Market Trading Guide: Adani Enterprises, Ircon International among 5 stock recommendations for Monday
, ETMarkets.com|
Here are 5 stock recommendations for Monday:
ETMarkets.com
Stop Loss: Rs 3139
Adani Enterprises price after giving a breakout of a falling channel on the upside gave a retracement towards a breakout level. Buying was seen at the breakout level with an increase in volume indicating buyers' interest in the security. The price is trading above the Fast (50) EMA and Slow (200) EMA, indicating an upward move in the stock. The RSI after cooling off has again moved in the northern direction supporting the price action.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
ANI
Stop Loss: Rs 100
An impulsive move in NHPC was followed by a retracement toward the 0.382 level of Fibonacci, and again regained the move towards an upward direction closing above 1 year 7 week close indicating buyers overpowering the sellers. Furthermore, trading above the Ichimoku Cloud indicates a bullish sentiment in security. The Relative Strength Index (RSI) is trading in a higher zone indicating an upward trend in the security.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 290
The stock has experienced a consolidation breakout on the daily chart, indicating a potential shift in momentum. Additionally, it is currently sustaining above the critical moving average, the 21EMA, suggesting bullish sentiment. Moreover, the Relative Strength Index (RSI) is on the verge of entering a bullish crossover, further supporting the outlook for upward movement.
(Rupak De, Senior Technical Analyst, LKP Securities)
IANS
Stop Loss: Rs 262
The stock has undergone consolidation following a rally on the daily chart, suggesting a period of price stabilization. It is currently maintaining above the critical moving average, the 21EMA, indicating potential bullish sentiment. Moreover, on the hourly chart, the Relative Strength Index (RSI) has entered a bullish crossover, further supporting the possibility of upward movement in the short term.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETMarkets.com
Stop Loss: Rs 1039
The stock has undergone a two to three-day consolidation period and has maintained its position above the critical moving average, confirming a bullish trend. Additionally, the daily Relative Strength Index (RSI) is showing a bullish crossover, indicating increasing momentum and potential for further upward movement.
(Rupak De, Senior Technical Analyst, LKP Securities)
(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of The Economic Times)
Agencies
