Market Trading Guide: Titagarh Rail Among 2 Stock Recommendations for Thursday

Domestic equity markets continued their recovery momentum, buoyed by rising optimism around easing US-Iran tensions and softening crude oil prices. The rally was broad-based with significant gains in the IT, realty, FMCG and oil and gas sectors. Metal stocks, however, retreated, as supply-side concerns began to ease due to a sharp pullback in global metal prices. Investor sentiment is being gauged ahead of the next US Fed policy meeting, the first under the newly appointed chair.

Here are two stock recommendations for Thursday

Titagarh Rail – Buy: Rs. 920
Stop-Loss: Rs. 897
Target: Rs. 966-1012

Titagarh Rail Systems has invested Rs. Given a decisive breakout above the 915-920 resistance zone, supported by improving volume and strong momentum. The stock is trading above its 20, 50, 100 and 200-day moving averages, confirming a bullish trend across multiple timeframes, while an RSI near 69 indicates continued buying strength.

Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio

Engineers India – Buy: Rs. 243
Stop-Loss: Rs. 225

Target: Rs. 255-265

Engineers India is consolidating in a narrow range after a strong recovery from lows and is now trying to breakout from a bullish ascending triangle pattern. The stock is trading above its 20, 50, 100, and 200-day EMAs, indicating a positive trend across the timeframe. Rs. A recent bounce from the 225 support zone and RSI improving above 55 suggests strengthening momentum.

Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio

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