Market Trading Guide: Tata Motors, JSW Infra among 5 stock recommendations for Tuesday
1/6
Stock Ideas
Indian headline equity indices hit record highs for the third straight session on Monday, led by auto and banking stocks. The S&P BSE Sensex closed 0.45% higher at 84,928, while the NSE Nifty50 ended above the 25,900 mark.
"The short-term trend of Nifty continues to be positive. Nifty is now heading towards the upside target of 26250 (1.618% Fibonacci Extension) in the near term. Immediate support is at 25750," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Here are 5 stock recommendations for Tuesday:
"The short-term trend of Nifty continues to be positive. Nifty is now heading towards the upside target of 26250 (1.618% Fibonacci Extension) in the near term. Immediate support is at 25750," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Here are 5 stock recommendations for Tuesday:
2/6
Buy SignatureGlobal India at Rs 1,575-1,580
Target Price: Rs 1,740
Stop Loss: Rs 1,500
SignatureGlobal India recently broke out of a rectangle pattern on the daily chart, signaling a potential upward trend. The increase in trading volume during the last session reflects rising buying interest, reinforcing the positive outlook. The stock is trading above its EMAs, which supports the bullish trend. The Relative Strength Index (RSI) has also broken out of its downward trendline, further confirming the stock’s upward momentum.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
Stop Loss: Rs 1,500
SignatureGlobal India recently broke out of a rectangle pattern on the daily chart, signaling a potential upward trend. The increase in trading volume during the last session reflects rising buying interest, reinforcing the positive outlook. The stock is trading above its EMAs, which supports the bullish trend. The Relative Strength Index (RSI) has also broken out of its downward trendline, further confirming the stock’s upward momentum.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
3/6
Buy Bosch at Rs 36,450-36,475
Target Price: Rs 39,300
Stop Loss: Rs 35,050
Bosch Ltd recently made an impressive move, breaking out from a rounding bottom pattern on its daily chart. The rise in trading volume during the last session highlights increased buying interest, reinforcing the positive outlook. The stock is also trading above its EMAs, aligning with the bullish trend. This momentum is further validated by the fact that Bosch Ltd is now trading comfortably above its exponential moving averages (EMAs), which often acts as a green light for a bullish trend.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
Stop Loss: Rs 35,050
Bosch Ltd recently made an impressive move, breaking out from a rounding bottom pattern on its daily chart. The rise in trading volume during the last session highlights increased buying interest, reinforcing the positive outlook. The stock is also trading above its EMAs, aligning with the bullish trend. This momentum is further validated by the fact that Bosch Ltd is now trading comfortably above its exponential moving averages (EMAs), which often acts as a green light for a bullish trend.
(Virat Jagad, Technical Analyst, Bonanza Portfolio)
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4/6
Buy JSW Infra at Rs 344
Target Price: Rs 363
Stop Loss: Rs 333
The stock has broken out of a consolidation phase following a falling trendline breakout on the daily timeframe. The RSI, with its positive crossover, indicates bullish momentum in the short term. The trend remains positive, as the stock continues to trade above the key moving average.
(Rupak De, Senior Technical Analyst, LKP Securities)
Stop Loss: Rs 333
The stock has broken out of a consolidation phase following a falling trendline breakout on the daily timeframe. The RSI, with its positive crossover, indicates bullish momentum in the short term. The trend remains positive, as the stock continues to trade above the key moving average.
(Rupak De, Senior Technical Analyst, LKP Securities)
5/6
Buy Tata Power at Rs 455
Target Price: Rs 475
Stop Loss: Rs 444
The stock has broken out of consolidation on the daily timeframe, with the trend remaining bullish as it stays above a key moving average. The RSI, with its positive crossover, suggests bullish momentum in the short term.
(Rupak De, Senior Technical Analyst, LKP Securities)
Stop Loss: Rs 444
The stock has broken out of consolidation on the daily timeframe, with the trend remaining bullish as it stays above a key moving average. The RSI, with its positive crossover, suggests bullish momentum in the short term.
(Rupak De, Senior Technical Analyst, LKP Securities)
6/6
Buy Tata Motors at Rs 972
Target Price: Rs 1,015
Stop Loss: Rs 948
The stock has found initial support at the 200-DMA, which may act as a line of polarity in the short term. The RSI has entered a bullish crossover, signaling the potential for recovery as long as the stock stays above 950.
(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 the Economic Times)
Stop Loss: Rs 948
The stock has found initial support at the 200-DMA, which may act as a line of polarity in the short term. The RSI has entered a bullish crossover, signaling the potential for recovery as long as the stock stays above 950.
(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 the Economic Times)