The near-term trend of the market remains positive. Nifty may move above the hurdle of 18,800-18,900 levels in the next few sessions. Any weakness from the highs could find immediate support around 18,400 levels, as per share market experts
“Nifty has been inching gradually higher but facing difficulty in holding above 18,700 levels. Participants should maintain “buy on dips” approach till it holds 18,400. We reiterate our preference for sectors like auto, FMCG & realty and suggest picking selectively from the midcap and smallcap pack as well,” said Religare Broking
“Banking index is currently hovering around the immediate support of short-term moving average i.e. 20 EMA. Mixed trend within the private banking space is keeping the participants guessing over the next directional move. We suggest limiting positions to select private banking majors and waiting for clarity,” Religare Broking said
LTP: Rs 185.70 | Stop-loss: 17
Religare Broking has a ‘buy’ call on NTPC shares with a target price of Rs 196. So far this year, the stock has risen around 10.54%.
“NTPC has witnessed a breakout from a consolidation range after spending nearly seven months. The chart pattern indicates the prevailing trend to continue,” said Religare Broking
LTP: Rs 242.25 | Stop-loss: Rs 237
Religare Broking has PowerGrid as one of its technical stock picks. The brokerage has a ‘buy’ rating on the counter with a target price of Rs 258 per share. The stock has risen around 12.8% in YTD time
“PowerGrid is among the consistent performers within the energy space. It has formed a fresh buying pivot while holding firmly above the neckline of previous consolidation range. We expect the stock to make a new record high soon,” Religare Broking said
LTP: Rs 111.15 | Stop-loss: Rs 107
Religare Broking has a ‘buy’ call on Tata Steel shares with a target price of Rs 120. So far in 2023. the stock has fallen over 6%
“Metal pack is seeing gradual recovery and Tata Steel is trading in sync with the trend. It has witnessed a breakout from a reversal pattern of late and also surpassed the hurdle of multiple moving averages on the daily chart,” Religare Broking said
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position