Market Trading Guide: IRCTC among 4 stock recommendations for Thursday
, ETMarkets.com|
“The undertone remains bullish and once the index breaks above 18,200 it will witness a sharp short covering on the upside towards the 18,500-18,800 levels. The lower-end support stands at the 17,950-17,800 zone, which will act as a cushion on the downside,” Kunal Shah, Senior Technical Analyst at LKP Securities, said.
Here are 4 stock recommendations for Thursday:
iStock
Stop Loss: Rs 126
On a daily chart, SCI is classically moving in a well-channelized manner. The price has respected the channel’s upper and lower trend line every time it has touched. The price is trading above the 21-day exponential moving average, which indicates a positive trend. In addition, the technical Ichimoku cloud suggests that the price is trading above the conversion line and baseline, which shows a positive trend in the counter.
(Vishal Wagh, Research Head, Bonanza Portfolio)
iStock
Stop Loss: Rs 3,095
On the daily chart, after a strong bullish move, ABB has now consolidated just below the prior supply zone, indicating a bullish move possible in the counter. The price is trading above the 50-day exponential moving average, which indicates a positive trend. In addition, the technical Ichimoku cloud suggests that the price is trading above the conversion line and baseline, which shows a positive trend in the counter.
(Vishal Wagh, Research Head, Bonanza Portfolio)
Agencies
Stop Loss: Rs 1,800
Bata India, after a recent correction, is showing signs of a trend reversal on the daily chart. The stock has completed its down move and has given a fresh breakout on the daily chart with rising volumes. The lower-end support is visible at the 1,820-1,800 zone and the upside visible targets are 1,900-1,920.
(Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities)
TOI.in
Stop Loss: Rs 730
The stock has given a consolidation breakout on the daily chart with rising volumes confirming the breakout in the stock. Momentum oscillator RSI has given a positive crossover on the daily chart, which confirms the buy signal as well. The lower base of 730 will act as a cushion and the upside visible targets are 785.
(Kunal Shah, Senior Technical & Derivative 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)
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