FRESH BUYING
Stock Radar: Wipro hits fresh multi-year highs! Cup & Handle pattern breakout; time to buy?
Wipro has surged nearly 30% since June 2024, breaking out from a Cup & Handle pattern. Short-term traders advised to consider buying with a target above Rs 600. Stock shows bullish momentum and positive price stability. Expert recommendations highlight potential further gains with a stop loss at 525.
Stock Radar: HOEC breaks out from inverse Head & Shoulder pattern; likely to hit fresh 52-week high
HOEC broke out from an inverse head and shoulders pattern after nearly four months of consolidation on daily charts. Experts foresee potential for the stock to reach around Rs 270 in the next 1-2 months. The stock hit a 52-week high of Rs 258 on August 11, 2023, but failed to maintain momentum, undergoing a correction for nearly 6 months.
Should investors make fresh bets in FMCG stocks? Rajat Sharma answers
I think in the last 15-20 years, since I have been—18 years to be precise—since I have been looking at the market, I have never seen this kind of bullishness and fundamentals as strong as we have right now.
Stock Radar: Cholamandalam Finance Holding hits fresh record high in July; time to buy or book profits?
Cholamandalam Financial Holdings stock is poised for remarkable growth, breaking free from a volatility pattern to soar towards the 1700 target. Investor interest surges as bullish momentum indicators align, with a strategic stop loss at 1270 ensuring risk management. The stock's chart structure and ratio analysis against NIFTY only reinforce its upward trajectory.
Nifty Bank hits fresh record high, climbs above Mt 53K; use dips to buy: Experts
HDFC Bank, Kotak Bank, Federal Bank and Bandhan Bank saw heavy buying while AU Small Finance Bank saw selling pressure. The bank index breached its crucial resistance level of 53,000, triggering a short covering move in the index. Traders are advised to use dip to go long in the index.
Stock Radar: GHCL breaks out of Triangle Pattern, eyes fresh 52-week high
GHCL, a small-cap chemical stock, hit a 52-week high in September 2023 but subsequently declined. After bottoming out in March 2024, the stock regained momentum but failed to sustain it. It witnessed resistance above 500 levels but found support above 50 and 100-DMA in May and June, respectively, on the daily charts. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100, and 200-DMA — a positive sign for the bulls.
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Stock Radar: ICICI Bank hits fresh record high in June; should traders buy, sell, or hold at current levels?
ICICI Bank Ltd, part of the private banking sector, broke out from a 2-month consolidation range to achieve a fresh record high in June 2024. Short to medium-term traders are advised to consider buying the stock with a target above Rs 1,300 levels in the next few weeks, according to experts.
Stock Radar: Indian Hotels rallies over 70% in 1 year to hit fresh record high; time to buy or book profits?
In a remarkable turnaround, the hotel stock surged from ₹380 on June 23, 2023, to ₹649 on June 26, 2024, a staggering 70% increase within a year. However, the rally lost some steam in the latter half, peaking at ₹602 in February 2024 before facing resistance. The stock subsequently consolidated within a range, finding support at ₹480-500 and facing resistance at ₹600-622.
Stock Radar: 20% rally in 3 months! City Union Bank hits fresh 52-week high in June; time to buy or book profits?
City Union Bank (CUB) has surged over 20% in 3 months, supported by technical indicators like RSI and MACD. Analyst Shilpa Rout sees a short-covering rally potential above 170 levels with 150 as a key support.
Stock Radar: Cholamandalam Investment hit fresh record high in June; should you buy, sell or hold?
Cholamandalam Investment gained over 10% in a month and hit a record high on June 19, but underwent mild correction. The chart pattern suggests more steam left in the stock. The mild profit-booking seen in the stock price can be used as a buying opportunity as long as it is trading above the neckline of a range breakout above 1,300-1,380 levels.
Stock Radar: D-Mart hits fresh multi-year high in June 2024; time to buy the dip or book profits?
Traders are advised to consider a retest target of Rs 5100 for Avenue Supermarts (D-Mart) with a stop loss below 4770 on a closing basis. Recommendations in the article do not reflect the views of the Economic Times.
Stock Radar: Indian Hotels hit fresh record high in June; experts suggest buy on dips
After rising over over 50% in the last 1 year, the hotel stock has underwent mild time-wise correction since April and is stuck in a range where 622 acted as a stiff resistance on the upside while 500 acted as a support. The recent momentum has lifted the stock to hit a fresh record high of Rs 626 on June 18, 2024, but it lost its steam on Wednesday, in line with the market trend. However, dips towards 605-610 can be used as a buying opportunity, and a close above 622 will take it towards 650 levels.
Stock Radar: Container Corp hits fresh record high in June; time to buy the dip?
The logistics stock, after hitting a record high of Rs 1,193 on June 4, experienced a temporary setback. However, it quickly found support at its 200-day exponential moving average, triggering a strong rebound. The stock reclaimed its 50-day moving average and surged over 14% in a week, climbing from Rs 993 on June 5 to Rs 1,141 on June 12.
Fresh tailwinds of export markets: 5 stocks from engineering sector, 4 with upside potential of up to 30%
They say that tough times bring the best out of some. In case of India Inc, there are many examples where the economic slowdown post 2008 global financial crisis, made companies deal with all kinds of troubles and after various permutations and combinations they were able to find solutions, first to survive and then grow. In the case of engineering companies where the role overlapped to some extent with capital goods, it was the export market which turned out to be the solution. Because it is not easy to venture into the export market as there are large global players who ensure that it is not easy to get into their turf. For some companies it was a long drawn process which is now delivering results and leading to a situation where the return on capital and effort employed is much better today.
2 top stock recommendations from Soni Patnaik for near term
The first pick would be in the pharma space, we are seeing quite good momentum here today, so pharma you can see Syngene which is giving you a good fresh breakout above 700 level so I think it is looking quite positive from current levels to test higher targets of 720, 725.
10 Best Perfumes for Dads for Father's Day 2024
Make this Father's Day even more wholesome by giving your father something that he will cherish and make use of. Perfumes are a great option you can consider going for; a premium fragrance can help him enhance his self-care as well as his fashion regime. Here is a well-curated list of 10 best perfumes from leading brands like Davidoff, Adidas, Guess, Versace, and others.
Stock Radar: Canara Bank a safe bet to beat election result volatility; scrip hits fresh 52-week high in June: Shilpa Rout
A decisive close above 120 levels is likely to open room for the stock to hit fresh 52-week highs up to 135-140 levels in the next few weeks, suggest experts. The stock has remained flat in the last three months but witnessed strong price action on Monday in intraday trade. The stock closed at Rs 118 on May 31, 2024.
Election recommendations: Bank of Baroda, 4 more stocks are IIFL's fresh ideas to win
Now that the exit polls predict a thumping win for the Prime Minister Narendra Modi-led National Democratic Alliance (NDA), IIFL Securities has identified five new stocks which it said are its election recommendations.
Stock Radar: Up 40% from March lows! V-shaped recovery pushes FMCG scrip to fresh 52-week high in May
Shares of FMCG major Emami hit a high of Rs 588 on January 1, 2024, but failed to hold the momentum on daily charts. The scrip witnessed a steep fall toward 400 levels and quickly bounced back. Short-term traders can look to buy the stock now for a target of Rs 725 over the next 1-2 months, advise experts.
Stock Radar: 50% rally in 6 months! This railway stock could hit fresh record highs soon; time to buy?
The stock has breached a 4-month consolidation and this has made room for it to head towards 1,200 levels. If the momentum continues, the stock could hit fresh record highs. The railway stock rose from Rs 696 as of November 28, 2023, to Rs 1,101 on May 27, 2024, which translates into an upside of 58%.
Fresh leg of rally starting at FMCG counter; 2 stocks to bet on: Aditya Arora
Aditya Arora recommends buying Marico at Rs 607.80 with a stop loss at Rs 580 and a target of Rs 630 to 670. He also likes Godrej CP trading at Rs 1,325 with a stop loss at Rs 1,280 and a target of Rs 1,360-1,400. Aditya Arora discusses the positive outlook on Nifty FMCG.
Stock Radar: Time to buy? Britannia Industries gives breakout from falling channel; poised for record high
Britannia stock hit a record high of Rs 5,386 on December 29, 2023, but the momentum fizzled out and the stock had declined since then. It bottomed out in April 2024 after hitting a low of 4,643. From there it charted a course of steady recovery and crossed 5,000 levels in May.
Stock Radar: FMCG stocks in action! Range breakout takes Godrej Consumer to fresh record high
GCPL shares moved in a range from February 1, when it hit a high of around Rs 1,300, and since then, the stock has been in a consolidation mode on the daily charts. The stock found support above Rs 1,100 levels. Short-term traders can look to buy the stock now for a target above Rs 1,500 in the next 6-7 weeks, suggest experts.
Stock Radar: GAIL India rallies over 60% in 6 months, likely to surpass 200 levels to hit fresh high
The price action suggests that stock made a strong base and can witness a bounce back which could take it to a fresh record high above 200 levels, according to experts. GAIL shares rose from Rs 124 on November 8, 2023, to Rs 201 on May 8, 2024, an upside of over 60%.
Stock Radar: Multibagger in 1 year! This metal & mining stock hits fresh multi year high in May; time to buy?
NMDC's stock performance saw a significant surge, doubling investors' wealth in the metals and mining sector. The breakout to a multi-year high attracted short-term traders eyeing a Rs 355 target, supported by bullish indicators like RSI and MACD.
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