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.
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:
The Ramco Cements | Buy | Target Price: Rs 955-965 | Stop Loss: 825
The Ramco Cements has been consolidating in the range of Rs 820-880 with prices managing to hold above its 200 days exponential moving average on a weekly time frame since the last few weeks. After a series of prolonged consolidation stock has given a fresh Bullish momentum above the ascending triangle pattern visible on weekly charts. The positive divergences on secondary oscillators also suggests that stock is on the verge of fresh upside after spending nearly four months in defined range. Therefore, one can accumulate the stock in range of Rs 875-885 for the expected upside of Rs 955-965 levels with stop loss below Rs 825 levels.
Recommended by: SMC Global Securities
Cipla | Buy | Target Price: Rs 1,790 | Upside: 15.2%
The share price of Cipla has formed a higher base above the 200-day EMA, indicating a potential resumption of the uptrend. It has recently witnessed shallow retracement highlighting positive price structure and offers fresh entry opportunity. Strong buying demand from rising demand line joining lows of October 2023 & May 2024 hence a favourable risk reward scenario can be deduced. The daily MACD has generated a buy signal, confirming the positive bias in the stock. The stock is expected to reach Rs 1,790 in the near term.
Recommended by: Ashika Stock Broking
BEML | Buy | Target Price: Rs 4,650-4,700 | Stop Loss: 3,650
BEML has been consolidating in a broader range of Rs 3,500-4,050 from the last few months on broader charts with prices seen hovering just above its 200 days exponential moving average on daily interval. Last week a fresh breakout has been observed into the stock after a series of prolonged consolidation. Technically stock has also given a fresh breakout above the neckline of the head & shoulder pattern visible on daily time frame. Therefore, one can accumulate the stock in the range of Rs 4,050-4,060 for the upside target of Rs 4,650-4,700 levels with stop loss below Rs 3,650 levels.
Recommended by: SMC Global Securities
Paradeep Phosphates | Buy | Target Price: Rs 122 | Upside: 17.3%
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
Recommended by: Ashika Stock Broking