Headline index Nifty ended positive for a fifth day in a row aided by strong buying action in financials and auto stocks. A breakout from this consolidation zone was witnessed on the daily chart, confirming renewed bullish momentum.
Commenting on the day’s Vatsal Bhuva, Technical Analyst at LKP Securities said that today’s breakout highlights the strong grip of bulls on the index. “As long as the index sustains above 58,000, where its 20-day EMA is positioned, it remains a buy-on-dip candidate. Immediate support lies at 58,200, while potential resistance is expected around 59,300 and 59,500 levels,” he said.
Here are 2 stock recommendations for Tuesday:
ET Online
Stop Loss: Rs 395
Target: Rs 430/445
India Cements has again attempted to break out above the key supply zone of Rs 410–Rs 415, supported by a strong bullish candle and healthy volume pickup, indicating renewed momentum. The price is trading above all major moving averages, showing trend strength, while RSI at 64.87 reflects improving momentum without being overbought. A sustained close above the resistance zone can open the path toward higher levels, with immediate support placed at the recent swing zone near Rs 395 to keep the structure intact
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
IANS
Stop Loss: Rs 449
Target: Rs 483
Vardhaman Textiles has registered a decisive resistance breakout with a strong close at Rs 460.25, gaining 1.65%, signalling renewed bullish strength after a period of consolidation. The price is firmly positioned above major EMAs, reinforcing a robust upward structure, while the RSI at 67.26 reflects healthy momentum without extreme overbought conditions. A sustained move above the breakout zone can open the path for continued upside, whereas immediate support around the Rs 445–Rs 450 region keeps the trend positive as long as this zone holds
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
ANI
Stop Loss: Rs 875
Target: Rs 960
After correcting from its recent highs, the stock took support near its 10-day EMA on the daily chart, highlighting strong buying interest at lower levels. A hidden bullish divergence is also observed, signalling underlying strength despite the pullback. This combination of price holding above key short-term averages and supportive momentum indicators suggests the continuation of the prevailing uptrend. Overall, the setup indicates that the stock is likely to resume its upward momentum after a brief pause or consolidation phase
(Vatsal Bhuva, Technical Analyst at LKP Securities)
ANI
Stop Loss: Rs 1,665
Target: Rs 1,660
The stock continues to be one of the key outperformers within the IT index, supported by a strong technical setup. A rounding base formation is visible on the chart, indicating a steady accumulation phase and a potential for further upside. The stock is sustaining well above its 20-day EMA and has also convincingly reclaimed its 200-day EMA, reinforcing its bullish strength. Additionally, the RSI shows a bullish crossover, suggesting improving momentum. Overall, the technical structure supports continued upside in the stock.
(Vatsal Bhuva, Technical Analyst at LKP Securities)
IANS
Stop Lost: Rs 559
Target: Rs 620
Buying interest emerged in the stock from its key support levels, indicating strong demand at lower prices. In Monday’s session, the stock took support near its 20-day EMA, and fresh buying was witnessed from those levels. It is confidently sustaining above both the 20-day and 50-day EMAs, reflecting strength in the ongoing trend. Additionally, the RSI is in a bullish crossover, signalling improving momentum. With this supportive technical setup, further recovery in the stock is expected toward the 620 levels.
(Vatsal Bhuva, Technical Analyst at LKP Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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