Indian headline indices settled little changed on Monday after scaling the record highs. Positive global cues pushed the headline indices to new milestones but profit booking at the higher levels led them to a flat ending. The BSE's barometer Sensex added merely 23.12 points, or 0.03 per cent, to end the day at 81,355.84. NSE's Nifty50 inched up only 1.25 points, or 0.01 per cent, to close at 24,836.10.
Some buzzing stocks namely Tata Chemicals Ltd , Petronet LNG Ltd , Quess Corp Ltd and Jyothy Labs Ltd are likely to remain under the spotlight of traders for the session today. Here is what various analysts from different brokerage firms have to say on these stocks ahead of Tuesday's trading session:
Quess Corp | Buy | Target Price: Rs 755-785 | Stop Loss: 642
Quess has confirmed a breakout above the medium-term 'Multiple Resistance' zone around the 665 level on the weekly chart with a strong bullish candle, indicating the continuation of the medium-term uptrend. The increase in volume activity at the breakout signifies a surge in market participation. The stock is forming higher highs and higher lows on the weekly chart and holding above the upward-sloping trendline, indicating a positive bias. The Weekly RSI strength indicator crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 755-785 levels.Recommended by: Axis Securities
Petronet LNG | Buy | Target Price: Rs 430 | Upside: 16%
Petronet LNG has been on a steady climb since November 2023, reflecting sustained demand at higher levels. The stock has currently rebounded from support levels of Rs 330, presenting a fresh buying opportunity. Hereon one can expect a renewed uptrend targeting the Rs 430 level, a crucial Fibonacci retracement point. The 10-week EMA, a consistent support level during past uptrends, reinforces the stock's bullish outlook. Technical indicators also signal positive momentum, with the weekly RSI displaying a bullish crossover.Recommended by: Ashika Stock Broking
Tata Chemicals | Buy | Target Price: Rs 1,330 | Stop Loss: 970
For the past two weeks, Tata Chemicals has been trading within a narrow range of Rs 1,020-1,075. This period of consolidation indicates that the stock was experiencing a phase of accumulation, where buyers and sellers were relatively balanced. Recently, the stock broke out of this range, meaning it surpassed the upper limit of Rs 1,075 and has consistently remained above this level since. This breakout is considered credible, suggesting strong buying interest and a potential shift in market sentiment. Before this breakout, Tata Chemicals had formed a base near its 200-day exponential moving average (DEMA), a key technical indicator that often acts as a support level. This base formation around the 200 DEMA makes the stock look attractive from a technical analysis perspective. Consequently, it is recommended to take a long position, buying the stock within the range of Rs 1,070-1,110. The target price for this trade is set at 1,330, anticipating an upward move with a stop loss of Rs 970.Recommended by: Anand Rathi Shares & Stock Brokers
Jyothy Labs | Buy | Target Price: Rs 640 | Upside: 19%
Jyothy Labs has been on a meteoric rise, consistently breaking new ground and setting higher price targets. Since its low point in June 2024, the stock has exhibited a strong upward trajectory, indicating robust demand and a healthy market environment. During the week the stock marked a pivotal moment as the stock decisively breached its previous peak, signaling continued strength and attracting investor interest. Technical indicators are flashing green, with key metrics supporting the bullish outlook. As a result, one can expect the stock to potentially climb to Rs 640, driven by the ongoing positive momentum.Recommended by: Ashika Stock Broking
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