Two stocks recommended by MarketSmith India
Sundaram Finance Ltd: Current market price: ₹ 4,689.70 | Buy range: ₹ 4,600-4,720 | Profit goal: ₹ 5,570 | Stop loss: ₹ 4,280 | Timeframe: 2–3 months
Narayana Hrudayalaya Ltd: Current market price: ₹ 1,367.80 | Buy range: ₹ 1,340-1,380 | Profit goal: ₹ 1,630 | Stop loss: ₹ 1,250 | Timeframe: 2–3 weeks
Three stocks recommended by NeoTrader’s Raja Venkatraman
TIMETECHNO: Buy above ₹410 | Stop: ₹397 | Target: ₹450
This counter from the packaging industry has been consolidating after the recent decline and footing and the steady rise in prices on Tuesday is seen in action. The rise in the prices of this counter has been quite steady and the recent market correction did not take much sheen from the prices. With robust momentum building up we can look at the whole setup heading higher once again, consider going long.
Also read | As BSE navigates regulatory shifts, does its valuation leave room for an upside?
PTC: Buy above ₹481 | Stop: ₹466 | Target: ₹510
Post a sharp fall, the stock’s prices are seen holding out the bearish tones and the momentum readings are indicating a positive divergence that could help the prices rebound for a while. With MA Bands further away one could consider a strong thrust to the upside. A long body candle seen on Monday is set to push the prices higher. Look to initiate a buy.
METROPOLIS: Sell at ₹1,647 | Stop: ₹1,690 | Target: ₹1,515
METROPOLIS displayed a range breakdown highlighting the weakness that is triggering a widespread panic. This sector itself is undergoing some strong participation to the downside trends. As every rally is meeting supply, it’s best to consider this as a shorting opportunity. As trends remain pressured the volatile market conditions are indicating that the trends can continue lower.
Also read | Market correction or full-blown bear hug? Investors brace for uncertainty
Three stocks recommended by Ankush Bajaj
SBI Cards & Payment Services Ltd: Buy at ₹865 | Target: ₹905-925 | Stop loss: ₹842
On the hourly chart, the stock has given a strong breakout. If the price holds above the ₹840 level, we may witness a strong uptrend in the coming days.
Bajaj Finance Ltd: Buy at ₹8,432 | Target: ₹8,560-8,600 | Stop loss: ₹8,360
On the hourly chart, the stock is poised for a breakout. If it sustains above the 8,480 level, it will confirm a triangle breakout, with a potential target of 9,000+.
Larsen & Toubro Ltd: Buy at ₹3,220 | Target: ₹3,290-3,310 | Stop loss: ₹ 3,180
On the hourly chart, the stock is breaking out of a falling wedge pattern, accompanied by an RSI bullish divergence. Taking a long trade with a low-risk approach could be a good opportunity.
Also read | India Inc’s dull earnings outlook signals tougher times ahead for markets
About the analysts: MarketSmith India is a stock research platform. Raja Venkatraman is co-founder, NeoTrader. Ankush Bajaj is a Sebi-registered research analyst.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
