Market Trading Guide: JSW Infra, Havells among 4 stock recommendations for Thursday
, ETMarkets.com|
"Nifty is finding difficulty in overcoming its strong hurdle of 25,100 but on the lower timeframe, it is forming an advanced harmonic pattern known as the Bullish Bat pattern with PRZ (Potential Reversal Zone) being placed at 24,800 which is itself acting as a strong support," said Aditya Gaggar, Director of Progressive Shares.
Here are 4 stock recommendations for Thursday:
Agencies
Stop Loss: Rs 559
JYOTHYLAB has given a breakout of the Ascending triangle pattern and closed above 52 weeks high closing with a spurt in volume indicating a bullish view. The price is trading above major EMAs indicating bullishness, The RSI after cooling off has started moving in the northern direction supporting the price action.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 320
JSWINFRA has demonstrated bullishness with a downward falling trendline breakout on the daily time frame. On the indicator front, the security is positioned above the 20/50 EMAs on an hourly scale, On the momentum front RSI (14) is moving in the northern direction, suggesting that the security has a promising future. Additionally, volume is rising on buy days while decreasing on sell days.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 1,875
The stock has formed a Head and Shoulders pattern on the daily time frame, which is typically viewed as a continuation pattern signaling potential upward movement. Havells is on the verge of breaking out from this pattern, supported by a significant increase in trading volumes.
The Relative Strength Index (RSI) is at 65.94 and trending upward, suggesting increasing buying momentum. Additionally, Havells has rebounded from its key moving averages, including the short-term (20-day) EMA and medium-term (50-day) EMA levels, reinforcing its bullish trajectory.
(Hardik Matalia, Derivative Analyst, Choice Broking)
Agencies
Stop Loss: Rs 2,740
GLAXO remains in a long-term uptrend, consistently forming higher highs and higher lows on the daily timeframe. The stock recently experienced a pullback from higher levels but has reversed from strong support areas, indicating that the bullish trend is likely to continue.
The Relative Strength Index (RSI) is at 53.85 with a positive crossover, signaling increased buying momentum. Additionally, GLAXO has rebounded from its medium-term (50-day) EMA and has surpassed its short-term (20-day) EMA, confirming the strength of the current uptrend.
(Hardik Matalia, Derivative Analyst, Choice 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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