Market Trading Guide: NALCO, Bandhan Bank among 5 stock ideas for Monday
Indian benchmark indices ended with strong gains, aided by the RBI’s 50 bps repo rate cut. This marked the third successive positive close for the headline indices. The gains were led by banking, auto, and realty stocks. The Nifty closed above the 25,000 mark after several sessions, reflecting a surge in optimism among market participants.
Commenting on the market move, Rupak De, Senior Technical Analyst at LKP Securities, said, "A rally followed by consolidation often results in an upward breakout, and this time too, we expect Nifty to break out above the recent consolidation range. On the higher side, resistance is placed at 25,150, and a move above this level — or even a sustained close above 25,000 — could set the stage for a rally towards 25,350. On the downside, support is placed at 24,850. A breach below this may weaken the current rally and trigger some profit booking."
Target: Rs 200
Stop-loss: Rs 183
The stock has broken out of a consolidation phase and trades above its 50-DMA. RSI indicates a bullish crossover. A long position can be considered with a stop-loss below Rs 183.
Analyst: Rupak De, LKP Securities
Target: Rs 485
Stop-loss: Rs 433
The stock is making higher highs and higher lows and has crossed its previous swing high. It’s trading above the 200-DMA with a strengthening RSI, suggesting continued upward momentum.
Analyst: Rupak De, LKP Securities
Target: Rs 2,050
Stop-loss: Rs 1,830
Oberoi Realty has broken above a previous swing high and trades well above its 200-DMA. With RSI in a bullish crossover, the stock shows potential for near-term gains.
Analyst: Rupak De, LKP Securities
Target: Rs 890 / Rs 900
Stop-loss: Rs 760
The stock has broken out of a daily range with strong volume support, forming a bullish candle. The structure of higher highs and higher lows, along with RSI at 72.5, suggests sustained buying interest.
Analyst: Mandar Bhojane, Choice Equity Broking
Target: Rs 190 /Rs 195
Stop-loss: Rs 164
The stock has formed a Cup and Handle pattern and is trading above all major EMAs. RSI is trending upward at 60.68. A close above Rs 175 could trigger a breakout.
Analyst: Mandar Bhojane, Choice Equity Broking
Target: Rs 800 / Rs 820
Stop-loss: Rs 645
JSL is nearing a breakout above a descending trendline. The stock is trading above all key EMAs with RSI at 67. A breakout above Rs 695, backed by volume, could confirm the next leg of uptrend.
Analyst: Mandar Bhojane, Choice Equity Broking
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
