Intraday Stock Recommendations
Intraday Stock Recommendations:
The Indian stock market continues to show signs of weakness, with the Nifty-50 index closing 0.63% lower at 25,062.10 on Thursday. The Bank Nifty closed at 57,066.05, down 0.25%. The IT and Realty sectors faced significant losses. Pharma and Healthcare stocks recorded gains. Mid and small cap stocks ended lower with losses between 0.58% and 1.09%.
For the short term, immediate support for the Nifty is seen at 24,882, with a critical resistance at 25,255. Experts recommend a cautious approach unless the Nifty crosses the 25,255 mark decisively.
The Bank Nifty may find support in the 56,000–55,700 range. This level suggests potential short-term trading opportunities.
Nandish Shah, Deputy Vice President at HDFC Securities, suggests traders should adopt a watchful stance, given the current market conditions. The market’s immediate movements will depend on how these key support and resistance levels play out.
Thursday’s market session reflected a cautious sentiment globally. Strong domestic earnings from banking stocks boosted sentiment.
The market’s overall performance declined due to weak IT sector results.
Global trade uncertainties created more pressure.
Investors are watching trade deal developments and tech earnings.
These factors will influence market sentiment in the coming days.Vikram Kasat, Head of Advisory at PL Capital, highlighted that the market would require clearer signals from global trade discussions and tech fundamentals to regain bullish momentum.
Several experts have provided their stock picks for intraday trading today, with recommendations across a range of sectors:
1. Eternal Ltd (₹313.15)
Target Price: ₹336
Stop Loss: ₹302
Eternal Ltd has seen a bullish breakout, with the stock recently reaching new all-time highs. The consistent upward trend suggests that the stock could continue its positive momentum.
2. Fortis Healthcare Ltd (₹846.55)
Target Price: ₹906
Stop Loss: ₹817
Fortis is exhibiting signs of recovery with a consistent upward pattern. Recent bullish candlesticks indicate further potential for gains.
3. Glenmark Pharmaceuticals Ltd (₹2143)
Target Price: ₹2200
Stop Loss: ₹2100
Glenmark continues to show strength with a positive price pattern. The stock’s strong support levels make it a promising short-term buy.
4. TVS Motor Company Ltd (₹2800)
Target Price: ₹2885
Stop Loss: ₹2760
TVS Motor has maintained strong bullish momentum, with support at ₹2760. A positive outlook suggests that the stock could reach ₹2885 in the short term.
5. Tata Chemicals Ltd (₹948)
Target Price: ₹985
Stop Loss: ₹930
Tata Chemicals is riding a solid bullish trend, and its price structure supports further upside potential. A target of ₹985 seems achievable in the short term.
6. Zydus Wellness Ltd (₹2138)
Target Price: ₹2220
Stop Loss: ₹2100
The stock is in an upward trend, with strong volume participation. The technical setup supports a buy position, with a target price of ₹2220.
7. Surya Roshni Ltd (₹347)
Target Price: ₹365
Stop Loss: ₹338
The stock has shown a sharp increase in the last few sessions, suggesting a positive trend reversal. The target price of ₹365 indicates a favorable upside.
8. Welspun Living Ltd (₹141)
Target Price: ₹152
Stop Loss: ₹137
After a period of consolidation, Welspun Living shows signs of a bullish breakout, making it an attractive buy.
Disclaimer
The stock recommendations above are provided by individual analysts or brokerage firms and are based on technical analysis. Investors should verify recommendations with certified experts.
Investors must perform due diligence before making investment decisions.
Research is essential when trading in the stock market.Well-informed decisions help reduce risk.
Also Read:5 Ways to Secure a Personal Loan Without Credit Score
Share
Are Soaked Almonds Really Healthier? Here Are Benefits and Drawbacks
Sundar Pichai Joins Billionaire Club After 10 Yrs as Alphabet CEO
