Commenting on the current trend, Rupak De, Senior Technical Analyst at LKP Securities, said that bears took control of the session when Nifty failed to move decisively above 25,950. “On the lower end, the support at 25,800 was broken, setting a bearish tone. In the short term, the trend is likely to remain weak, with the potential to decline towards 25,525. On the higher end, resistance is placed at 25,850, above which the trend may turn positive,” De said.
Here are four stock recommendations for Monday:
Buy Raghav Productivity Enhancers at Rs 781.65 | Upside: 11% | Stop Loss: Rs 710 | Target: Rs 870
RPEL has staged a breakout from a symmetrical triangle pattern on the daily chart, closing the session with a strong bullish candle supported by volumes significantly above the 20-day average, signalling strong accumulation. The stock is trading well above its 20-, 50-, 100- and 200-day EMAs, reaffirming the strength of the ongoing uptrend. The RSI, currently at 72.11 and trending higher, indicates robust bullish momentum and suggests potential for further upside in the near term.(Kunal Kamble, Senior Technical Research Analyst, Bonanza Portfolio)
Buy Choice International at Rs 836.60 | Upside: 8% | Stop Loss: Rs 802 | Target: Rs 905
Choice International has registered a breakout from a consolidation zone on the daily chart, closing the session with a strong bullish candle backed by volumes well above the 20-day average, indicating robust accumulation. The stock is trading firmly above its 20-, 50-, 100- and 200-day EMAs, highlighting the strength of the ongoing uptrend. The RSI, currently at 61.81 and rising, signals strengthening bullish momentum and points to the potential for further upside in the near term.
(Kunal Kamble, Senior 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 The Economic Times.)