Market Trading Guide: ONGC, Indus Towers among 5 stocks recommendations for Tuesday
, ETMarkets.com|
“The short-term trend of Nifty continues to be weak. The next lower levels to be watched are around 22,000. Immediate resistance is at 22,400 levels.” said Nagaraj Shetti, senior technical research analyst at HDFC Securities.
Here are 5 stock recommendations for Tuesday:
ETMarkets.com
Stop Loss: Rs 2,525
The stock has given a swing high breakout on the weekly chart, indicating an improved interest building up. It has been comfortably positioned above the important moving average. The momentum indicator RSI (14) is experiencing a bullish crossover and is rising at a value of about 65.
(Rupak De, Senior Technical Analyst, LKP Securities)
ANI
Stop Loss: Rs 397
The stock has given a Flag pattern breakout on the daily chart, suggesting a rise in optimism. Besides, its price is trading above a crucial moving average. The 21EMA and 55EMA exhibit a bullish crossover. The RSI signals bullish momentum in the price.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETMarkets.com
Stop Loss: Rs 323
The stock has given a consolidation breakout on the daily chart, indicating an improved interest building up in the stock. It has been comfortably positioned above the critical rising moving average. The momentum indicator RSI (14) is experiencing a bullish crossover and is rising.
(Rupak De, Senior Technical Analyst, LKP Securities)
Agencies
Stop Loss: Rs 2,096
On a daily time frame, TVS Motor has given a breakdown of the Head and Shoulder Pattern. The security has opened a gap down below the neckline and closed near the low, which indicates a strong breakout. The steady volume increase indicates that buyers are interested in the security after breakout. Price is trading Below Fast (50) and Slow (200) EMA, which indicates a downtrend. The slow EMA is trending downward which signals a negative trend. A negative divergence is being formed between price and RSI, which is indicating a pause in trend.
(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 272
ONGC has given a breakout of Symmetric Pattern in the northern direction, indicating an uptrend, with volume supporting the price action. On the average front, the price is trading above the Fast (50) and Slow (200) EMA indicating an uptrend in the security.
The RSI is trading at the higher level, which indicates a bullish trend.
(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
ETMarkets.com
