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By EquityPandit

EquityPandit

EquityPandit
DAILY PREDICTION

Advice for – Thursday, December 17, 2009

Yesterday: As we predicted, market open negative. Market was quite volatile yesterday but in a narrow region. No big movement was seen either side. Market movement was just directionless.

 

Today: Today again Indian stock market would open with flat. Market looks down until a mild support of 4950 for Nifty comes into picture another strong support would just be 4750 for Nifty. Some uptrend can be seen if Nifty closes above 5051 but a strong resistance would be seen at 5100 level till then Traders can short but keep booking profits at small levels.

 

Note: Stocks to trade for F&O, intraday, short-term delivery, long term delivery and short selling and when to exit those stocks would be sent to paid subscribers live during the market hours through SMS.

 

BSE Sensex: (16913) The support for the Sensex is 16660 and the resistance to the up move is at 17050.

 

NSE Nifty: (5042) The support for the Nifty is at 4990-4950 and the resistance to the up move is at 5050-5100-5183.

 

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Stocks To Buy

Stocks to Buy for Friday, April 29,2023

Anuja Mishra

In the previous session, the Nifty index saw a gap up opening. The index got stronger as the day progressed and closed with a net gain of 101 points. The Nifty formed a strong bullish candle on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for Friday, April 29,2023’ before the market opens.

IDFC First Bank Ltd

On the technical front, the stock has delivered a falling trendline breakout in today’s session as it surged around 1%. A bullish candle appeared on the chart. The momentum indicator Relative Strength Index RSI (14) has also sustained above 70, indicating bullish strength.

In short, IDFC FIRST looks to be at a breakout level with bullish up move expectations. Positions can be created around 59.45 levels. Add more on dip around 56 which can take prices towards 62/64 level. On the other side, 21 EMA support will act as key support for the stock.

Check More Analysis on at IDFCFIRSTB: IDFC First Bank Ltd

Stocks To Buy

Stocks to Buy for Thursday, April 27,2023

Anuja Mishra

In the previous session, the Nifty index saw a flat opening. The index got stronger as the day progressed and closed with a net gain of 44.35 points. The Nifty formed a bullish candle on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for Thursday, April 27,2023‘ before the market opens.

Tata Motors Ltd

In the daily time frame, stock has given a breakout above ‘Bullish Pennant Pattern’. It’s a continuation chart pattern which occurred in a strong uptrend. After that stock witnessed consolidation phase between 465-475 levels and formed a Symmetrical triangle like formation called pennant.

In short, trend for TATAMOTORS looks to be positive for now. As prices have decisively broken above 477 level, we can expect it to reach a target of 499 based on our analysis. This outlook is valid as long as 9 EMA support remains protected on downside

Check More Analysis on at TATAMOTORS: Tata Motors Ltd

Stocks To Buy

Stocks to Buy for Wednesday, April 26,2023

Anuja Mishra

In the previous session, the Nifty index saw a gap up opening. The index got stronger as the day progressed and closed with a net gain of 25.85 points. The Nifty formed a small Doji candle on the daily chart. We recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for Wednesday, April 26,2023‘ before the market opens.

Syngene International Ltd

In the daily time frame, stock has given a breakout above ‘Bullish Pennant Pattern’. It’s a continuation chart pattern which occurred in a strong uptrend. The pattern consists of two major formations called the pole and followed by the Triangle pattern. Addition, stock is above the 9 EMA on the chart which indicates short term bullishness . Relative Strength Index (RSI) on the daily chart is 69.

In short, SYNGENE looks to be positive for the short-term view. One can initiate a buy near current price for an upside target of 648.This outlook remains valid as long as 608 is protected on downside.

Check More Analysis on SYNGENE at: Syngene International Ltd

Stocks To Buy

Stocks to Buy for Tuesday, April 25,2023

Anuja Mishra

In the previous session, the Nifty index bounced back after 5 days of fall. The Nifty index opened on a positive note but soon slipped into negative territory. A strong recovery was seen in the second half of the market. On the technical note, the index formed a bullish Doji candle on the chart and closed with a net gain of 119 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

Look at the below research report of ‘Stocks to Buy for Tuesday, April 25,2023′ before the market opens.

Titan Company Ltd

The pattern analysis shows that the TITAN has once again attempted to resume its up move and closed above the 20 EMA support with positive momentum. Currently stock is trading in the form of Impulse wave pattern. As per theory, there is a clear impulse rise as shown on the daily chart and the stock is currently moving in the form of wave 3. Also, we can see that the price has formed a ‘Bullish Pennant Pattern’. It is a continuation chart pattern, in which we can see that upward price action.

In short, TITAN looks to be positive for the short-term view. One can initiate a buy near current price for an upside target of 2685.This outlook remains valid as long as 2545 is protected on downside.

Check More Analysis on TITAN at: Titan Company Ltd

Stocks To Buy

Stocks to Buy for Monday, April 24,2023

Anuja Mishra

In the previous session, market had a consolidation move with a negative bias throughout the day. The Nifty index opened on a positive note but soon slipped into negative territory. Later we saw some recovery from lower levels. Technically, the Nifty Index formed a Doji candle on the chart , which indicates indecision in the market. Hence a stock specific approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Monday, April 24,2023‘ before the market opens.

Bandhan Bank Ltd

In the daily time frame, stock is moving in the form of a ‘Inverted Head & shoulder’ pattern. The right shoulder completed near the 212 level. Recently, stock has given a breakout from the neckline of the pattern and moving in the form of Higher highs and lows formation. Stock also formed a strong bullish candle in the previous session. The 9 days Moving average is acting very well on the stock. In addition, the Relative Strength Index (RSI) on the daily chart is 59 indicating strength in the stock.

In a Nutshell, the trend for BANDHANBANK looks to be positive now. Use dips around 210-212 as a buying opportunity for a move towards 226/240 levels as long as we do not see any closing below 9 EMA support.

Check More Analysis on BAANDHANBANK at: Bandhan Bank Ltd

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