Market Trading Guide: Tata Steel, Kotak Mahindra Bank among 8 stock recommendations for Monday
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"In the near term, Nifty may continue consolidating within the 24300-24550 range. Only a decisive move above 24550 could trigger a directional up move in the index. A buy-on-dips strategy may be more effective unless Nifty decisively falls below 24300," said Rupak De of LKP Securities.
Here are 8 stock recommendations for Monday:
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Stop Loss: Rs 663
Nippon Life India Asset Management has rallied from the lower levels, additionally, it has experienced a breakout along with expansion in volume activity on the daily scale, The RSI currently stands at 61 and is gradually moving upward indicating increasing buying momentum, Price has found support at the 20 Exponential Moving Average (EMA), highlighting a strong level of support area.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 500
The stock has given a swing high breakout on the weekly chart, suggesting a rise in optimism. The weekly RSI is in bullish crossover with an indication of strong price momentum. Over the short term, the trend might take the stock towards 570. Support on the lower end is placed at 500.
(Rupak De, Senior Technical Analyst, LKP Securities)
Agencies
Stop Loss: Rs 1,069
The stock has given a consolidation breakout on the daily chart, suggesting a rise in optimism. The daily RSI has entered a bullish crossover with an indication of improving strength in price momentum. Over the short term, the trend might take the stock towards 1160. Support on the lower end is placed at 1069.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETMarkets.com
Stop Loss: Rs 1,974
The stock has moved above the recent consolidation on the daily chart, suggesting a rise in optimism. The daily RSI has entered a bullish crossover with an indication of improving strength in price momentum. Over the short term, the trend might take the stock towards 2200. Support on the lower end is placed at 1974.
(Rupak De, Senior Technical Analyst, LKP Securities)
Agencies
Stop Loss: Rs 805
DLF has been consolidating in a tight range above the 200-day SMA for the last few weeks. On Friday, the stock has broken out of its recent trading range and also closed above the 20-day and 50-day SMA.
Momentum indicators like the 14-day RSI are in rising mode now after bouncing back from oversold levels. The realty index too is showing strength, which augurs well for DLF stock.
(Subash Gangadharan, Senior Technical/Derivative Analyst, HDFC Securities)
Agencies
Stop Loss: Rs 145
Tata Steel has rebounded off key support near Rs 145, with volume spikes indicating renewed buying interest. With favorable momentum in the metals sector, the stock is poised for a potential rise to Rs 157.50. A buy recommendation at Rs 149.52 is supported by a stop loss at Rs 145 to limit downside exposure.
(Riyank Arora, Technical Analyst, Mehta Equities)
Reuters
Stop Loss: Rs 1,740
Kotak Bank has sustained its position above critical support at Rs 1740, accompanied by steady volume growth. Given the improving sentiment in the banking sector, the stock is expected to approach its target of Rs 1825. Entry is advised at Rs 1777.30 with a stop loss of Rs 1740.
(Riyank Arora, Technical Analyst, Mehta Equities)
IANS
Stop Loss: Rs 9,690
Bajaj Auto has shown strength, breaking out of a triangular consolidation pattern, with trendline support established at Rs 9690. The breakout suggests further upside potential, making a target of Rs 10,100 achievable. A buy at Rs 9888.15 is recommended, with a stop loss at Rs 9690 to safeguard against volatility.
(Riyank Arora, Technical Analyst, Mehta Equities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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