Nifty18,101.20241.75

Market Trading Guide: Laurus Labs among 2 stock recommendations for Tuesday

, ETMarkets.com|

09 Jan 2023, 08:50 PM IST

1/3

Stock ideas

After posting losses for the last three sessions, equity indices gained their mojo back on Monday. Nifty settled 1.35% higher at 18,101. There were broad-based gains, with all the Nifty sectoral indices ending in the green.

“The market will react to TCS numbers in early trade. Besides, the performance of global indices will also be in focus. On the index front, a decisive close above 18,260 levels in Nifty may result in further recovery, else the decline would resume. Meanwhile, we recommend continuing with a stock-specific trading approach with a focus on risk management,”Ajit Mishra, VP - Technical Research, Religare Broking, said.

Here are 2 stock recommendations for Tuesday:

Agencies

2/3

Laurus Labs: Buy near Rs 378 | Target: Rs 400 | Stop Loss: Rs 368

The stock has been in a corrective mode for a long time. In the short-term time frame, the stock has entered an oversold zone. At this point in time; it is hovering near the placement of 200 week EMA. Also we are witnessing positive divergence in daily RSI, which makes risk reward very lucrative to go long.

(Mehul Kothari, AVP- Technical Research, Anand Rathi)

ET Bureau & Agencies

3/3

RateGain Travel Technologies: Buy above Rs 310 | Target: Rs 330 | Stop Loss: Rs 299

After several attempts, the stock has managed to reclaim its long-term moving average. At this juncture, it is on the verge of a trend line breakout that will get confirmed above Rs 310. We expect sharp upside momentum once the stock sustains above Rs 310 mark.

(Mehul Kothari, AVP- Technical Research, Anand Rathi)

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

Agencies

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RateGain Travel Technologies

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Market Trading Guide: Laurus Labs among 2 stock recommendations for Tuesday

Stock ideas

Laurus Labs: Buy near Rs 378 | Target: Rs 400 | Stop Loss: Rs 368

RateGain Travel Technologies: Buy above Rs 310 | Target: Rs 330 | Stop Loss: Rs 299

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