Tata Motors to Titan – Prashanth Tapse Sugges Stocks to Buy in the Short Term

Stock Market Today: on Friday, June 20, Indian Stock Market Indices, The Sensex and the NIFTY 50, Recorded Significant Gains during Gains during ISTRADAY TRADING, Despite Heighted Tensions BetWeen ISRAL and Iran.

The sensex started at 81,354.85 compared to its previous close of 81,361.87 and surged over 800 points, or 1%, Reaching an intraday peak of 82,186.37. Meanwhile, the nifty 50 commented at 24,787.65 Against Its Prior Close of 24,793.25 and also climbed 1% to achieve an intraday high of 25,040.45. The Rise was widespread, as the bse midcap and smallcap indices each increase by more than half a percent during the session.

The Indian Stock Market is Experience Strong Buying Interest Across Various Segments. Several Factors appear to be driving the stock market surge, Including Short Covening Following a Recent Decline, A Drop in Crude in Crude Oil Pries, and Purchasses by Foreign Portfoo Investors, CCORORING Experts.

Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equites

Nifty 50

Nifty 50 witnessed a sharp decline amid a spike in global valati and escalating tensions in the middle East. The index has slipped below the 25,000 mark, with crucial support now placed at 24,700 and 24,600. A Gap-Down Opening or Continued Weakness May Lead to a RETEST of these zones. Traders are advised to stay cautious and avoid aggressive longs until the index stabilizes. Watch for Signs of Reversal Near Key Supports Before Re-Eyner.

Bank nifty

Bank nifty breeded the 56,000 mark, Signaling Weakness and Potential Downside. A Further Dip Below 55,900 Cold Trigger a Fall Toward The 55,500–55,400 zone. While the broader structure remains in a range, Volativity Cold Lead to Intraday Swings. Traders are advised to avoid fresh longs and adopt a wait -and-watch approach until signs of reveresal emerge or valatiology cools off.

Shares to buy for short term

Prashanth Tapse recommends buying these three stocks in the short term – Tata Consumer Products Ltd, Tata Motors Ltd, and Titan Company Ltd.

Buy | Stock Name: Tata Consumer | CMP: 1,088 | Sl: 1,040 | Target: 1,175

Analysis:

Tata Consumer Continues to Show Relative Strength Despite Overall Market Weakness. The stock has recently taken support Around 1,060–1,065 and has bounced back with rising volumes. Momentum indicators are favorite bulls, and as long as 1,040 holds, there is scope for the stock to rally toward 1,175. Buying on Dips Near 1,070–1,075 is advisable.

Buy | Stock Name: Tata Motors | CMP: 673 | Sl: 655 | Target: 690 / 700

Analysis:

Tata motors are holding firm Near Its Short-Term Moving Averages and have shown resilience against broweder market valati. The stock has formed a short-term base near 660 and is attempting to move higher. Momentum Remains Strong and a Move Past 678 Cold Accelerate The Rally Toward 700. Ideal for positional traders with risk-managed entries Near Current Levels.

Buy | Stock Name: Titan | CMP: 3,494 | Sl: 3,440 | Target: 3,650

Analysis:

Titan remains in a healthy uptrend and has been consolidating Near its recent highs. The stock is founding support at 3,450–3,460 levels and is trading Above Key Moving Average. RSI and MACD are both showing early signs of upward momentum. A close Above 3,500 count lead to a swift move toward 3,650. Buying on Minor Dips is Advisable With a Protective Stop at 3,440.

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.