Market Trading Guide: ITC, Voltas, Data Patterns among 6 top stock recommendations for Friday
, ETMarkets.com|
"The underlying trend of Nifty remains choppy with positive bias. A sustainable move above 24,500 levels is expected to open the next upside targets of 24,900 levels in the near term. Immediate support is at 24,150," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Here are 6 stock recommendations for Friday:
ETMarkets.com
Stop Loss: Rs 439
GNA is seen to break out of a bullish formation on the daily timeframe with a bullish candlestick, which indicates strength. Momentum oscillator RSI (14) is at around 72 on the daily time frame and is showing strength by sustaining above 50 and the stock is seen to be trading above all its important EMAs.
(Mitesh Karwa, Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 450
ITC is seen to break out of a bullish formation on the weekly timeframe with a bullish candlestick, which indicates strength. Momentum oscillator RSI (14) is at around 73 on the daily timeframe and is showing strength by sustaining above 50 DMA. The stock is seen to be trading above all its important EMAs.
(Mitesh Karwa, Research Analyst, Bonanza Portfolio)
Agencies
Stop Loss: Rs 2,190
Forming large bullish weekly candles on higher volumes, the stock has managed to surpass its peak of the year 2018, with stability to push its prices further higher till 2,500.
(Amit Trivedi, Technical Analyst - Institutional Equities, YES SECURITIES)
ETMarkets.com
Stop Loss: Rs 1,435
The stock has witnessed a strong bull run in the last 6 to 7 months and is currently maintaining the strong uptrend. It has once indicated a higher low formation on the daily chart. A decent pullback has improved the bias to anticipate further rise in the coming days. The RSI has cooled off from the overbought zone and is currently well placed, indicating a trend reversal to signal a buy. With the strength indicated, it can carry on with the positive move further ahead.
(Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher)
Team ProductLine
Stop Loss: Rs 3,150
The stock has maintained the strong uptrend and with a series of higher low and higher top formations, it has been making new highs. Further rise is anticipated. Recently, after a short period of correction, once again a pullback with a positive candle formation has been witnessed to improve the bias. With the RSI indicating strength, it can carry on with the positive move further ahead.
(Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher)
ETMarkets.com
Stop Loss: Rs 47
The stock has witnessed a decent spurt recently moving past the important 200 period MA of 47 zone and after a short correction, it has once regained strength to indicate a higher low formation pattern on the daily chart, taking support near 47.50 zone. It has witnessed a pullback with decent volume participation to improve the bias. Further rise is anticipated. The RSI has cooled off from the highly overbought zone and has once again regained strength, indicating a trend reversal to signal a buy. It has potential to carry on with the positive move further ahead.
(Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Reuters
