25 Apr 2022, 08:14 PM IST
“Despite the sharp correction, the swing low of 16,825 is defended by the markets and indicates that till this support is held, we can expect some relief pullback in the markets. On the other hand, markets would be out of the woods only above the 17,400 mark since we are witnessing a death crossover of moving averages on the daily time frame of Nifty,” said Mehul Kothari, AVP – Technical Research, Anand Rathi.
Below are key recommendations for Tuesday:
Agencies
Stop Loss: Rs 95
Target: Rs 120
Recently, the stock confirmed a multiyear breakout above Rs 95 mark and that too at its life time high. The breakout was supported with exceptional volumes. The theoretical target for breakout comes around Rs 130-140 in the coming few months.
Analyst: Mehul Kothari, Anand Rathi
Agencies
Stop Loss: Rs 680
Target: Rs 760
After a one-sided rally from Rs 570 to Rs 790, the stock has been in a corrective mode since past few sessions. In recent session, the stock displayed sharp recovery and the pattern resembles a reversal candlestick. On the daily scale we are witnessing golden crossover of 50-Day SMA with 200-Day SMA, which indicates a bullish move for medium term.
Analyst: Mehul Kothari, Anand Rathi
Agencies
Stop Loss: Rs 605
Targets: Rs 660/670
After a recent breakout, the stock has retested the support zone of Rs 630-620. On the daily chart, it has formed a reversal candle near its 20-day moving average. RSI indicator on the daily chart is showing signs of a fresh breakout.
Analyst: Kunal Shah, LKP Securities
Agencies
Stop Loss: Rs 2,110
Targets: Rs 1,980/1,960
The stock has given a consolidated range breakdown with massive volumes. It also witnessed a fresh short position with an open interest increase by 18 per cent and a price decrease by 4.26 per cent. The downside momentum is likely to continue in the short term.
Analyst: Kunal Shah, LKP Securities
Agencies
Stop Loss: Rs 3,430
Target: Rs 3,550
The stock is making consolidation in a 15-minute time frame.
Analyst: Vijay Danotiya, CapitalVia Global Research
Agencies
Stop Loss: Rs 4,375
Target: Rs 4,400
The stock is making consolidation in a 15-minute time frame. We see a close above 50 and 100 moving averages. It is sustaining above the resistance level and a good movement with a large volume can happen in the coming week.
Analyst: Vijay Danotiya, CapitalVia Global Research
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)
Agencies
