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Mint
21-07-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 21
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Monday, tracking mixed global market cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 25,019 level, a discount of nearly 13 points from the Nifty futures' previous close. On Friday, the domestic equity market ended lower, with the benchmark Nifty 50 slipping below 25,000 level. The Sensex tanked 501.51 points, or 0.61%, to close at 81,757.73, while the Nifty 50 settled 143.05 points, or 0.57%, lower at 24,968.40. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex, on daily and intraday charts, is holding lower top patterns, and on weekly charts, it has formed a bearish candle, which is largely negative. 'We believe that the short-term market texture is weak, but a fresh sell-off is possible only after the dismissal of 81,600. Below this level, Sensex is likely to retest the levels of 80,700 - 80,400. On the flip side, the 50-day SMA (Simple Moving Average) or 82,100 and 82,300 would act as crucial resistance zones for short-term traders,' said Amol Athawale, VP-technical Research, Kotak Securities. He believes if Sensex manages to trade above 82,300, it could bounce back to the 20-day SMA or 83,000, while further upside potential could lift the index up to 83,400 - 83,600. Nifty 50 witnessed sharp weakness and closed the day lower on July 18, forming a reasonable negative candle on the daily chart, which indicates an attempt of downside breakout of the immediate support. 'The bullish chart pattern like higher tops and bottoms seems to have been negated and we observe the beginning of bearish chart pattern like lower tops and bottoms formation on the daily chart. The recent swing high of 25,255 could now be considered as a new lower top of the pattern,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 remains weak, and a slide below 24,900 levels could open more weakness down to 24,500 in this week. However, any pullback rally from here could find strong overhead resistance around 25,250. Om Mehra, Technical Research Analyst, SAMCO Securities noted that for the first time in several sessions, Nifty 50 closed below its 50-day SMA, and there was also a negative crossover between the 9-EMA and 20-EMA, signalling a potential shift in short-term momentum. 'While the broader trend remains upward, the near-term outlook has shifted to cautious. Unless Nifty 50 reclaims 25,240 and sustains above the short-term moving averages, the trend may remain weak. Currently, a shift from a buy-on-dip stance to a more selective sell-on-rise approach would be preferred for the next few sessions,' said Mehra. Sudeep Shah, Head - Technical and Derivative Research, SBI Securities highlighted that on the weekly chart, Nifty 50 formed a bearish candle with a lower high and lower low's structure — a classic indication of downward momentum. Throughout 'The zone of 24,940 - 24,900 will act as immediate support for the Nifty 50 index as it is the confluence of the 50-day EMA level and 61.8% Fibonacci retracement level of its prior upward rally (24,473 - 25,669). If the index slips below the 24,900 level, then the next crucial support is placed at the 24,700 level. On the upside, the zone of 25,130 - 25,160 will act as an immediate hurdle for the index,' Shah said. VLA Ambala, Co-Founder of Stock Market Today said that on technical charts, Nifty 50 established a very bearish pattern on the daily time frame and a 'three black crows' formation on the weekly chart. 'In this situation, I suggest maintaining a 'sell on rise' strategy until we reach key support levels. Considering these aspects, we can expect Nifty 50 to gather support between 24,750 and 24,680, and face resistance near 25,100 and 25,170 in today's market session,' Ambala said. Bank Nifty ended 545.80 points, or 0.96%, lower at 56,283.00 on Friday, and declined 0.83% for the week. 'Bank Nifty broke its short-term swing low which was around 56,590 and formed a red candle on both the daily and weekly charts, signalling weakness. The next major support for the Bank Nifty is placed near 55,940, where 50-DEMA is placed followed by 55,150, while on the upside, 57,280 will act as strong resistance. As long as the index remains below 57,280, short-term traders are advised to adopt a sell-on-bounce strategy,' said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd. noted that the Bank Nifty index slipped below its 20-day SMA and upward trendline, indicating a loss of short-term momentum. 'Bank Nifty has turned the 56,900 at 20-SMA act as an immediate resistance. If the index sustains below this, it may test crucial support at 56,150 and 55,500 in the coming week. A breakdown below these levels could extend the decline towards 55,000 – 54,800. However, a close above 56,900 may trigger short-covering, pushing the index back towards 57,200 – 57,500,' said Gour. According to Puneet Singhania, Director at Master Trust Group, the broader trend remains intact with support from the 55-day EMA and the ascending trendline. 'Key support is placed at 56,000; a decisive break may lead to 55,500. On the upside, 56,700 acts as immediate resistance, and a breakout above this could reignite buying interest, targeting 57,100. Traders are advised to adopt a buy-on-dips approach near key support levels while maintaining caution amid prevailing market volatility,' said Singhania. 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
21-07-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50, global markets to Q1 results today; Eight stocks to buy or sell on Monday
Stock Market Today: For the week ending 18 July 2025, the benchmark Nifty-50 index ended 0.7% lower at 24,968.40, amid ongoing consolidation in the market. Bank Nifty at 56,283.00 saw similar losses, while the IT index was among other key losers, though Realty and Healthcare were among the top key gainers. In the broader indices, the mid- and small-caps registered healthy gains. The short-term market texture is weak, but a fresh sell-off is possible only after the dismissal of 24,900 for Nifty. Below this level, the market is likely to retest the levels of 24,600–24,500, as per Amol Athawale, VP of Technical Research, Kotak Securities. For Bank Nifty, 56,900 could serve as a crucial resistance area for the bulls, as per Athawale. Investors will first react to the results of three heavyweights—Reliance, HDFC Bank, and ICICI Bank—during early trades on Monday, while several prominent companies, including Infosys, Dr. Reddy's Laboratories, Bajaj Finance, Nestle India, and Cipla are scheduled to announce their quarterly results. Globally, market participants will monitor trade deal updates, which could influence FII flows and currency movements. At the same time, uncertainty persists as global markets recalibrate expectations for Federal Reserve rate cuts amid sticky inflation and trade-related tensions, as per Ajit Mishra—SVP, Research, Religare Broking Ltd. Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: Krishna Institute of Medical Sciences Ltd., Indian Hotels Company Ltd., Godrej Properties Ltd., Supreme Industries Ltd., Himatsingka Seide Ltd., Som Distilleries & Breweries Ltd., and Jagran Prakashan Ltd. Krishna Institute of Medical Sciences Ltd-Bagadia recommends buying KIMS at around ₹ 761.25, keeping Stop Loss at ₹ 734 for a target price of ₹ 822 KIMS is currently trading at ₹ 761.25 and has recently marked a new all-time high at ₹ 768.90, underscoring strong bullish momentum. The stock maintains a well-defined upward price structure characterized by higher highs and higher lows, reflecting sustained buying interest. This breakout to a new high signals a positive shift in market sentiment and robust demand from investors. 2. Indian Hotels Company Ltd—Bagadia recommends buying INDHOTEL at around ₹ 766.20, keeping Stoploss at ₹ 739 for a target price of ₹ 827 INDHOTEL is currently trading at ₹ 766.20, exhibiting a positive upward trajectory. The stock is forming a long-term symmetrical triangle pattern and has recently bounced from lower levels, indicating a resurgence in bullish momentum. It has taken strong support at the 50-day Exponential Moving Average (EMA) on the weekly timeframe and continues to trade comfortably above its 20-day, 50-day, and 200-day 3. Godrej Properties Ltd—Dongre recommends buying Godrej Properties, or GODREJPROP, at ₹ 2365, keeping Stoploss at ₹ 2325 for a target price of ₹ 2450 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2365 and maintaining strong support at ₹ 2925. The technical setup indicates the potential for a price retracement towards the ₹ 2450 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 ₹ 2325 offers a prudent approach to capturing the anticipated upside. 4. Supreme Industries Ltd—Dongre recommends buying SUPREMEIND at around ₹ 4216, keeping the stop loss at ₹ 4150 for a target price of ₹ 4400 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 4216 and maintaining strong support at ₹ 4150. The technical setup indicates the potential for a price retracement towards the ₹ 4400 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 ₹ 4150 offers a prudent approach to capturing the anticipated upside. 5. Jindal Steel & Power Ltd—Dongre recommends buying Jindal Steel & Power at around ₹ 957, keeping the stop loss at ₹ 940 for a target price ₹ 990 In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 957 and holding above a key support level at ₹ 940. 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 ₹ 940 to manage downside risk. The target for this trade is set at ₹ 990, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Himatsingka Seide Ltd.—Koothupalakkal recommends buying HIMATSINGKA SEIDE at around ₹ 154.80 for a target price of ₹ 166, keeping the stop loss at ₹ 151 The stock has indicated a higher low formation on the daily chart, taking support near the ₹ 148 level, and with a revival witnessed, has improved the bias to anticipate a further upward move in the coming sessions. The chart setup technically looks good, with the RSI well positioned, indicating a trend reversal to signal a buy, and with much upside potential visible, we can expect a further rise. With the volume of participation on the rise, we suggest buying the stock. 7. Som Distilleries & Breweries Ltd—Koothupalakkal recommends buying SOM DISTILLERIES at around ₹ 160 for a target price of ₹ 170. Stop loss at ₹ 156 The stock has witnessed a short period of correction, and taking support near the important 50EMA zone at the 150 level has once again indicated a pullback with a bullish candle to form a higher bottom formation to improve the bias, and we can anticipate a further rise. The RSI is currently well placed after the correction and has indicated a positive trend reversal to signal a buy. With the chart technically looking good, we suggest buying the stock. 8. Jagran Prakashan Ltd- Koothupalakkal Buy JAGRAN PRAKASHAN at around ₹ 74.77 for a target of ₹ 80, keeping a stop loss of ₹ 73 The stock has been in consolidation for quite some time, maintaining the support near the ₹ 70.50 level, currently indicating a strong bullish candle formation moving past the important 50EMA at the ₹ 72.60 level to improve the bias, and we can expect further gains in the coming sessions. The volume participation has been significant, and with the RSI currently well positioned, it has indicated a steep rise, indicating strength, and can carry on with the positive move further ahead. With much upside potential visible from the current rate and the chart technically looking good, we suggest buying the stock. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
14-07-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 14?
Nifty 50, Sensex today: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, following mixed global market cues. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 25,173.50 level, a discount of 48.4 points from the Nifty futures' previous close. On Friday, the Indian stock market ended sharply lower, with the Nifty 50 closing below 25,200 level. The Sensex dropped 689.81 points, or 0.83%, to close at 82,500.47, while the Nifty 50 settled 205.40 points, or 0.81%, lower at 25,149.85. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a bearish candle on weekly charts, and on daily charts, it has formed a lower top formation. 'We believe that as long as Sensex remains below 83,000, the weak sentiment is likely to continue. Below this level, the index could slip to the 50-day SMA or around 82,100. Further downside may also continue, potentially dragging the market down to 81,500 - 81,100,' said Amol Athawale, VP- Technical Research, Kotak Securities. On the other hand, he believes if Sensex trades above 83,000, sentiment could improve, and if the index manages to stay above this level, it could move up to 83,700 - 84,000. Nifty 50 slipped below the 20-day SMA (Simple Moving Average) zone, and formed a bearish structure on the weekly chart, pointing to the likelihood of continued correction. 'Nifty 50 violated the crucial supports of 25,331 and 25,222 and closed below its 20-day moving average (20 DMA). The short-term trend has now turned bearish for the Nifty 50, where the next support is seen in the band of 24,900 - 25,000. On the higher side, the previous support level of 25,331 could now interchange its role as an immediate resistance,' said Nandish Shah - Deputy Vice President, HDFC Securities. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 broke down below the support at the 25,200 level, indicating weakness in the index. 'The momentum indicators are showing signs of weakness in the index. The weekly expiry calls are written in higher volumes, also indicating the weakness to continue. The ADX DI+ line is sloping down, with the ADX DI- line sloping up, suggesting a further fall in the index from the current levels. The index closed below its 20-day moving average, further confirming the weakness in the index,' said Dwarakanath. VLA Ambala, Co-Founder, Stock Market Today, suggests traders to consider a sell-on-rise strategy and avoid dip buying until the Nifty 50 index reaches the 24,500 levels. 'We can expect Nifty 50 to find support between 24,950 and 24,840, and meet resistance near 25,220 and 25,300 in today's trading session,' Ambala said. Bank Nifty index declined 201.30 points, or 0.35%, to close at 56,754.70, on Friday, forming a bear candle with a lower high and lower low, signaling continuation of the corrective decline for the second session in a row. 'Bank Nifty index, on expected lines, in the last six sessions, is seen consolidating in the range 56,500 - 57,600. We expect the index to extend the same and only a move below 56,500 will signal extension of corrective decline towards the key support area of 56,000 - 55,500. Key short-term term support is placed at 56,000 – 55,500 region, representing a confluence of the 50-day EMA and the key retracement level,' Bajaj Broking Research said. According to the brokerage firm, the broader trend remains positive, and any dips should be viewed as buying opportunities. Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking advises a 'sell on rise' strategy as long as the Bank Nifty index holds below the 57,500 mark, with downside targets placed at 56,500 and 56,000. 'For the ongoing expiry, put options show the highest concentration near the 56,500 and 56,000 strikes, marking these as key support levels. Conversely, significant open interest in call options at 57,000 and 57,500 indicates potential resistance, suggesting a likely trading range of 56,000–57,500 in the upcoming sessions. Traders are advised to remain cautious, consider a sell on rise approach, and maintain strict stop-loss levels to manage risks effectively amid ongoing market volatility and potential price fluctuations,' said Bhojane. He believes the bias remains sideways, and the Bank Nifty index is likely to find support at 56,500 - 56,000, and face significant resistance in the 57,000 – 57,500 range. 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
07-07-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 7
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a tepid note on Monday, tracking weak global market cues amid confusion over US President Donald Trump's tariffs. The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 25,536 level, a discount of nearly 4 points from the Nifty futures' previous close. On Friday, the domestic equity market snapped its two-day losing run to end higher, with the benchmark Nifty 50 holding above the 25,400 level. The Sensex rose 193.42 points, or 0.23%, to close at 83,432.89, while the Nifty 50 settled 55.70 points, or 0.22%, higher at 25,461.00. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex, on intraday charts, is holding a lower top formation, and on weekly charts, it has formed a bearish candle, which is largely negative. 'The short-term market texture still appears to be positive. We believe that currently, the market is witnessing non-directional activity; perhaps traders are waiting for either side breakout. For the bulls, 83,600 would act as an immediate resistance zone. If Sensex succeeds in trading above this level, it could move up to 84,100. A successful breakout above this could push the index towards 85,000 - 85,300,' said Amol Athawale, VP-Technical Research, Kotak Securities. On the flip side, if Sensex falls below 83,000, sentiment could turn negative. Below this level, the index could slip to 82,100 - 81,900, he added. Nifty 50 shifted into a sustainable bounce back from the swing lows on July 4 and closed the day higher with modest gains. 'A small positive candle was formed with a long lower shadow on the daily chart which indicates a possibility of an emergence of buying interest from near the crucial support of around 25,300 levels. The bullish chart pattern like higher tops and bottoms is intact and current weakness in the market could be in line with the new higher bottom formation. The higher bottom reversal pattern needs to be confirmed with more upside,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Nifty on the weekly chart formed a reasonable negative candle pattern this week after an excellent upside breakout of broader high low range of around 24,500 - 25,200 levels in last week. 'Hence, the Nifty 50 is at the crucial support of previous broken resistance as per the concept of change in polarity. The next upside to be watched is around 25,700 for next week and 26,200 for the next two weeks and immediate support is placed at 25,300,' Shetti said. Puneet Singhania, Director at Master Trust Group noted that the Nifty 50 formed a negative weekly candle, slipping 0.69% after the prior week's gain. 'Despite this, Nifty 50 holds key levels, with the 25,250 – 25,300 zone acting as strong support. The index remains above the 21-day and 55-day EMAs, while RSI at 61 signals strength. A breach below support may trigger further downside toward the psychological 25,000 mark. On the upside, immediate resistance is seen at 25,700; a decisive breakout above this level could trigger a rally toward 26,000. Positional traders can look to buy on dips near support,' said Singhania. VLA Ambala, Co-Founder of Stock Market Today said that on a weekly frame, the Nifty 50 index formed a bearish candlestick pattern, a bearish hammer. 'This move can be viewed as a healthy pullback, as we are still amid an uptrend. We can expect Nifty 50 to find support between 25,400 and 25,320, and experience resistance near 25,570 and 25,650 in the next session,' Ambala said. Bank Nifty index gained 239.95 points, or 0.42%, to close at 57,031.90 on Friday, forming a small bear candle with a higher high and higher low on the weekly chart, signaling consolidation after the recent strong up move. 'Key support for Bank Nifty is placed at 56,000 – 55,500 region, representing a confluence of key technical indicators — including the 50-day EMA and the 61.8% Fibonacci retracement of the recent rally (55,149 - 57,614). We expect the index to enter consolidation in the range 56,000 - 57,500 in the coming sessions. Only a move above 57,500 will open further upside towards 58,500 levels in the coming weeks,' said Bajaj Broking Research. According to Puneet Singhania, the overall chart structure remains bullish, with the Bank Nifty index sustaining above its 21-day and 55-day EMAs. 'Key support lies at 56,500, aligned with the 21-day EMA. A breach may lead to further profit booking toward 56,000, though the broader trend remains strong. As long as these support levels are intact, a buy-on-dips strategy is advisable. On the upside, 57,600 remains a key resistance; a breakout above this level could trigger a fresh rally toward 58,000. Traders should watch for price action near support zones for potential entry opportunities,' said Singhania. 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
07-07-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell Monday—7 July 2025
Stock Market Today: Amid concerns around trade negotiations in the US, the markets continued to consolidate during the week ended 4 July 2025. The Benchmark Nifty 50 index ended around 0.7% lower at 25,461.00. Bank Nifty also followed suit, ending 0.75% lower at 57,031.90, while Realty was another loser, though IT and Healthcare were among key gainers. In the broader markets, the mid-cap and small-cap indices gained 0.3% to 0.5%. For the Nifty, 25,500 would act as an immediate resistance zone, above which it could move up to 25,670 and the 25,800–25,900 cone. On the flip side, if the market falls below 25,300, it could slip to 25,000–24,950, said Amol Athawale, VP-Technical Research, Kotak Securities. For Bank Nifty, the 20-day SMA (Simple Moving Average) at 56,500 is a key level to watch, added Athawale. The coming week holds significant importance not only for Indian markets but for global equities as well. The most anticipated event is the outcome of the U.S. trade deadline on July 9, which could shape global trade dynamics. Investors will also closely monitor the release of the U.S. Federal Reserve's FOMC minutes on the same day, as per Ajit Mishra—SVP, Research, Religare Broking Ltd. Domestically, the spotlight will shift to corporate earnings, with IT major TCS and retail giant Avenue Supermarts among the prominent companies scheduled to report their quarterly results, setting the tone for the Q1 earnings season. Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: V2 Retail Ltd, Laurus Labs Ltd, Indian Oil Corporation Ltd, Punjab National Bank, Punjab National Bank, Ideaforge Technology Ltd, VA Tech Wabag Ltd, and Fusion Finance Ltd. 1. V2 Retail Ltd—Bagadia recommends buying V2RETAIL at around ₹ 1923.9, keeping the stop loss at ₹ 1850 keeping the target price of ₹ 2077 V2RETAIL, currently trading at 1923.9, exhibits a strong uptrend, supported by its consistent position above key exponential moving averages (EMAs). After a prolonged range-bound phase over the past two months, the stock appears to have resumed its upward journey. With higher lows being formed on the daily chart, the medium-term uptrend remains intact. 2. Laurus Labs Ltd—Bagadia recommends buying LAURUSLABS at around ₹ 776, keeping stop loss at ₹ 748, and keeping target price at ₹ 838 Laurus Labs is currently trading at ₹ 776 and continues to exhibit strong bullish momentum, forming a consistent pattern of higher highs and higher lows. The stock recently marked a fresh 52-week high at ₹ 777 and is now approaching a key resistance zone near ₹ 800. A breakout above this level could trigger renewed buying interest and further fuel upward momentum 3. Indian Oil Corporation Ltd—Dongre recommends buying Indian Oil Corporation, or IOC, at around ₹ 152, keeping Stoploss at ₹ 145 for a target price of 158 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 152 and maintaining strong support at ₹ 145. The technical setup indicates the potential for a price retracement towards the ₹ 158 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 ₹ 145 offers a prudent approach to capturing the anticipated upside. 4. Multi Commodity Exchange of India Ltd—Dongre recommends buying MCX at ₹ 8865, with a stop loss ₹ 8500, for a target price ₹ 9200 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 8865 and maintaining strong support at ₹ 8500. The technical setup indicates the potential for a price retracement towards the ₹ 9200 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 ₹ 8500 offers a prudent approach to capturing the anticipated upside. 5 Punjab National Bank- Dongre recommends buying PNB at around ₹ 111, keeping Stop Loss at ₹ 107 for a target price of ₹ 118. 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. 118. Currently, the stock is holding a crucial support level at Rs.107. Given this scenario, there is potential for the stock to rebound towards the Rs.118 level in the near future. 6. Ideaforge Technology Ltd.-Koothupalakkal recommends buying IDEA FORGE at around ₹ 590 for a target price of ₹ 630, keeping Stop loss at ₹ 577 The stock has witnessed a short period of correction from the ₹ 664 level and has taken support at the ₹ 570 zone, indicating an ascending channel pattern on the daily chart with improvement in the bias, anticipating a further rise in the coming sessions. The RSI has witnessed a gradual slide from the highly overbought zone and is currently well placed with strength indicated, signaling a buy having much upside potential from the current rate. With the chart looking good, we suggest buying the stock for an upside target of the ₹ 630 level, keeping the stop loss at the the ₹ 577 level. 7. VA Tech Wabag Ltd - Koothupalakkal recommends buying WABAG at around ₹ 1466 for a target price of ₹ 1550. keeping Stop loss at around ₹ 1435 The stock has witnessed a gradual slide after peaking out near the 1680 zone and has corrected quite significantly, currently indicating signs of positive development. After consolidating near the 1415 level, the stock has indicated a bullish candle on the daily chart to improve the bias and anticipate for further rise in the coming days. The RSI is well positioned, correcting from the overbought zone, and has arrived near the oversold area, indicating a positive trend reversal to signal a buy. With much upside potential visible and the chart technically looking good, we suggest buying the stock for an upside target of 1550, keeping the stop loss at the 1435 level. 8. Fusion Finance Ltd - Koothupalakkal recommends buying FUSION FINANCE at around ₹ 194.65 for a target price of ₹ 210, keeping the stop loss at ₹ 189 The stock has indicated an ascending channel pattern on the daily chart with a series of higher bottom formations, and currently, once again, taking support near the 187 zone has indicated a pullback with a positive candle formation to improve the bias and anticipate a further rise in the coming sessions. The RSI with a short period of correction has once again shown signs of improvement with improvement in the bias, and we can expect a further upward move. With decent volume participation visible and the chart technically looking attractive, we suggest buying the stock for an upside target of ₹ 210, keeping the stop loss at the ₹ 189 level. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
