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These 3 stocks are must-haves in your portfolio, suggests Religare Broking
Markets edged higher, gaining over half a percent, and continued their consolidation phase. Following positive global cues, the Nifty opened with an uptick and moved in a range during the first half. However, buying interest in select heavyweights during the latter half helped the index reclaim the 24,600 mark, eventually closing at 24,619. Most sectors moved in line with the benchmark, with pharma, metal, and auto emerging as the top gainers. Broader indices also mirrored the benchmark trend, each advancing over half a percent.
The past five sessions have been a roller-coaster ride for market participants, but we are witnessing noticeable strength in select pockets across sectors. We maintain our view that sustained trade above 24,600 on the Nifty could pave the way for further recovery, with the immediate hurdle at 24,800 and the next at 25,000. Traders are advised to align their positions accordingly, giving preference to index majors and large midcap counters for long trades.
Stocks Recommendations
Indian Bank | LTP: ₹670.70 | Buy | Target: ₹715 | Stop-loss: ₹647
After an extended consolidation within a rectangle pattern, the stock broke out above the upper resistance band, signaling the start of a fresh uptrend. Post-breakout, it entered a time-wise correction, forming a fresh base just above the neckline. This base-on-base formation reflects healthy consolidation and resilience despite broader market weakness. The emergence of a buying pivot, along with sustained closes above the 20-week EMA, reinforces the likelihood of the resumption of the uptrend soon.
The Indian Hotels Company Ltd. | LTP: ₹769.80 | Buy | Target: ₹820 | Stop-loss: ₹743
The stock has been trading in a corrective phase, forming a symmetrical triangle pattern, after the phenomenal rally during the 2021-2024 phase. Recently, it rebounded sharply from the lower range after building a base there. This rebound, coupled with a reclaim of key moving averages, suggests potential for an advance towards the upper trendline first and then potentially a breakout as well. Participants can consider long positions as per the mentioned levels.
Mahindra & Mahindra Ltd. | LTP: ₹3,282.20 | Buy | Target: ₹3,490 | Stop-loss: ₹3,165
The auto sector continues to show strong momentum, and M&M stands out as one of the top performers, holding firm near its record high. The stock remains in a well-defined uptrend and is currently consolidating in a tight range above its 20-week EMA—signaling strength and potential trend continuation. The rising trendline from recent lows is intact, further supporting the bullish structure. Overall, the setup favors the next leg of the rally.
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Economic Times
16 minutes ago
- Economic Times
Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 3. US markets 4. Corporate Action Tired of too many ads? Remove Ads 5. IPO watch 6. FII / DII Action 7. Technical Factors 8. Rupee Vs Dollar 9. Crude Oil Indian benchmark indices finally ended their six-week losing spree to end 1% higher every week. A host of important domestic and global events scheduled for the week are likely to impact stock markets when they resume trading on Thursday, Nifty closed 11.95 points or 0.05% higher to end the day at 24,631.30. The markets were closed on Friday on account of Independence on the current trends Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking said that markets staged a strong rebound as the Nifty index ended its six-week losing streak and formed a bullish candle on the weekly chart. The index reclaimed its 100-DMA at 24,560, which will now serve as an immediate support, he said."Over the past month, the Nifty has struggled to cross its short-term 21-DMA at 24,770. A decisive move above this level is crucial to unlock further upside towards 25,000. The RSI has turned higher to 44, indicating improving momentum, while the MACD remains below the zero line. Although sentiment has improved, a clear confirmation of a trend reversal is still awaited."Factors that are likely to impact movement when markets reopen this week:The understanding reached between US President Donald Trump and Russian President Vladimir Putin on the Ukraine issue on Friday is expected to lift market sentiment when trading resumes on Monday. Although the two leaders stopped short of striking a deal to end the war, Putin said they had arrived at an 'understanding.' Their nearly three-hour meeting in Alaska did not produce a ceasefire, but Trump described it as a 'very good meeting,' while cautioning that 'there's no deal until there is a more – Explained: How Nifty, Sensex may react to Trump-Putin talks and Modi's GST tax reform on Monday? Prime Minister Narendra Modi's Independence Day announcement of major Goods and Services Tax (GST) reforms this Diwali could boost investor sentiment, opine experts. Speaking from the Red Fort on Independence Day, Modi on Friday announced rate cuts to be rolled out by Diwali in the GST 2.0. The PM said GST rates will be lowered on everyday-use goods as part of reforms to the eight-year-old tax action on Wall Street will give cues to the global markets including India. Wall Street's two major indices finished with declines while the Dow managed to remain afloat in the green. A mixed US economic data led to the souring in sentiments. While the US retail sales climbed 0.5% in July from June, the Federal Reserve's index for industrial production edged downThe Dow 30 ended the session at 44,946.10, gaining 34.86 points or 0.08% while S&P 500 settled at 6,449.80, down by 18.74 points or 0.29%. 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The Print
2 hours ago
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Mahindra is gearing up for future buyers. Unveils limited edition ‘Bat' BE6, 4 new concepts
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Mahindra has become synonymous with machismo, something that could eventually come back to bite the carmaker. Perhaps that is what the company means by 'New IQ'—it's catering to the needs of the next generation of buyers. Kushan Mitra is an automotive journalist based in New Delhi. He tweets @kushanmitra. Views are personal. (Edited by Prasanna Bachchhav)
Time of India
13 hours ago
- Time of India
Mahindra looks to acquire 350-acre land parcel in Igatpuri
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