Market Trading Guide: Tata Motors among 7 stock recommendations for Friday
, ETMarkets.com|
“Following Tuesday’s rally, Nifty opened with an upward gap, but after marking a high at 17,429, Nifty largely traded beneath levels of 17,400 and closed near the day’s low. Today’s throwback indicates an immediate hurdle near the 17,400-17,500 zone. Inability to hold current levels could drag the index till the 17,200-17,150 zone,” said Amit Trivedi, Technical Analyst - Institutional Equities at Yes Securities.
Here are 7 stock recommendations for Friday:
iStock
Target Price: Rs 104
Stop Loss: Rs 94.5
After losing 17% from the recent peak, the counter found renewed buying interest. Positive follow-up action is likely to lift the stock to Rs 104 zone.
(Amit Trivedi, Technical Analyst - Institutional Equities, Yes Securities)
Agencies
Target Price: Rs 1,750
Stop Loss: Rs 1,875
The counter remains below its near-term averages, moreover, the intraday rally stalled near the 1,850 zone. Negative follow-up action could drag the stock to Rs 1,750 zone.
(Amit Trivedi, Technical Analyst - Institutional Equities, Yes Securities)
Agencies
Target Price: Rs 4,200
Stop Loss: Rs 3,914
On a four-hourly chart, the stock has been rising continuously in a Broadening wedge pattern. In addition, the stock has also been trading above the 50 exponential moving averages & Ichimoku cloud, which shows a bullish presence. Moreover, the indicator RSI (14) also crosses 70 marks, supporting rising strength.
(Vishal Wagh, Research Head, Bonanza Portfolio)
Agencies
Target Price: Rs 4,280
Stop Loss: Rs 3,920
On the daily chart, the stock has given an upside breakout of the bullish channel and reclaimed the upper band of the channel, and sustained above the same can suggest a northward journey in the counter. Moreover, a momentum indicator RSI (14) reading is above 70 levels, which suggests a bullish move for the short to mid-term.
(Vishal Wagh, Research Head, Bonanza Portfolio)
Agencies
Target Price: Rs 500
Stop Loss: Rs 410
The stock has almost made a double bottom formation pattern on the daily chart, taking support near 410 levels and picked up momentum with a decent pullback, indicating improved bias with a series of positive candle patterns. The RSI also has shown a trend reversal from the oversold zone to signal a buy and is anticipated to rise further in the coming days.
(Prabhudas Lilladher)
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(Prabhudas Lilladher)
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(Prabhudas Lilladher)
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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