Buy Adani Enterprises, HDFC Bank, Infosys shares, says Arihant Capital
An analyst at Arihant Capital Markets said that we are observing sideways moves for four trading sessions after six days of fall in HDFC Bank on the daily charts.


- Oct 14, 2024,
- Updated Oct 14, 2024 7:30 AM IST
Indian benchmark indices remained range bound on Friday amid the absence of decisive triggers. Traders remained cautious ahead of the Q2 earnings, geopolitical concerns and global economic data. BSE Sensex dropped 230.05 points or 0.28 per cent, to end the session at 81,381.36. NSE's Nifty50 shed 34.20 points, or 0.14 per cent, to close at 24,964.25 for the day.
Some buzzing blue-chip stocks including HDFC Bank Ltd, Adani Enterprises Ltd and Infosys Ltd are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:
We are observing a six-week consolidation pattern on the weekly charts of Infosys. At present, the stock has support at Rs 1,915 – 1,900 level. The stock is outperforming the benchmark indices. Even the momentum indicator RSI is positively poised. Hence, one can buy the stock with a stop loss of Rs 1880 for targets of Rs 2,040–2,090 levels in the next couple of weeks.
Indian benchmark indices remained range bound on Friday amid the absence of decisive triggers. Traders remained cautious ahead of the Q2 earnings, geopolitical concerns and global economic data. BSE Sensex dropped 230.05 points or 0.28 per cent, to end the session at 81,381.36. NSE's Nifty50 shed 34.20 points, or 0.14 per cent, to close at 24,964.25 for the day.
Some buzzing blue-chip stocks including HDFC Bank Ltd, Adani Enterprises Ltd and Infosys Ltd are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:
We are observing a six-week consolidation pattern on the weekly charts of Infosys. At present, the stock has support at Rs 1,915 – 1,900 level. The stock is outperforming the benchmark indices. Even the momentum indicator RSI is positively poised. Hence, one can buy the stock with a stop loss of Rs 1880 for targets of Rs 2,040–2,090 levels in the next couple of weeks.