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Buy RITES, Infosys shares; stay cautious on Chola Finance stock, says YES Securities

Buy RITES, Infosys shares; stay cautious on Chola Finance stock, says YES Securities

An analyst from YES Securities said that For the past few days, RITES has been in a consolidation phase but a recent uptick in buying activity signals a shift.

Pawan Kumar Nahar
Pawan Kumar Nahar
  • Updated Jul 3, 2025 10:39 AM IST
Buy RITES, Infosys shares; stay cautious on Chola Finance stock, says YES Securities

Indian benchmark indices settled lower on Wednesday ahead of Trump tariffs deadline, leading to a cautious approach from investors. Traders are awaiting India Inc's earnings due next week. BSE Sensex dropped 287.60 points, or 0.34 per cent, to settle at 83,409.69, while NSE's Nifty50 tanked 88.40 points, or 0.35 per cent to close at 25,453.40 for the day.
 

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Select buzzing stocks including Cholamandalam Investment and Finance Company (Chola Finance), RITES and Infosys likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say about these stocks ahead of Thursday's trading session:

RITES | Buy | Target Price: Rs 320 | Stop Loss: Rs 277

For the past few days, RITES has been in a consolidation phase but a recent uptick in buying activity signals a shift. The stock has now given a consolidation breakout on the daily chart, backed by increased volume. Positive crossover in daily RSI strengthens the bullish outlook. Consequently, we recommend a 'buy' on RITES around Rs 290-292 with a stop loss at Rs 277 and a potential target of Rs 320.
 

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Cholamandalam Investment and Finance Company | Caution | Resistance: Rs 1,670 | Support: Rs 1,490

Maintaining its bearish structure, Chola Finance is consistently forming lower highs and lower lows on the daily charts. A trend reversal would require the stock to decisively breach and hold above Rs 1,670, an unlikely scenario in the prevailing weak market. Consequently, a downside extension to the Rs 1,515-1,490 support area, coinciding with the 100 SMA, remains a high-probability target for medium-term traders barring any major positive news.
 

Infosys | Buy | Target Price: Rs 1,750 | Stop Loss: Rs 1,600

Infosys seems ready to exit the sideways trading phase it's been in for the past few weeks. This follows a bottom reversal established in the Rs 1,575-1,600 range. The stock is now displaying a sustainable bounce and is actively attempting to break above the significant Rs 1,650 horizontal resistance level, visible on both its daily and weekly charts. The current volume and RSI patterns indicate strong potential for additional gains. While the overall chart structure suggests a long opportunity, it's wise to wait for a decisive breakout above Rs 1,650. Once this level is cleared, we anticipate Infosys will gain upward momentum, targeting Rs 1,750. Consider buying Infosys above Rs 1,650 aiming for a target of Rs 1,750. Place your stop loss at Rs 1,600.

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.
Published on: Jul 3, 2025 7:26 AM IST
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