Market Trading Guide: HAL, LTIMindtree Among 5 Stock Recommendations for Monday

Indian frontline indices ended the week with a 2.3% cut amid selling pressure across most sectors, mainly banks, autos and pharma. Even on Friday, they ended lower. While the S&P BSE Sensex settled down 241.30 points or 241.30% at 77,378.91, the Nifty closed down 95 points or 0.4% at 23,431.50.

Commenting on the day’s action, Rupak De, senior technical analyst at LKP Securities, said bearish pressures continued and intensified as the index closed below 23,500 for the first time in many days. “The index remains below the crucial 50 EMA, which supports the bearish trend. Additionally, the RSI remains in a negative crossover, indicating weak momentum. In the short term, sentiment remains subdued, with the possibility of a decline towards 23,300 or 23,000. Above, resistance Seen 23,550–23,600,” Day said.

Here are 5 stock recommendations for Monday:

Buy LTIMindtree for Rs 6,124.40

Stop Loss: Rs. 5,850

Target Price: Rs. 6,500-6,700

LTI Mindtree has broken out of a 13-day consolidation, signaling a bullish breakout. Increased volume during the breakout indicates strong buying interest at current levels. Additionally, the price closed above the 50-period double EMA, further confirming the bullish sentiment. The RSI is trending upwards, aligned with positive price action. Based on this technical setup, a long position can be initiated in LTI Mindtree as long as it holds above 5,850, with an upside target of 6,500–6,700.

(Kunal Kamble, Senior Technical Research Analyst at Bonanza)

Future of PNB Rs. Sell ​​for 99.15

Stop Loss: Rs. 103

Target Price: Rs. 92-90

PNB futures broke out of the rising wedge pattern, indicating continuation of the downtrend. Increased volume during the breakout indicates strong selling interest at current levels. Furthermore, the price is trading below both the fast 20 EMA and the slow 50 EMA, further confirming

Recession trend. The RSI has also broken below the descending trend line, supporting bearish price action. Based on this technical setup, a short position in PNB January futures can be initiated with a stop-loss at 103 and a target range of 92-90. To hedge the position, it is recommended to buy a 100 CE option.

(Kunal Kamble, Senior Technical Research Analyst at Bonanza)

Uno Minda received Rs. Buy for 1,098

Target: Rs 1,220

Stop Loss: Rs. 1,044

The stock has given a consolidation breakout on the daily chart, indicating increased optimism around it. Furthermore, the stock is holding above the critical moving average. The RSI is in a bullish crossover and is trending upwards. In the short term, the stock may move towards 1,220, with support at 1,044 at the lower end.

(Rupak De, Senior Technical Analyst, LKP Securities)

HAL received Rs. Sell ​​for 4,000

Target: Rs. 3,800

Stop Loss: Rs 4,100

The stock has given a breakdown from consolidation on the daily chart, indicating bearish growth around it. Also, the stock is hovering below the crucial moving average. RSI is in a bearish crossover and is falling. In the short term, the stock may move down towards 3,800, with support at 4,100 at the lower end.

(Rupak De, Senior Technical Analyst, LKP Securities)

Buy IRCTC for Rs 779

Target Price: Rs 850

Stop Loss: Rs. 759

The stock is showing early signs of recovery from current levels. The recent green candle was accompanied by decent volume, adding to the positive sentiment. The RSI has entered a bullish crossover, and a positive divergence is visible on the daily RSI. In the short term, the stock may move towards 850, with support at 759.

(Rupak De, Senior Technical Analyst, LKP Securities)

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)