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    Market Trading Guide: ICICI Bank, Mphasis among 5 stock recommendations for Monday

    By
    , ETMarkets.com|
    Stock Ideas
    1/6

    Stock Ideas

    Indian benchmark equity indices came off record highs to end lower on Friday, on broad-based profit booking ahead of the national budget. The S&P BSE Sensex closed 0.91% lower at 80,604, while the NSE Nifty50 index ended below the 24,550 level."The short-term trend of Nifty seems to have reversed from the all-time highs. The formation of candle pattern as per daily and weekly indicates possibility of more weakness in the market ahead. The next lower supports to be watched around 24200 and 24000 levels. Immediate resistance is at 24850 levels," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.Here are 5 stock recommendations for Monday:
    "The short term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further upmove above 24,400 levels. A sustainable move above the key hurdle of 24,400 levels could open a sharp upmove for the market ahead," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

    Here are 5 stock recommendations for Tuesday:

    Agencies
    Buy Jindal Worldwide at Rs 378-379
    2/6

    Buy Jindal Worldwide at Rs 378-379

    Target Price: Rs 396
    Stop Loss: Rs 368

    JINDWORLD is seen to be breaking a resistance zone on the daily timeframe and closing with a bullish candlestick which indicates strength. Momentum oscillator RSI (14) is at around 67 on the daily time 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
    Buy Kajaria Ceramics at Rs 1372-1373
    3/6

    Buy Kajaria Ceramics at Rs 1372-1373

    Target Price: Rs 1414
    Stop Loss: Rs 1350

    KAJARIACER is seen retesting a breakout after breaking out of a channel pattern on the daily timeframe with a bullish candlestick which indicates strength. Momentum oscillator RSI (14) is at around 56 on the weekly time and is showing strength by sustaining above 50 and the stock is seen to be trading above its 200 and 100 EMAs.

    (Mitesh Karwa, Research Analyst, Bonanza Portfolio)

    iStock
    Buy ICICI Bank at Rs 1250
    4/6

    Buy ICICI Bank at Rs 1250

    Target Price: Rs 1330-1240
    Stop Loss: Rs 1200

    The stock has recently ready for breakout of range on the daily chart with a significant increase in trading volume, indicating a potential
    breakout. The Relative Strength Index (RSI) currently stands at 66.62 and is trending upward, indicating increasing buying momentum.

    (Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)

    Agencies
    Buy LIC at Rs 1108
    5/6

    Buy LIC at Rs 1108

    Target Price: Rs 1250-1330
    Stop Loss: Rs 1000

    The stock has recently breakout of range on the daily chart with a significant increase in trading volume, indicating a potential breakout. The Relative Strength Index (RSI) currently stands at 70.4 and is trending upward, indicating increasing buying momentum.

    (Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)

    Agencies
    Buy Mphasis at Rs 2873
    6/6

    Buy Mphasis at Rs 2873

    Target Price: Rs 3390-3500Stop Loss: Rs 2500The stock has recently breakout of the cup and handle pattern on the weekly chart with a significant increase in trading volume, indicating apotential breakout. The Relative Strength Index (RSI) currently stands at 67.3 and is trending upward, indicating increasing buying momentum.(Mandar Bhojane, Equity Research Analyst, Choice Equity Broking)(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)

    Agencies
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