Market Trading Guide: Allied Blenders among 3 stock recommendations for Friday
1/4
Stock Ideas
Indian equities ended higher on Wednesday despite intraday volatility, as markets shrugged off an intraday surge in crude and focused on signs of strengthening domestic growth momentum. Geopolitical developments at the UN General Assembly kept a risk premium embedded in oil prices, which weighed on the INR amid a firmer US dollar.
Here are 3 stock recommendations for Friday
Here are 3 stock recommendations for Friday
2/4
Texmaco Rail - Buy: 124.7
Stop-loss: Rs 102
Target: Rs 165
Recently, after forming higher bottoms the stock has given a Symmetrical Triangle Breakout supported by volume reaching to a high of 126.65 (SEP 26), which is higher than the previous swing highs of 123.90 (SEP 26). MACD, KST, RSI & Aroon indicators suggest Positive crossover. Target of 165 is expected with lower support levels at (120-116)-(111-107) in case of intermediate fall. A stop loss at 102 is to be followed for the trade.
Bharat K Gala – Head of Technical - Ventura
Target: Rs 165
Recently, after forming higher bottoms the stock has given a Symmetrical Triangle Breakout supported by volume reaching to a high of 126.65 (SEP 26), which is higher than the previous swing highs of 123.90 (SEP 26). MACD, KST, RSI & Aroon indicators suggest Positive crossover. Target of 165 is expected with lower support levels at (120-116)-(111-107) in case of intermediate fall. A stop loss at 102 is to be followed for the trade.
Bharat K Gala – Head of Technical - Ventura
3/4
South Indian Bank - Buy: 50-50.5
Stop-loss: Rs 48
Target: Rs 55
South Indian Bank has executed a symmetrical triangle/wedge breakout on the daily chart, scaling to 49.90 (+5.99%). Price action is holding firmly above all key moving averages (20 EMA at 46.37, 50 EMA at 45.94, 100 EMA at 44.74, and 200 EMA at 42.07), supported by a sharp uptick in volume (57.68M vs 11.91M avg) and an RSI strengthening to 69.04, indicating sustained bullish continuation toward 54.00.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Target: Rs 55
South Indian Bank has executed a symmetrical triangle/wedge breakout on the daily chart, scaling to 49.90 (+5.99%). Price action is holding firmly above all key moving averages (20 EMA at 46.37, 50 EMA at 45.94, 100 EMA at 44.74, and 200 EMA at 42.07), supported by a sharp uptick in volume (57.68M vs 11.91M avg) and an RSI strengthening to 69.04, indicating sustained bullish continuation toward 54.00.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
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4/4
Allied Blenders - Buy: 722-725
Stop-loss: Rs 685
Target: Rs 790
Allied Blenders and Distillers Limited has delivered a strong horizontal resistance breakout on the daily chart, surging to 722.00 (+9.99%). Price action is comfortably holding above key moving averages (20 EMA at 639.50, 50 EMA at 624.53, 100 EMA at 605.25, and 200 EMA at 573.61), backed by massive volume expansion (6.59M vs 1.07M avg) and an RSI reaching 75.96, signalling intense buying momentum toward 780.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
Target: Rs 790
Allied Blenders and Distillers Limited has delivered a strong horizontal resistance breakout on the daily chart, surging to 722.00 (+9.99%). Price action is comfortably holding above key moving averages (20 EMA at 639.50, 50 EMA at 624.53, 100 EMA at 605.25, and 200 EMA at 573.61), backed by massive volume expansion (6.59M vs 1.07M avg) and an RSI reaching 75.96, signalling intense buying momentum toward 780.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.