Sun Pharma, Jindal Steel among top stocks to buy, sell; intraday chart suggests Nifty may fall up to 14,130
时间:2024-06-26 17:12:41 阅读(143)
By Shrikant Chouhan
The market registered an extremely volatile session, the Nifty/ Sensex closed 63/243 points lower. The Nifty/ Sensex failed to sustain above the 14500/48400 resistance mark and due to consistent selling pressure at higher levels along with tepid global cues the benchmark index corrected sharply. Among sectors, profit booking was seen in IT stocks whereas, Auto, Pharma and selective Media stocks witnessed buying interest.
Jindal Steel and Power Ltd BUY, CMP: Rs 431.55, TARGET: Rs 455, SL: Rs 420
On the daily time frame, after the sharp up move, the stock was into a consolidation phase and finally, it has given a breakout from its Flag chart pattern with incremental volume activity indicating further up move in the coming horizon.
Sun Pharmaceutical Industries LtdBUY, CMP: Rs 645.15, TARGET: Rs 675, SL: Rs 630
The stock is trading into a rising channel pattern making the higher top and higher bottom series on weekly and monthly charts, therefore all major technical trend indicators such as MACD and ADX are strong and intact. Thus upward movement from the current level is very likely to remain in the near term.
Bata IndiaSELL, CMP: Rs 1,297.65, TARGET: Rs 1,230, SL: Rs 1,330
The stock is in a downtrend where the bears are quite strong at the moment as bulls are not able to gain strength, on the monthly scale as well the stock is trading below its rising trend line and short-term moving averages which indicates bearishness in the counter.
RBL Bank SELL, CMP: Rs 174.55, TARGET: Rs 165, SL: Rs 180
Bearish continuation formation is evident in the counter as it is continuously making lower high and lower lows, hence the overall structure of the stock suggest that it is heading to its previous demand zone on the downside
(Shrikant Chouhan is Executive Vice President (Equity Technical Research), Kotak Securities. Views expressed are the author’s own.)
上一篇:Paytm surges to a new 52-week high
下一篇:World welcomes 2023! Sydney’s stunning fireworks to Delhi’s dazzling India Gate – See top pics
猜你喜欢
- Tamilnadu Coke & Power files DRHP for IPO, aims for ferrosilicon Unit and solar power expansion
- Petrol and diesel price July 15- Maharashtra fuel rates cut; Check prices in Delhi, Mumbai, other cities here
- Paytm share price down 72% since listing; will it rebound- JP Morgan, Morgan Stanley optimistic; check calls
- OPEC+ supply cut opens door to battle over Asia’s oil demand
- Strategies and best practices for sustainable construction in India
- Tata group stocks among top retail picks; industry outlook positive, valuations elevated but may hold
- Stocks to Watch- RIL, Dr Reddy’s Labs, UltraTech Cement, IDFC First Bank
- Ladakh’s Connectivity Leap- Rs 1170
- Tata Motors, Lupin, Titan among 139 NSE stocks to hit 52-week highs; 16 touch 52-week lows