Market Trading Guide: Buy Triveni Engineering and Authum on Friday for gains up to 23%

Nifty extended its winning momentum on Wednesday as bulls remained in top form for the second session in a row. Action in banks, auto and consumer stocks lifted the market mood. The RSI on the daily chart is in a bullish crossover with a positive divergence.

Rupak De, Senior Technical Analyst at LKP Securities said Nifty witnessed another day of meaningful recovery as the Middle East conflict eased. On the higher end, it found initial resistance at the previous congestion zone, he said. "In the short term, the trend may remain positive as long as it stays above 23,000, where immediate crucial support is placed. On the higher end, a decisive move above 23,500 may trigger the next leg of the rally, which could extend towards 24,000/24,500. However, failure to reclaim 23,500 might attract the bears again in the market," De said.

Stock markets were closed on Thursday on account of Shri Ram Navami.


Here are 2 stock recommendations for Friday:

Buy Triveni Engineering at Rs 407 | Upside: 18%
Stop Loss: Rs 360
Target: Rs 450/480

The structure for Triveni Engineering and Industries Limited is turning bullish after a strong rebound from the Rs 320–Rs 330 demand zone, accompanied by a sharp volume expansion and a bullish candle, indicating renewed buying interest. The stock is now approaching a key descending trendline resistance near Rs 410 – Rs 420, and a sustained breakout above this zone can trigger a fresh upward move. Momentum indicators like RSI are also recovering, supporting the bullish bias. Traders can consider a buy above Rs 415 or on dips towards Rs 390 with a stop-loss at Rs 360, while upside targets are Rs 450 followed by Rs 480 if the breakout sustains with strong participation.

(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

Buy Authum Investment at Rs 527 | Upside: 23%
Stop Loss: Rs 470
Target: Rs 600/650

The structure for Authum Investment & Infrastructure Limited is showing early signs of recovery after a sharp correction, with the stock rebounding from the Rs 400 zone and now attempting to reclaim key moving averages near Rs 525 – Rs 540. The recent bounce supported by improving RSI indicates strengthening momentum, but the stock is still trading below its major resistance zone, suggesting a cautious bullish bias. A sustained move above Rs 540 – Rs 550 would confirm trend reversal. Traders can consider a buy above Rs 545 or on dips towards Rs 510 with a stop-loss at Rs 470, while upside targets are Rs 600 followed by Rs 650 if momentum sustains.

(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)