Market Trading Guide: Bajaj Auto amongst 6 stock suggestions for Monday

30 Jul 2023, 02:35 PM IST Indian equities on Friday ended on a weak note in a variety bound trade for the 2nd successive day. Sensex settled with a cut of 107 points at 66,160, after falling listed below 66,000 in intraday trade for the very first time in 2 weeks, whereas Nifty ended with a small cut of 14 points at 19,646. Wider markets continued to exceed their heading peers. with the Nifty Midcap 100 index notching a fresh all-time high.”Nifty stayed variety bound for the day, while discovering an assistance at 21 EMA. From the existing level till the Nifty breaks listed below 19550 no directional down relocation is anticipated or the marketplace might not favour aggressive shorts. On the other side, listed below 19550 the index might fall towards 19300. Resistance on the greater end is positioned at 19700,” Rupak De, Senior Technical expert at LKP Securities, stated Here are stock suggestions for Monday: ETMarkets.com 2/7 Bajaj Auto: Buy|CMP: Rs 4892.50|Target: Rs 5020|Stop Loss: Rs 4815On a 4h timespan, the rate has actually been increasing constantly in a bullish pattern with Higher Highs and Higher Lows development. In addition, the stock has actually been constructing simply above the Ichimoku cloud suggesting that the bullish pattern might continue in the near term. The sign Stoch RSI recommended a favorable crossover validating long position(Mahesh Prakot, Research Analyst, Bonanza Portfolio) ETMarkets.com 3/7 Maruti Suzuki August Futures: Sell|CMP: Rs 9637|Target: Rs 9400|Stop loss: Rs 9750On a day-to-day chart, the stock has actually experienced a rejection from its perpetuity high. In addition, the rate has actually formed bearish flag pattern simply listed below the previous supply zone suggesting bearish pressure from top. Based on the moon cycle, presently the rate has actually been selling the unfavorable zone which includes more bearish strength to the cost(Mahesh Prakot, Research Analyst, Bonanza Portfolio) ETMarkets.com 4/7 Tata Power: Buy at Rs 235|Stop Loss: Rs 220|Target: Rs 250/260The stock has actually experienced a considerable breakout on the day-to-day chart, accompanied by a sharp rise in volumes. The momentum
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