Cipla, BEML, Ramco Cements, Paradeep Phosphates: 4 stock picks by brokerage firms

Cipla, BEML, Ramco Cements, Paradeep Phosphates: 4 stock picks by brokerage firms

An analyst at Ashika Stock Broking said that The share price of Cipla has formed a higher base above the 200-day EMA, indicating a potential resumption of the uptrend.

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The Ramco Cements has been consolidating in the range of Rs 820-880 with prices managing to hold above its 200-DEMA weekly time frame since the last few weeks, said SMC Global.The Ramco Cements has been consolidating in the range of Rs 820-880 with prices managing to hold above its 200-DEMA weekly time frame since the last few weeks, said SMC Global.
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Pawan Kumar Nahar
  • Nov 4, 2024,
  • Updated Nov 4, 2024 7:13 AM IST

Indian benchmark indices managed to post smart gains on the special Muhurat trading session on Friday. Positive global cues supported the sentiments at Dalal Street. BSE Sensex gained 335.06 points or 0.42 per cent, to end the session at 79,724.12. NSE's Nifty50 jumped 99 points, or 0.41 per cent, to close at 24,304.35 for the day.

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Some buzzing stocks including Cipla Ltd, Paradeep Phosphates Ltd, BEML Ltd and The Ramco Cements Ltd are likely to remain under the spotlight of traders for the session today. Here is what brokerage firms like Ashika Stock Broking and SMC Global Securities has to say on these stocks ahead of Monday's trading session:

 

Paradeep Phosphates has broken out from a three-month consolidation phase with increased trading volume, signaling a potential resumption of the primary uptrend. This presents a fresh entry opportunity for investors. Since May 2023, the stock has consistently held the 50-day moving average, indicating strong underlying support and buying demand. The daily MACD indicator is pointing northward and sustaining above its zero line, confirming the acceleration of upward momentum. The stock is expected to move towards the Rs 122 level in the coming weeks. This level corresponds to the pattern target of the rising channel formation since September 2022

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Recommended by: Ashika Stock Broking

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Indian benchmark indices managed to post smart gains on the special Muhurat trading session on Friday. Positive global cues supported the sentiments at Dalal Street. BSE Sensex gained 335.06 points or 0.42 per cent, to end the session at 79,724.12. NSE's Nifty50 jumped 99 points, or 0.41 per cent, to close at 24,304.35 for the day.

Advertisement

Related Articles

 

Some buzzing stocks including Cipla Ltd, Paradeep Phosphates Ltd, BEML Ltd and The Ramco Cements Ltd are likely to remain under the spotlight of traders for the session today. Here is what brokerage firms like Ashika Stock Broking and SMC Global Securities has to say on these stocks ahead of Monday's trading session:

 

Paradeep Phosphates has broken out from a three-month consolidation phase with increased trading volume, signaling a potential resumption of the primary uptrend. This presents a fresh entry opportunity for investors. Since May 2023, the stock has consistently held the 50-day moving average, indicating strong underlying support and buying demand. The daily MACD indicator is pointing northward and sustaining above its zero line, confirming the acceleration of upward momentum. The stock is expected to move towards the Rs 122 level in the coming weeks. This level corresponds to the pattern target of the rising channel formation since September 2022

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Recommended by: Ashika Stock Broking

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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