Market Trading Guide: Tata Consumer Products, BHEL among 4 top stock recommendations for Thursday

Benchmark BSE Sensex breached the historic 80K level intraday for the first time while Nifty raced over 162 points to close at a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends.

The 30-share closed at 79,987, up by 545 points over the last close.

The Nifty climbed 162.65 points or 0.67 per cent to end at an all-time high of 24,286.50.

"We are of the view that, as long as the index is trading above 24,200/79,600, the bullish structure is likely to continue. Above the same, the market could rally up to 24,400/80,200. Further upside may also continue, which could lift the index up to 24,500/80,500. However, below 24,200/79,600 the texture could change. Below the same, traders may prefer to exit out from the trading long positions," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Here are 4 stock recommendations for Thursday:

The stock has recently breakout of range on the daily chart with a significant increase in trading volume. If the price manages to close above the Rs 304 level, it may have the potential to reach short-term targets of Rs 387 and Rs 400. On the other hand, immediate support levels are located at Rs 270.

(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)

The stock has been recently ready for breakout of daily range with a significant increase in trading volume. If the price manages to close above the Rs 320 level, it may have the potential to reach short-term targets of Rs 370 and Rs 400

(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)

The stock has recently broken out of the Falling Wedge pattern on the daily chart with a significant increase in trading volume. If the price manages to close above the Rs 1,150 level, it may have the potential to reach short-term targets of Rs 1,220 and Rs 1,270.

(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)

The stock has moved above previous consolidation, suggesting improved interest. Besides, it has sustained above critical moving average. The RSI is in bullish crossover and rising. Additionally, the stock price has been rising with an increase in volume back up.

(Rupak De, Senior Technical Analyst, LKP Securities)

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