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Market Trading Guide: Paytm among 6 stock recommendations for Tuesday – Stock Ideas – Economic Times


11 Jul 2022, 07:20 PM IST


Stock Ideas

The benchmark indices snapped their 3-day winning run on Monday, dragged by tech stocks as Tata Consultancy Services missed estimates for the June quarter results. The 30-share pack Sensex recovered intraday losses and settled 87 points lower at 54,395. Its broader peer, Nifty50, ended with a negative bias but managed to hold the 16,200 mark.

“India’s June inflation data is expected to remain in line with May’s inflation rate of 7.04 per cent. Meanwhile, the US inflation data due on Wednesday is expected to show a further increase from its current peak level of 8.6 per cent during May,” said Vinod Nair, Head of Research at Geojit Financial Services.

Here are the top six stock recommendations which analysts suggest:

ThinkStock Photos


Buy: Rs 272.50Target: Rs 287
Stop Loss: Rs 264

The stock on the daily chart has moved above its previous swing high, suggesting a rise in positivity. Besides, the price has sustained above its near-term moving average. The daily RSI is in a bullish crossover.

Analyst: Rupak De, LKP Securities


Torrent Power


Torrent Power

Buy: Rs 492
Target: Rs 520
Stop Loss: Rs 479

The stock has moved above its recent consolidation on the daily chart suggesting a rise in bullish bets. Also, the stock has sustained above 50-EMA. The daily RSI is in a bullish crossover.

Analyst: Rupak De, LKP Securities


Buy: Rs 709
Target: Rs 796
Stop Loss: Rs 676

Paytm has approached a weak resistance from where it can reach higher levels. The stock has formed a base and is slowly forming higher highs and lows.

Analyst: Manoj Dalmia, Proficient Equities

ET Bureau & Agencies

Tata Chemicals


Tata Chemicals

Buy: Rs 843
Target-Rs 951
Stop loss- Rs 789

The stock has reached a base area. Although the price has moved a bit, entry can be taken though. We can see a move considering price action.

Analyst: Manoj Dalmia, Proficient Equities



Buy: Rs 940
Targets: Rs 1040/1083
Stop loss: Rs 864

Technically speaking, the stock is in the consolidation phase whipsawing in the range of Rs 900-960 levels. In March 2022, the stock triggered its new 52 week high near Rs 1,083 levels, post which we see minor corrections that are indicating more headroom on the upside. Current prices are ideal to accumulate the stock with crucial support near Rs 865 levels.

Analyst: Ravi Gangan, Mehta Equities


Axis Bank


Axis Bank

Buy: Rs 680
Target: Rs 770
Stop Loss: Rs 625

Axis Bank is witnessing a two weeks winning streak with prices forming higher and higher lows. With this continuous uptrend, the stock is ideal for buying now, with positive traction seen towards Rs 770 or higher levels. Rs 625 will be the support level from where prices have reversed on the upside several times in past sessions.

Analyst: Ravi Gangan, Mehta Equities

(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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