Latest news with #AmolAthawale
Mint
2 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market on June 9 ahead of US-China trade talks
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking upbeat cues from global markets, amid optimism over US-China trade talks. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,175 level, a premium of nearly 80 points from the Nifty futures' previous close. On Friday, the domestic equity market ended higher, with the benchmark Nifty 50 closing above the 25,000 level, after the Reserve Bank of India (RBI) cut repo rate by 50 basis points (bps) to 5.50% and also reduced the Cash Reserve Bank (CRR) by 100 bps to 3%. The Sensex surged 746.95 points, or 0.92%, to close at 82,188.99, while the Nifty 50 settled 252.15 points, or 1.02%, at 25,003.05. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a double bottom reversal pattern on daily charts and is currently trading comfortably above the 20-day SMA (Simple Moving Average), which is largely positive. In addition, a long bullish candle has formed on weekly charts, supporting the possibility of further uptrend from the current levels. 'We believe that the 20-day SMA, around 81,600, will act as a trend-decider level. As long as Sensex remains above this level, the bullish formation is likely to continue, with 82,600 serving as the immediate resistance zone for short-term traders. A successful breakout above 82,600 could push the market up to 83,500 - 83,900,' said Amol Athawale, VP-technical Research, Kotak Securities. Conversely, if Sensex falls below 81,600, sentiment could change, and the index may retest the 80,600 level. Further downside could extend, potentially dragging Sensex down to 80,200. Nifty 50 witnessed sharp upmove on June 6 after the outcome of RBI's mid quarter policy meet and closed the day with decent gains of 252 points. 'A long bull candle was formed on the daily chart that placed it at the edge of a decisive upside breakout of the broader range movement at 25,000 - 25,100 levels. Nifty 50, on the weekly chart, formed a long bull candle after the minor dip of previous two weeks. The weekly chart formation indicates a bullish rising three method type pattern, which is an uptrend continuation pattern,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the next upside levels to be watched for Nifty 50 are around 25,200 and 25,500 levels this week. Immediate support is placed at 24,850 levels. Om Mehra, Technical Research Analyst, SAMCO Securities said that the Nifty 50 formed a strong bullish candle on the daily chart, decisively crossing and sustaining above the earlier resistance zone of 24,900. 'This breakout, accompanied by a weekly gain of 1.02%, underpins the underlying bullish tone and signals the continuation of upward momentum. The index is now comfortably positioned above its 9 EMA, with the widening gap from the 20 EMA offering an additional cushion for any short-term pullbacks. The daily RSI has bounced back above the 60 mark, aligning with the earlier positive divergence and confirming strength in momentum,' Mehra said. The resistance is seen near 25,120, and a sustained move above this could pave the way for further gains in this coming week. On the downside, support has shifted towards 24,880 – 24,900, which now acts as a buy-on-dip zone, added Mehra. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 formed a strong bullish candle and closed 100 points away from its resistance. 'The index has to break the 25,150 level to gain significant momentum towards the 25,700 level, till then one can look to short the index at present levels with a target of support at the 24,500 level,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, the current upward trend may continue for a while and Nifty 50 could find support between 24,970 and 24,900, and experience resistance close to 25,200 and 25,280 in today's session. Bank Nifty index rallied 817.55 points, or 1.47%, to close at 56,578.40 on Friday, while it ended the week with a 1.49% gain. 'Bank Nifty broke out of a six-week consolidation phase and hit fresh all-time highs. The index is trading above its 21-day and 55-day EMAs, reinforcing the positive momentum. RSI at 67 indicates strong but sustainable buying interest. Key support lies at 56,100 any breakdown below this level could see the index slide further toward 55,600. On the upside, immediate resistance is seen at 57,000; a decisive move above this may open the door for a rally toward 57,500,' said Puneet Singhania, Director at Master Trust Group. He believes the overall setup remains positive, and suggests traders to look to buy on dips. Bajaj Broking Research said in a note that the Bank Nifty index formed a strong bull candle in the weekly chart as it generated a breakout above the upper band of the last 6 weeks range signaling resumption of the up move after recent consolidation. 'We expect the index to maintain positive bias and head higher towards 56,700 and 57,200 levels in the near term. The short-term structure remains constructive with immediate support placed at 55,900 levels being the Friday's breakout area. While key support is placed at 55,200 levels being the confluence of 20 days EMA and key retracement area,' it added. According to Amol Athawale, for Bank Nifty, a range breakout formation on daily charts suggests potential for further uptrend. 'For trend-following traders, the key support zones are around 56,000 and 55,500. Above these levels, the index could continue its positive momentum towards 57,200 – 57,700. However, if it falls below 55,500, the uptrend may become vulnerable. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 9 June 2025
Stock Market Today: During the week ending 6 June 2025, the benchmark Nifty-50 index managed to end at 25,003.0, up 1.0% week on week , primarily helped by favorable domestic cues. Bank Nifty also gained 1.4% to 56,578.40 levels while Realty, auto and even Metals were among other key gainers though IT in wake of unfavorable global cues was a key loser. The broader markets saw smart gains with mid and small caps rising between 2.8% and 4%. For the Nifty-50 index the 20-day SMA, around 24,800, will act as a trend decider level and above this level, the bullish formation is likely to continue, with 25,100 serving as the immediate resistance.. A successful breakout above 25,100 could push the market up to 25,400–25,500, and conversely below 24,800 the market may retest the 24,500/80600 level, as per Amol Athawale, VP-technical Research, Kotak Securities. For Bank Nifty the key support zones are around 56,000 and 55,500, above this the positive momentum could continue towards 57,200–57,700, added Athawale. Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of the monsoon and sowing patterns will be monitored due to their implications for rural consumption. On the global front, developments in trade negotiations and movements in U.S. bond yields will continue to influence investor sentiment. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks These Include Infosys Ltd , ICICI Bank , CESC Ltd , Bajaj Finserv Ltd, Bharat Heavy Electricals Ltd, Poonawalla Fincorp Ltd, Fino Payemts Bank and Bajaj Housing Finance Ltd Infosys Ltd- Bagadia recommends buying Infosys or INFY at around ₹ 1568 keeping Stoploss at ₹ 1515 with a target price of ₹ 1660 INFY is currently trading at 1586, showing signs of stabilization after a sharp decline earlier in the year. The price action over the past few weeks has entered a narrow consolidation band, indicating a phase of base-building. This sideways movement, occurring after a pronounced downtrend, may be laying the groundwork for a potential reversal, though confirmation through stronger price follow-through is still awaited. 2. ICICI Bank Ltd - Bagadia recommends buying ICICIBANK at around ₹ 1460 keeping Stop loss at ₹ 1400 with a target price of ₹ 1575 ICICIBANK is currently trading at 1460 and is showing signs of strength after retesting its all-time high zone. The stock has been consolidating in a narrow range near its lifetime highs, indicating healthy digestion of prior gains and suggesting that market participants are not rushing to book profits. This consolidation near the peak levels generally acts as a continuation pattern, with a potential breakout likely to propel the stock into uncharted territory 3. CESC Ltd - Dongre recommends buying CESC at around ₹ 168 keeping Stoploss at ₹ 160 for a target price at around ₹ 183 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 168 and maintaining a strong support at ₹ 160. The technical setup indicates the potential for a price retracement towards the ₹ 183 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 160 offers a prudent approach to capturing the anticipated upside. 4. Bajaj Finserv Ltd- Dongre recommends buying BAJAJFINSV at around ₹ 1992 keeping Stoploss at around ₹ 1950 for a target price of ₹ 2100 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1992 and holding above a key support level at ₹ 1950. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1950 to manage downside risk. The target for this trade is set at ₹ 2100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 5. Bharat Heavy Electricals Ltd- Dongre recommends buying Bharat Heavy Electricals or BHEL at around ₹ 255 keeping Stoploss at around ₹ 250 for a target price of ₹ 267 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 255 and holding above a key support level at ₹ 250. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 250 to manage downside risk. The target for this trade is set at ₹ 267, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Poonawalla Fincorp Ltd- Koothupalakkal recommends buying POONAWALLA FINCORP at around ₹ 421 for a target price of ₹ 445keeping Stoploss at around ₹ 410 The stock has indicated a strong bullish candle on the daily chart to give a breakout above the previous peak zone of ₹ 416 level to strengthen the bias and can anticipate for further rise in the coming sessions. The RSI is currently maintained strong and can expect for further positive move in the coming sessions with significant volume participation also visible during the session. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 445 level keeping the stop loss of ₹ 410 level. 7. Fino Payments Bank Ltd- recommends buying FINO PAYMENTS BANK at around ₹ 266 for a target price of ₹ 282 keeping Stop loss at ₹ 260 The stock has witnessed a decent pullback from near the important 50EMA at ₹ 246 level and has strengthened the bias with a series of positive candles to expect for further upward move in the coming sessions. The stock has corrected well and has much scope for further upward movement with the chart setup looking good. The RSI has indicated a positive trend reversal to signal a buy and with much upside potential visible, one can anticipate for another fresh round of momentum to carry on with the positive move further ahead. 8. Bajaj Housing Finance Ltd - Koothupalakkal recommends buying Bajaj Housing Finance or BAJAJ HSG FIN at around ₹ 125.66 for a target price of ₹ 135 keeping Stop loss at ₹ 122 The stock has witnessed an overall gradual uptrend after bottoming out near 104 zone and currently after a short period of consolidation has indicated a positive candle formation on the daily chart taking support near the 50EMA level at ₹ 123 zone to anticipate for further rise in the coming sessions. The RSI is well placed and has much upside potential visible from current rate. With the chart looking good, we suggest buying the stock for an upside target of ₹ 135 level keeping the stop loss of ₹ 122 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
02-06-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 2
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Monday tracking weak global market cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,870 level, a discount of nearly 1 point from the Nifty futures' previous close. On Friday, the domestic equity market indices ended lower, with the benchmark Nifty 50 closing below 24,800 level The Sensex declined 182.01 points, or 0.22%, to close at 81,451.01, while the Nifty 50 closed 82.90 points, or 0.33%, lower at 24,750.70. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex formed a small bearish candle on weekly charts, and is holding a weak formation on intraday charts, which is largely negative. 'We believe that the 20-day SMA (Simple Moving Average) and the level of 80,900 will act as key support zones for short-term traders, while 82,200 will serve as a key resistance area for the bulls. As long as Sensex remains between the 80,900 and 82,200 ranges, a sideways, range-bound texture is likely to continue,' said Amol Athawale, VP-Technical Research, Kotak Securities. On the upside, he believes a successful breakout above 82,200 could push the Sensex towards 82,900. Further upside may also continue, potentially lifting the index up to 83,700. 'On the other hand, a breach of 80,900 could change the sentiment. Below this level, Sensex is likely to retest the levels of 80,300 – 79,800,' said Athawale. Nifty 50 declined 0.33% to end at 24,750.70 on May 30. On the weekly front, the index slipped 0.41%, however, posted a healthy monthly gain of 1.71%, reflecting a broader consolidation phase within a bullish trend. 'Nifty 50 is navigating a parallel channel between 24,500 and 25,000, with the index hovering near the median of this range. However, with several attempts, the index has yet to deliver a decisive breakout in either direction. Nifty 50 remains below the 9-day EMA, signalling near-term fatigue, but remains firmly above the 20-day EMA, which still supports the ongoing uptrend. The index remains non-directional, but a fresh move is likely to emerge only after a confirmed close above or below the defined range on consecutive sessions,' said Om Mehra, Technical Research Analyst, SAMCO Securities. The daily and weekly RSI continue to sustain above the 55 mark, suggesting a neutral momentum setup. The primary structure remains bullish, and a sustained close above 25,000 may open the gates for a renewed upward rally, he added. Puneet Singhania, Director at Master Trust Group said that the Nifty 50 index continues to sustain above its 21-day EMA, which is acting as a critical dynamic support level. 'Nifty 50 index is still holding above key moving averages, supporting the ongoing uptrend. RSI is also trading above 14-day SMA, currently trading at 59. Strong support lies around 24,500, a previously tested demand zone. If this level breaks, Nifty 50 may drift lower toward 24,200. On the upside, resistance is seen at 25,000. A decisive move above this level could lead to a rally toward 25,300. Positional traders can look to buy on dips near support,' said Singhania. According to Dr. Praveen Dwarakanath, Vice President of the Nifty 50 formed an insider candle indicating indecisiveness in the index. 'The momentum indicators are all decaying due to the sideways move in the index for the last 5 trading days. The index continued its consolidation between the 24,600 and 25,150 levels. The options writers' data for the coming week's expiry also suggests range bound move in the index. The higher time frame shows bullishness in the index; however, the consolidation for the last few days has played a spoilsport, suggesting a possible fall towards the support at 24,600 levels before an up move,' said Dwarakanath. The ADX average line is well below 20 levels, indicating a possible trend is yet to be established on the daily chart, he added. Judging by the bullish market outlook, VLA Ambala, Co-Founder of Stock Market Today suggests buying at lower levels for market participants. 'Considering these aspects, the Nifty 50 index's key support level for this week may lie between the 24,520 and 24,450 range. However, if there's a gap-down opening, the range might serve as an immediate support level, and the levels of 24,880 and 25,030 may serve as resistance points,' Ambala said. Bank Nifty index rallied 203.65 points, or 0.37%, to close at 55,749.70 on Friday, forming a small bull candle with a higher high and higher low on the weekly chart, signaling consolidation with positive bias. 'Bank Nifty traded with high volatility throughout the week but managed to end positive, showing resilience near key support levels. The index took support near its 21-day EMA and has consistently traded above this level, which is currently near the 55,000 mark. The index is currently at the upper edge of the trading range, showing strength. Key support is placed at 55,000 and 54,500, offering a good zone for dip buying,' said Puneet Singhania. On the upside, 56,100 is a key resistance. A sustained move above this level could trigger a sharp rally toward 57,000. Overall, the setup remains positive, and traders can look to buy on dips, he added. Bajaj Broking Research said that the Bank Nifty index is currently testing the upper band of the last 5 weeks consolidation range placed around 55,800 - 56,000 levels. 'Overall, we expect the index to extend the last 5 weeks' consolidation in the broad range of 56,000 - 53,500. A move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions. Immediate support is placed at 54,800 levels while the short-term support is seen at 54,000 - 53,500 being the confluence of key retracement and 50 days EMA,' said Bajaj Broking Research. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
26-05-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 26
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking positive global market cues. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,930 level, a premium of nearly 50 points from the Nifty futures' previous close. On Friday, the domestic equity market ended sharply higher, with the Nifty 50 closing above 24,800 level. The Sensex surged 769.09 points, or 0.95%, to close at 81,721.08, while the Nifty 50 settled 243.45 points, or 0.99%, higher at 24,853.15. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Senex formed a promising reversal formation on daily charts and currently it is comfortably trading above 20 day SMA (Short Term Moving Average) which is largely positive. 'We are of the view that 80,900 and 80,500 would be the key support zones for the short term traders while 82,300 would be the immediate resistance zone for the bulls. A successful breakout above 82.300 could push Sensex up to 82,700 - 83,600. On the other side, below 80,500 the sentiment could change. Below the same, Sensex could slip till 80,300. Further downside may also continue which could drag the index up to 79,700,' said Amol Athawale, VP-Technical Research, Kotak Securities. Heavy call writing at the Nifty 25,000 and 25,500 strikes signals strong resistance, while strong put writing at 24,500 highlights solid support. This defines a well-balanced trading range between 24,500 – 25,100. Until a breakout occurs on either side, traders should remain cautious and focus on a stock-specific, risk-managed approach, Choice Broking said in a note. Nifty 50 ended with a gain of 0.99% at 24,853.15 on May 23 and closed 0.67% lower on the weekly basis. The index has formed a small bear candle with a long lower shadow on the weekly chart. 'Nifty 50 held the support of the 21-Day Exponential Moving Average (21-DEMA) and formed a bullish candle on the daily chart, indicating strength. However, the index is still placed below the psychological resistance level of 25,000. A firm breakout above 25,000 could drive the Nifty 50 towards 25,200 – 25,250 levels in the short term,' said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. On the downside, 21-DEMA support is placed near 24,480. As long as the index holds above this level, the probability of an upside breakout remains high, he added. Om Mehra, Technical Research Analyst, SAMCO Securities, noted that the higher high formation on the daily chart remains intact, strengthening the uptrend. 'Nifty 50 continues to oscillate around the 9 and 20 EMA, which have acted as support and resistance in recent sessions. The supports are placed at 24,600 and 24,550, while resistance is capped near 25,080. The advance decline ratio remained positive, signaling healthy market breadth. India VIX settled at 17.16, and a further drop below 17, ideally toward 16 or lower, would help ease volatility and strengthen the bullish outlook. Until then, the index may maintain a neutral to positive stance,' Mehra said. VLA Ambala, Co-Founder of Stock Market Today, advises mid-term and long-term investors to use the opportunity to buy on dips of 3% to 10%. 'From a technical point of view, Nifty 50 can gain support around 24,750 and 24,660, while resistance can be expected around 24,960 and 25,050,' said Ambala. Dr. Praveen Dwarakanath, Vice President of said that the Nifty 50 index has an immediate resistance at the 25,200 level and a support at the 24,500 level. 'Nifty 50 index has momentum on the upside, indicating it can be bought at every dip. The index has taken support from its 20-day moving average and bounced from the day's opening, indicating strength in the index. The Bollinger band shows an expansion, suggesting a possible rally in the index from the current level. The ADX average line is sloping down with the ADX DI- line and the ADX DI+ line is sloping upside, suggesting momentum upside. The stochastics is in the oversold region, indicating bullishness to continue in the index,' said Dwarakanath. Bank Nifty index gained 456.95 points, or 0.83%, to close at 55,398.25 on Friday, and formed a doji candle with a long lower shadow on the weekly chart, signaling consolidation amid buying demand at lower levels. 'In the coming week, we expect the Bank Nifty index to maintain a positive bias and head higher towards the upper band of the last 4 weeks consolidation placed around 55,800 - 56,000 levels. Overall, we expect the index to extend the last 4 weeks' consolidation in the broad range of 56,000-53,500. Only a move above 56,000 levels will signal acceleration of the up move,' said Bajaj Broking Research. In the last 22 sessions, it has retraced just 38.2% of the prior 9-session rally (49,157–56,098), indicating a shallow pullback that suggests underlying strength and potential higher bottom formation. 'Within the consolidation, we believe dips should be used as buying opportunities. Key support at 54,000 - 53,500 being the confluence of key retracement and 20 days EMA,' the brokerage firm added. Hrishikesh Yedve highlighted that the Bank Nifty index formed a green candle following a hammer candle on the daily chart, indicating strength. 'On the upside, the index is facing resistance near 55,700 levels. A sustained move above this level could lead to a test of new all-time highs. On the downside, 21-DEMA support is placed near 54,630. As long as the index remains above this level, it is likely to continue its bullish momentum,' Yedve said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
26-05-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 26 May 2025
Stock Market Today: During the week ending 23 May 2025, amidst volatility, the market continued consolidating as the benchmark Nifty-50 index, at 24,853.15, ended 0.7% lower week on week. The Bank Nifty, at 55,398.25, ended nearly flat, though Realty, Metals, and Industrials were among key gainers. Autos, FMCG, and IT were among the key losers. The Broader markets also ended marginally lower. For the benchmark Nifty 50 index, 24600 and 24450 would be the key support zones for the short term, while 25000 would be the immediate resistance zone for the bulls. A successful breakout above 25000 could push the market up to 25150-25500. On the other side, below 24450, the sentiment could change, said Amol Athawale, VP-Technical Research, Kotak Securities: For bank Nifty, a higher bottom support is placed at 54575, as long as it is trading above the same, the bullish momentum is likely to continue, he added In the week ahead, market participants will first react to the RBI's record dividend transfer of ₹ 2.7 lakh crore to the government and its implications for fiscal policy. Additionally, the release of India's industrial and manufacturing production data for April, scheduled for May 28, along with the Q1 GDP growth figures, will offer insights into the economic recovery trajectory. Updates on the progress of the monsoon will also be closely monitored. On the global front, developments in the U.S. bond market, the release of FOMC minutes, and progress in the India-U.S. trade negotiations will continue to influence market sentiment, said Ajit Mishra – SVP, Research, Religare Broking Ltd Moreover, the final leg of the Q4 earnings season—with results from key companies like Bajaj Auto, Aurobindo Pharma, and IRCTC—will remain in focus. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks. These include Bharat Heavy Electricals Ltd or BHEL, Nestle India Ltd, SBI Life Insurance Company Ltd, Axis Bank, DLF Ltd, Paras Defence and Space Technologies Ltd , Tourism Finance Corporation of India Ltd and NIIT Ltd Heavy Electricals Ltd- Bagadia recommends buying Bharat Heavy Electricals or BHEL at around ₹ 254.80, keeping Stop Loss at ₹ 245 for a target price of ₹ 273 BHEL is currently trading near ₹ 254.80, demonstrating a sharp recovery from recent lows and signaling a strong reversal in momentum. The stock is on the verge of breaking its recent lower high structure, supported by a notable surge in trading volumes—indicating robust buying interest and market participation. 2. Nestle India Ltd - Bagadia recommends buying Nestle India or NESTLEIND at around ₹ 2414 keeping Stoploss at ₹ 2329 for a target price of ₹ 2583 NESTLEIND is currently trading at ₹ 2414, having rebounded from a key support level at ₹ 2295. The stock has formed a bullish candlestick pattern on the daily timeframe and is poised to break out of its consolidation range between ₹ 2245 and ₹ 2425. A decisive breakout above this range would further validate the ongoing reversal trend, supported by a noticeable surge in trading volumes—indicating strong buying interest. 3. SBI Life Insurance Company Ltd- AR Positional BUY sbilife @ 1798 SL 1770 TGT 1860 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs. 1860. At present, the stock is maintaining a crucial support level at Rs.1770. Given the current market price of Rs.1798, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs. 1860. 4. AXIS Bank Ltd- Dongre recommends buying AXIS Bank or AXISBANK at around ₹ 1210 keeping Stoploss at ₹ 1175 for a target price of ₹ 1250 We have seen a major support in this stock around Rs. 1175 So, at the current juncture, the stock has again seen a reversal price action formation at the Rs.1210 price level, which may continue its rally till its next resistance level of Rs.1250 so traders can buy and hold this stock with a stop loss of Rs.1175 for the target price of Rs.1250 in the upcoming weeks. 5. DLF Ltd- Dongre recommends buying DLF at around ₹ 775 keeping Stoploss at ₹ 745 for a target price of ₹ 795 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock's price, possibly to around Rs. 795 Currently, the stock is holding a crucial support level at ₹ 745. Given this scenario, there is potential for the stock to rebound towards the ₹ 795 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at Rs.745 to manage risk effectively. The target price for this trade is ₹ 795, reflecting the anticipated upward movement based on the identified technical 6. Paras Defence and Space Technologies Ltd=Koothupalakkal recommends buying Paras Defence or ₹ 1636 with target price of ₹ 1730 keeping Stop loss at ₹ 1600 The stock has recently witnessed a steep rise with strong trend maintained and after a short period of correction has once again indicated a turn around with bias improving taking support near the ₹ 1550 zone and expecting for another round of fresh upward move in1. the coming sessions. The RSI has cooled off from the highly overbought zone and is currently well placed having further potential to carry on with the positive move further ahead. 7. Tourism Finance Corporation of India Ltd- Koothupalakkal recommends buying Tourism Finance Corporation or TOURISM FINANCE at around ₹ 209 for a target price of ₹ 220 keeping Stop loss at ₹ 204 The stock has been in consolidation for quite some time with bias maintained intact and during the last hours of the intraday session, has indications of improving bias with huge volume participation visible to anticipate for further rise in the coming sessions. With the RSI corrected from the highly overbought zone, is currently well positioned and with strength indicated can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹ 220 level keeping the stop loss of ₹ 204 level. 8. NIIT Ltd- Koothupalakkal recommends buying NIIT LTD at around ₹ 137.20 for a target price of ₹ 146 keeping Stop loss at ₹ 135 The stock has witnessed a decent revival from the low made near ₹ 103 zone and recently, maintaining above the important 50EMA level at ₹ 133 has shown signs of improvement in the bias with a positive candle formation on the daily chart and can expect for further upward move in the coming days. The RSI is picking up with a gradual rise and can carry on with the positive move with much upside potential visible. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 146 level keeping the stop loss of ₹ 135 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
