Market Trading Guide: DMart, NALCO among 7 stock recommendations for Friday

On a Daily time frame chart, the stock has given a breakout of Cup and Handle Pattern. In addition, the price has been rising with Higher Highs and Higher Lows formation. The daily RSI (14) has been trading above 60 marks & the DMI+ is trading above DMI- suggesting a positive trend. Prices are trading above the Fast(9) and Slow EMA(21), indicating a positive trend.

(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)

On a weekly timeframe, the price has given a breakout of the Falling trend line indicating Bullish strength in the counter. Prices shifted just above the Prior Supply Zone, adding more strength to the price. The RSI (14) has been trading at the 69 mark. On the momentum front, the MACD histogram is hovering in the positive territory with an inclining trajectory which points to a strong momentum.

(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)

Price action in JK Cement shows a steady pattern of higher highs and higher lows. Since the last couple of weeks, the price has traded in a band of Rs 3038–2880. Price is now showing signs of emerging from this barrier. This breakout is a pattern breakout. Price is trying to break out of an ascending triangle pattern. The 50-day moving average is above its 200-day moving average.

(Manish Shah, a SEBI Registered Investment Advisor)

Price action in NTPC shows a resumption of the trend. The price decline from the March 09 high of 181 to the April 18 low of 160 breaks down in three swings, making this an AB=CD pattern. The term trend is up, as the 50-day moving average is above the 200-day moving average.

(Manish Shah, a SEBI Registered Investment Advisor)

The stock has been in a sideways movement for some time, hovering between the range of Rs 77- 84, and now has given a positive bullish candle. There is a gradual and steady upward move in the stock, and from hereon, we anticipate it moving further until the Rs 90 levels.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

The stock has more or less made a double bottom formation on the daily chart taking support near the Rs 945 zone and has shown signs of reversal to improve the bias. The indicators are all favorable, with the RSI indicating a reversal, anticipating a further rise in the coming days.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

Railtel has bottomed out near Rs 96 level after the decent correction and gradually has picked up momentum to improve the bias. Currently, a bullish candle pattern in the daily chart has triggered a buy signal. The RSI is also well placed and is on the rise with potential to carry on the momentum still further upside.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

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