Stocks to buy for short term: from Praj Industries to Route Mobile – Jigar Patel of Anand Rathi Suggessts 3 Stock Picks

Stocks to buy for the short term: A Deeper-That-Expected 50 BPS Rate Cut Drove The Indian Stock Market Benchmark Nifty 50 Above The 25,000 Mark on Friday, June 6. The Index Ended The Week Over a Per CENT HIGER, Snapping Its Two-AITS SNAPPINGTSTES TOOSKER Run.

According to jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, The NIFTY 50 is Approaching A Critical Resistance Zone of 25,100-25,300, aligning with kedy fibbon retracement levels.

Patel believes this zone may trigger profit booking and poses a risk of negative rsi divergence on the daily chart.

“We Remain Cautious and Recommend Profit-Booking Near this zone.

“On the downside, 24,700 services as immediane support, when 24,450 remains the make-or-brek level for bulls. The coming week’s i will determine will be Fizzles out, “Patel said.

Stock picks for the short term

Jigar Patel Recommends Buying Shares of Route Mobile, Praj Industries and ofss for the next two to three weeks.

Route Mobile | Previous close: 1,021.35 | Target price: 1,150 | Stop Loss: 940

In the recent trading session, route mobile broke out after Nearly a month of consolidation, accounable by a significant surge in volume, indicating strong accumulation.

This consolidation phase is particularly notable because it is obcurred within the r3-s3 zone of the monthly Camarilla Pivots, Establishing an inserted-value relationship.

This setup forms when the current month’s Pivots are nested within the Previous Month’s Range, often Signalling a Potential Breakout with Strong Directional Bias.

Adding to the bulish case, the daily rsi has consistently help above the 40 level and is now positioned at 64, reflected strengthening momentum.

“We recommend a boying options in the 1,000–1,030 zone, with a target price of 1,150 and a stop loss of 940 on a daily closing Basis, “said patel.

Praj Industries | Previous close: 505.90 | Target price: 580 | Stop Loss: 465

Praj Industries Has recently complete a bulish dragon pattern, indicating the potential for a strong upward move.

Complementing this setup, the monthly camarilla Pivots are displaying a Higher overlapping value relationship, and price action has decisively closed Above the R3 Level – A Clear of Emerging Bulriptum.

On the Momentum Front, The Daily RSI has broken out after a prolonged consolidation between the 40–50 zone and now stands near 60, reinforcing the positive bias.

“Initiate long positions in the 500–508 zone, with the target price of 580 and a stop loss of 465 on a daily closing Basis, “said patel.

Oracle Financial Services Software (OFSS) | Previous close: 8,786 | Target price: 9,800 | Stop Loss: 8,250

Ofss has recently formed a solid base in the 8,300–8,700 range and is now trading firmly Above The 8,700 mark, suggesting growing strength. What stands out technically is the presence of an inside value relationship between the monthly Camarilla R3 and S3 Pivots – A Structure that often Precedes Sharma.

Adding to the bulish setup, the daily rsi has consistently the handed 50 level, reflecting sustained sustained momentum and the potential for a Continued uptRend.

“Enter long positions in the 8,700–8,800 zone, with the target price of 9,800 and a stop loss of 8,250 on a daily closing Basis, “said patel.

Read all market-Related news here

Read more stories by Nishant kumar

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.