“The Nifty’s short -term trend remains weak, and the downward improvement seems to be accelerated. Excessive weakness of 22,800 can pull down to the next lower way around 22,350 in the near term. Any pullback rally can withstand resistance around 23,150,” said HDFC.
Here are 2 stock recommendations for Monday:
Buy Emami at £ 590–595
Target Price: 50 650
Stop loss: 5 565
Imami has confirmed the breakout from the falling wedge pattern on the Daily Chart – the opposite setup of the classic boom. Volume has increased significantly with a breakout, reflecting excessive buying and strengthening the spirit of investors. In addition, crossing from the 21-day EMA 50-day EMA underscores the pace of continuous boom. The relevant strength index (RSI) is also trending upwards, giving a positive price further recognizing the action.
(Virat Jagad, Technical Analyst, Bonanza)
Buy Pardip Phosphates on RAD 118-120
Target Price: ₹ 130
Stop loss: 2 112
Paradip Phosphates Limited has confirmed a breakout from the formation of a circular bottom on the daily chart – usually the ongoing pattern of boom. Volume has increased significantly with a breakout, indicating a strong purchase juice. Following a successful throwback, the stock is trading near the recent S Volume, which is supported by sloping upwards and slow EMAs, showing a steady boom. RSI is also trending high, strengthening the strength of the current uptrend.
(Virat Jagad, Technical Analyst, Bonanza)
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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