Market Trading Guide: NMDC among two stock recommendations for Tuesday

Indian benchmark indices ended lower for the fourth consecutive session, with the Nifty slipping below the 23,400 mark on June 1 as persistent FII outflows and geopolitical uncertainties continued to weigh on investor sentiment.

Here are two stocks to buy on Tuesday

NMDC - Buy | CMP: Rs 93

Stop-loss: Rs 87
Target: Rs 105

NMDC is exhibiting a strong bullish structure with a series of higher highs and higher lows on the daily chart. The stock is trading above its key moving averages, which are positively aligned and indicating sustained trend strength. Recent price action shows a breakout from a consolidation zone, supported by a notable increase in volume, reflecting strong buying participation. The medium-term uptrend remains intact, with moving averages acting as dynamic support during pullbacks. RSI is holding above the neutral zone, suggesting positive momentum without excessive overheating. The overall setup favors fresh positional buying, with the stock well-positioned for continuation of the ongoing uptrend in the coming weeks.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

Laurus Labs - Buy | CMP: Rs 1,388
Stop-loss: Rs 1310
Target: Rs 1,580

Laurus Labs continues to exhibit a strong bullish trend, supported by a consistent pattern of higher highs and higher lows. The stock has recently delivered a decisive breakout above a long-term resistance zone and is sustaining near lifetime-high territory, reflecting strong market participation. Price is trading comfortably above key moving averages, which are positively aligned and reinforcing the prevailing uptrend. Volume activity remains healthy, indicating sustained buying interest. RSI is positioned in the bullish zone, highlighting strong momentum, although intermittent consolidation cannot be ruled out. The overall technical setup remains favorable for fresh positional buying, with the breakout structure suggesting potential continuation of the ongoing upward trend over the medium term.

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