breakout from a rectangle consolidation pattern, Signalling a Bullying a Bulish Continuation of its Prevailing Up.
The stock rebounded sharply after a post-breakout retest, reinforcing its strength.
It Continues to Form Higher HIGHS and Higher Lows, and is Trading Above Its 55-Period Exponical Moving Average, Underscoring Sustained Bullyned Bullyish Momentum.
An RSI reading of 51, Along with a Bully a Bulish Divergence on the Macd, Further Supports The Positive Outlook.
The overall technical setup sugges a favorite buy-on-diaps Opportunity for Participants Looking to Capitalise on the Ongoing TREND.
Tata Power Company | Previous close: 399.40 | Target prises: 430 and 440 | Stop Loss: 382
Tata Power has given a breakout from a rounding bottom pattern, Signalling a bullish trend reveresal.
Pris Gained more than 50 per cent during the Major Bearish Leg from 494 to 326 and are now gearing up to approach the 61.8 per cent retracement of this leg.
Post-breakout, the stock retraced mildly and is now consolidating near the 200-day ema, indicating strength and offering a boy-on-diap opptunaity.
The formation of higher highs and higher lows sugges a sustained uptrend. The stock is trading Above Its 21- And 55-Day Emas, While An RSI of 52 and Bulish MacD convergence reinforce the positive Momentum.
Kpit Technologies | Previous close: 1,405.80 | Target prises: 1,545 and 1,585 | Stop Loss: 1,305
Kpit Technologies have delivered a decisive breakout from an inverse head and shoulders pattern, a well-setting bullish bullish reversal formation, signaling a potential trend shift in poet of the bulls.
This breakout is accourted by a notable surge in volumes, indicating strong buying interest and participation. Importantly, the breakout coincides with the 200 ema, which has an earlier actd as a major resistance level.
The stock is now comfortable trading Above Its Key 21- And 55-Day Emas, Affirming Underling Strength. Additional, an RSI reading of 65 and a bulish macd crossover further validate the positive momentum, suggesting continued outperformance ahead.
Expert: Mandar Bhojane, Research Analyst at Choice Broking
Godrej Industries | Previous close: 1,303.20 | Target prises: 1,450 and 1,500 | Stop Loss: 1,235
Godrej Industries has given a Breakout Followed by a retest from an inverted head and shoulders pattern on the daily chart.
This move is supported by a significant risk in trading volume, indicating strong bullish bullish momentum.
“A close Above 1,310 count further confirm the breakout, Paving the way for short-term targets of 1,450 and 1,500. On the downside, immediati support lies at 1,260, Making it a Good Buying Opportunity on Dips. For Risk Management, A Stop-Loss Should Be Placed at 1,235, “said bhojane.
Dhanuka Agritech | Previous close: 1,714.60 | Target price: 1,900 and 1,920 | Stop Loss: 1,630
Dhanuka Agritech is on the Verge of a Breakout from its recent Daily Range, Backed by Rising Trading Volumes – a positive sign for a bully.
“A decisive close Above 1,720 may lead to upside targets of 1,900 and 1,920. Immediati support is seen near 1,670, offering a favorite entry on Dips. To limit downside risk, a stop-loss is advised at 1,630, “said bhojane.
Kpit Technologies | Previous close: 1,405.80 | Target prises: 1,550 and 1,600 | Stop Loss: 1,320
Kpit technologies are showing signs of an inverted head and shoulders breakout on the daily chart. The breakout is accounable by a notable spike in volume, which adds strength to the bullish outlook.
“A sustained close Above 1,410 can potentially push prices towards 1,550 and 1,600 in the Near Term. Immediate support is placed at 1,350, Making Dips Attractive for Fresh Entries. To manage risk, a stop loss at 1,320 is recommended, “Bhojane said.
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Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decisions, As Market Conditions Can Change Rapidly, and Circumstances May Vary.
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