Stock Ideas: Day Trading Guide: SBI among 4 stock recommendations for Thursday – Stock Ideas
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“Finally, the bulls managed to post one of the highest closes of recent times on the D-Street. After some initial jerks, the index Nifty posted a strong rally during the session to clear the 16,000 mark and close near the same. However, the high of 16,025 is still not crossed, and once that happens in the coming session, then the index could be heading towards 16,200/16,400. This zone should be used to book profits since that has a cluster of resistances. On the downside, today’s low of 15800 would be a key support for the week,” said Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers.
Here are the top four stock recommendations which analysts suggest:
iStock
Target: Rs 8500
Stop Loss: Rs 7750
Earlier, we recommended Blue Dart at Rs 7770 for the target of Rs 8200, which is almost met in this session. The setup still remains strong, and one can again buy the stock with higher targets.
Analyst: Mehul Kothari, Anand Rathi Shares
ETtech
Target: Rs 610
Stop Loss: Rs 555
The stock is oversold, and we are witnessing a positive divergence in daily RSI, which indicates the possibility of a bounce. On the daily chart, we are witnessing a bullish hammer formation.
Analyst: Mehul Kothari, Anand Rathi Shares
Targets: Rs 1,860/1,890
Stop Loss-1,720
The stock has given a breakout on the daily chart, with rising volumes indicating strong momentum in the near term. The stock has surpassed its previous 2-week range and has closed on a strong note. The stock on the daily chart has formed a positive divergence which acts as a trend reversal indicator in the short-term time frame.
Analyst: Kunal Shah, LKP Securities
Targets: Rs 500/512
Stop Loss- Rs 460
The stock is on the verge of a breakout from a symmetrical triangle pattern on the daily chart with good base formation on the lower end. The stock has surpassed its previous swing high with higher high and higher low formations intact. The momentum is likely to continue on the upside with the oscillators trading in a strong buy zone.
Analyst: Kunal Shah, LKP Securities
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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