Here are two stocks to buy on Tuesday
NMDC – Buy | CMP: Rs. 93
Stop-Loss: Rs. 87
Target: Rs. 105
NMDC is displaying a strong bullish structure with a range of higher highs and higher lows on the daily chart. The stock is trading above its key moving averages, which are positively aligned and indicate continued trend strength. Recent price action shows a breakout from the consolidation zone, supported by a significant increase in volume, reflecting strong buying participation. The medium-term uptrend remains intact with the moving averages acting as dynamic support during the pullback. The RSI holds above the neutral zone, indicating positive momentum without excessive overheating. The overall setup favors fresh positional buying, with a good position to continue the ongoing uptrend in the coming weeks.
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Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio
Laurus Labs – Buy | CMP: Rs. 1,388
Stop-Loss: Rs. 1310
Target: Rs. 1,580
Laurus Labs continues to exhibit a strong bullish trend, supported by a consistent pattern of higher highs and higher lows. The stock recently delivered a decisive breakout above the long-term resistance zone and is sustaining near lifetime highs, reflecting strong market participation. The price is trading comfortably above key moving averages, which is positively aligned and reinforces the existing uptrend. Volume activity remains healthy, indicating continued buying interest. The RSI is located in the bullish zone, highlighting strong momentum, although intermittent consolidation cannot be ruled out. Overall the technical setup remains favorable for fresh positional buying, the breakout structure suggests a possible continuation of the ongoing uptrend in the medium term.
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)
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