Commenting on the current trends, Rupak De, Senior Technical Analyst at LKP Securities said that sentiment looks positive, with the index reclaiming its 50-DMA. “The RSI is in a bullish crossover and continues to trend higher. In the short term, the index may move towards higher levels, with initial resistance placed at 26,000–26,200. On the lower end, support is placed at 25,650,” De said.
Here are 2 stock recommendations for Tuesday:
Buy Crompton Greaves at Rs 261 | Upside: 15%
Stop Loss: Rs 245
Target: Rs 299
Crompton has given a strong breakout from its falling channel, supported by rising volumes, signaling a potential trend reversal. The price has reclaimed key short-term moving averages, indicating renewed bullish momentum. RSI is at 66 and trending upward, showing strength without being overbought. Sustained trade above Rs 255–258 confirms buying interest and opens room for further upside. With momentum building and structure turning positive, dips toward Rs 255 can be used to accumulate.(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
Buy Shriram Finance at Rs 1,063 | Upside: 14%
Stop Loss: Rs 968
Target: Rs 1,217
Shriram Finance has delivered a strong breakout on the weekly timeframe after consolidating within a symmetrical triangle for months. The stock is now trading at new highs with strong bullish candles and rising volume, indicating sustained institutional participation. Price action remains firmly above the 20-week EMA, confirming a robust uptrend. RSI at 80 reflects strong momentum, though overbought conditions may lead to mild pullbacks—best used as buying opportunities. As long as the stock holds above Rs 970, the trend remains decisively positive.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)