Market Trading Guide: Bank of Baroda, Indus Towers among 7 stock recommendations for Tuesday

Based on the current technical analysis, Nava appears to have formed a bullish pennant pattern on the daily timeframe. This pattern suggests a continuation of the positive trend. The recent breakout on the upside, accompanied by strong volume, further supports this notion.

Furthermore, Nava's price is currently trading above key indicators such as the Base Line, Conversion Line, and Cloud — indicating a positive trend in the market. In addition to these indicators, the momentum indicator, RSI, has also given a breakout of a Double Bottom Pattern, which further confirms the potential for an upward move.

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

Following a notable decline in the stock, an interesting development is observed in the form of a divergence between the price and the momentum indicator, specifically the Relative Strength Index (RSI). This divergence indicates that the downtrend may be losing strength or potentially approaching its conclusion within a shorter time frame.

Furthermore, the security has recently closed above the previous four-day close, which signifies a breakout from the recent downward movement. This breakout suggests a potential shift in the market sentiment towards a more positive outlook.

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

The stock has recently experienced a breakout on the daily chart, accompanied by a sharp surge in trading volumes. This breakout suggests a potential change in the stock's price trend. Additionally, the stock has surpassed its previous 10-day high, indicating increasing upward momentum and strength in its price movement.The momentum indicator RSI has also shown a positive crossover, further confirming the bullish sentiment surrounding

(Kunal Shah, Senior Technical and Derivative analyst at LKP Securities)

The stock experienced an upward movement after forming a bullish harami pattern on the daily chart. It found support at the 21-day Exponential Moving Average (EMA), indicating potential buying interest. The Relative Strength Index (RSI) is displaying a bullish crossover, suggesting further upside potential.

(Kunal Shah, Senior Technical and Derivative analyst at LKP Securities)

The banking major is trading in an ascending triangle pattern and nearing the breakout zone of the said pattern. The positive momentum is intact in the stock with parameters like MACD & Relative strength against Nifty50 supportive for further up move. We recommend ‘buy’ the stock for Rs 1724 and Rs 1760 with immediate support around the Rs 1660 level.

(Riches Vanara, Technical And Derivatives Analyst, Stoxbox)

Stock broke out of its resistance zone of Rs 1650 and Rs 1680 but the breakout has failed with a gap down open and close below the breakout zone mentioned. The daily volume has been way above the average daily volume. Hence we feel now the zone of Rs 1650-1680 will act as resistance and one can initiate sell on the counter for targets of 1540 and 1500.

(Riches Vanara, Technical And Derivatives Analyst, Stoxbox)

Stock breaking out from its ascending channel pattern and again retesting the break out zone saw a fair amount of buying interest. The momentum indicator is also supportive of the bullish price action. Also, the stock is trading at a good buying juncture. We reckon to buy for targets of Rs 823 and Rs 854. The immediate support is placed around Rs 782 and Rs 770 levels.

(Riches Vanara, Technical And Derivatives Analyst, Stoxbox)

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