Market Trading Guide: Hindustan Copper, Federal Bank among 5 stock recommendations for Monday

Indian markets ended with strong gains on Friday aided by buying action in IT and FMCG stocks. The index has moved higher after finding support at the 21-day EMA and broadly speaking, the Nifty appears to be consolidating within the range of 24,700–25,000.

Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities, said that the short-term trend remains positive, with momentum likely to strengthen above 25,000. “A decisive breakout above this level could give the bulls an upper hand and potentially trigger a rally towards 25,250–25,350. On the downside, the index has support at 24,700; a break below this level could attract bearish bets," De said

Here are 5 stock recommendations for Monday:

Stop Loss: Rs 199.50

Target: Rs 213
On the daily timeframe, Godawari Power & Ispat Ltd (GPIL) is forming an ascending triangle chart pattern and is currently approaching a crucial breakout level. In the latest session, the stock closed with a strong bullish candlestick, indicating rising buying interest. Additionally, GPIL is trading above its 20-day, 50-day, 100-day, and 200-day EMAs, confirming a sustained bullish trend. Momentum also supports the bullish view, with the RSI at 59.66 and trending upward, suggesting strengthening positive sentiment.

(Wahid Ansari, Technical Research Analyst at Bonanza)

Stop Loss: Rs 327.50
Target: Rs 353.50

On the daily timeframe, IndoStar Capital Finance Ltd (INDOSTAR) is forming a rising wedge chart pattern and is currently trading near a potential breakout zone. In the latest session, the stock closed with a bullish candlestick, supported by strong buying interest. Technically, INDOSTAR is trading above its 20-day, 50-day, 100-day, and 200-day EMAs, indicating a sustained uptrend. The RSI stands at 63.59 and is trending upward, reflecting continued bullish momentum in the stock.

(Wahid Ansari, Technical Research Analyst at Bonanza)

Target: Rs 215
Stop Loss: Rs 197
The stock has moved above the falling trendline on the daily chart, indicating growing optimism. Moreover, the trend remains strong as the price is trading comfortably above key moving averages. Additionally, the RSI has formed a bullish crossover and is trending higher. In the short term, the stock is likely to maintain its strength, with potential to move towards 215, while support is placed at 197.

(Rupak De, Senior Technical Analyst at LKP Securities)

Target: Rs 2,300
Stop Loss: Rs 2,100

The Aditya Birla Real Estate stock has broken out of its previous consolidation on the daily chart, indicating increased optimism. Moreover, the trend remains strong, with the price trading comfortably above key moving averages. Additionally, the RSI has formed a bullish crossover, reinforcing the positive momentum. In the short term, the stock is likely to remain strong, with potential to move towards 2,300, while support is placed at 2,100.

(Rupak De, Senior Technical Analyst at LKP Securities)

Target: Rs 255
Stop Loss: Rs 229

The stock has broken out of the flag pattern on the daily chart, indicating increased optimism. Moreover, the trend remains strong, with the price trading above key moving averages. Additionally, the RSI has formed a bullish crossover and rising, reinforcing the positive momentum. In the short term, the stock is likely to remain strong, with potential to move towards 255, while support is placed at 229.
(Rupak De, Senior Technical Analyst at LKP Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)