Sensex, Nifty 50 Outlook: A trading day earlier on Tuesday, October 12, the Nifty / Sensex was bullish. After a sluggish start on Tuesday, it got support near 17850/59850 and closed with an increase. Nifty PSU Bank outperformed and gained over 3 per cent. Talking about the daily and intra-day charts, the index has formed a higher bottom which looks reliable. In the coming trading days, the market is showing bullish trends and the market can go up to 18125/60700. According to the type of trend in the market, if there is a decline, then it should be seen as a great buying opportunity. Talking about individual stocks, better returns can be obtained by investing in Axis Bank, Bank of Baroda, Havells India and Escorts.
Stock Tips: Golden opportunity to invest in these two stocks, market experts gave this target price
BUY, CMP: Rs 1,421, TARGET: Rs 1,490, SL: Rs 1,390
This stock has made higher low on the daily chart. Although it was trading in a range in the last few trading sessions, it has now broken out and its prices closed above the short term moving average, which may give further upside.
Bank of Baroda
BUY, CMP: Rs 87.9, TARGET: Rs 95, SL: Rs 84
After breaking out the earlier high level, now its momentum has stopped. It has drawn a cup and handle chart pattern on a monthly scale. Its volume activity has also increased. Due to this, a bullish trend is visible in it.
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BUY, CMP: Rs 796.5, TARGET: Rs 840, SL: Rs 780
In the last few months, this stock has seen great growth and now it is continuously moving forward. The stock is showing a bullish trend with trend indicators like MACD (Moving Average Convergence Divergence) and ADX (Average Directional Index). In such a situation, there is a possibility of strengthening of this stock in the coming trading days.
BUY, CMP: Rs 1,517.2, TARGET: Rs 1,590, SL: Rs 1,485
There has been a great rise in this stock on the monthly scale. It is currently trading in a range and is forming a symmetrical triangle chart pattern. However, the recent price volatility is showing signs of a strong breakout in the coming trading days.
(Article: Shrikant Chauhan, Head of Retail Equity Research, Kotak Securities)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)