Trading Guide: HG Infra among 3 stock recommendations for Wednesday
, ETMarkets.com|
“Nifty remained volatile throughout the day before closing on a strong note. On the daily chart, the benchmark Nifty has given a falling wedge breakout, suggesting a rise in optimism. The RSI momentum indicator has indicated a falling trendline breakout. The current technical setup suggests near-term strength, which may take Nifty towards 18,250–18,270. On the lower end, support is visible at 17,850,”said Rupak De, Senior Technical Analyst at LKP Securities.
Here are stock recommendations for Wednesday:
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The 200 EMA is at around Rs 585 and the stock is seen to be comfortably trading above it. The momentum oscillator RSI (14) is at around 65 on the daily timeframe showing strength by sustaining above 50. Observation of the above factors indicates that a bullish move is possible in the counter for targets up to Rs 735. One can initiate ‘buy on dip’ in the range of Rs 681-684 with stop loss below Rs 640 on daily closing basis.
(Mitesh Karwa,Research Analyst, Bonanza Portfolio)
ETtech
Observation of the above factors indicates that a bullish move in the stock is possible for targets up to Rs 1,520. One can initiate a ‘buy’ trade in between Rs 1,418 and 1421 with stop loss below Rs 1,350 on daily closing basis.
(Mitesh Karwa,Research Analyst, Bonanza Portfolio)
ETMarkets.com
(Amit Trivedi, CMT, Technical Analyst - Institutional Equities, Yes 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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