Benchmark indices gave up early gains to end marginally in red in the previous session. BSE Sensex ended almost flat at 61,761.33. On the other hand, NSE's Nifty50 added 1.55 points to settle at 18,265.95. Broader markets ended mixed as the BSE midcap index settled marginally up, while the BSE smallcap index settled in red
CMP: 18,265.95
Nifty ended flat on Tuesday, taking a breather after the recent swings. "It has formed a higher base at 18,050 levels and we expect the positive tone to continue. Traders should maintain a “buy on dips” approach till 18,050 is intact," said Religare Broking
CMP: 43,198.15
The banking index also traded in sync with the benchmark index and ended marginally lower. "A decisive breakout above 43,500 would fuel the fresh momentum else consolidation will continue. Meanwhile, focus on accumulating private banking majors and stay selective in PSU pack," said Religare Broking
LTP: Rs 147.05 | Target: 154 |
Stop-loss: 143.50
Religare Broking has a ‘buy’ call on Ashok Leyland stock with a target price of Rs 154. So far this year, the stock has fallen around 1%.
“The auto index has made a new record high, after spending nearly eight months in consolidation. Ashok Leyland looks set to join the move, with a trend line breakout on the daily chart. Expect fresh momentum above 149 levels,” said Religare Broking
LTP: Rs 792.05 | Target: 818 |
Stop-loss: 774
Religare Broking has Bharti Airtel as one of its technical stock picks. The brokerage has a ‘buy’ rating on the counter with a target price of Rs 792. The stock has fallen 2.5% in YTD time
“Bharti Airtel has formed a base in the last four months, after a marginal dip from its record high. It has also reclaimed the major moving averages and is currently holding strongly above the same. The chart pattern combined with other indicators are pointing towards gradual recovery from hereon,” Religare Broking said
LTP: Rs 1,079 | Target : 1,140 |
Stop-loss: 1,050
Religare Broking has HCL Technologies among its technical stock picks with a target price of Rs 1,140. So far in 2023. HCL Tech share price has jumped nearly 4%
“We are seeing consolidation in the IT index after the initial bounce while holding firmly above the short-term moving average (20 EMA). HCL Tech has been among the best-performing names in IT majors and it has formed a fresh base around 1,030. Eyeing a steady-up move now,” Religare Broking said
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