Nifty 50 in the Indian stock market opened with a fall of 0.40% on Tuesday, November 18, after six consecutive days of rise. Although the index had regained the level of 26,000 in the last session, the impact of the weakness in the global market was visible.
In Asian markets, Japan’s Nikkei and Korea’s Kospi fell by 3%. Selling was also seen in the global market due to reduced expectations of rate cut from the US Federal Reserve next month.
What do experts say?
Market experts believe that the market may remain volatile in the short term due to global factors. However, domestic fundamentals are strong and there is good upside potential in the medium term.
technical view
According to Anand James, Chief Market Strategist of Geojit Investments, efforts are on to decide the direction in the market. If the levels of 26,130 and 25,840 remain intact, a fall to 25,980 or 25,900 is possible, after which there may be a rise again.
Top 6 Stock Picks for the Next 1-2 Weeks
1. Sun Pharma – Strong stock in pharma sector
Target Price: ₹1,860 and ₹1,890
Stop Loss: ₹1,675
Why buy:
Sharp increase in breakout volume from falling trendline resistance on weekly charts, indicating buying strength Bullish crossover in 21-week and 50-week EMAs signals end of consolidation phase
According to Vishnu Kant Upadhyay, AVP at Master Capital Services, this breakout signals the beginning of a new uptrend.
2. Tata Communications – Telecom powerhouse
Target Price: ₹2,020 and ₹2,100
Stop Loss: ₹2,045
Why buy:
Clean breakout from key horizontal resistance RSI trading above all major EMAs in bullish territory and MACD is positive ADX is showing strong directional bias
3. Mahindra Lifespace Developers – Opportunity in real estate
Target Price: ₹430 and ₹440
Stop Loss: ₹379
Why buy:
Decisive breakout from consolidation base. Position is strong higher low sequence above all key EMAs. RSI and MACD show signs of improvement.
4. Marico – Shine of FMCG Sector
Target Price: ₹830
Stop Loss: ₹715
Why buy:
Sharp breakout from sideways range on weekly chart Trading above 20, 50 and 200 EMAs Highest volume breakout in last 30 days RSI at 66.75, momentum rising
Choice Broking’s Research Analyst Hitesh Taylor says that there is strong support near ₹720.
5. Hero MotoCorp – Leader of auto sector
Target Price: ₹6,300
Stop Loss: ₹5,500
Why buy:
higher-high, higher-low structure intact Sharp rebound from recent lows after breaking key resistance zone Further upside possible if sustained above ₹5,800
6. HUDCO – Housing Finance Boom
Target Price: ₹265
Stop Loss: ₹225
Why buy:
Symmetrical triangle pattern is being formed, strong support at 200-day EMA i.e. ₹ 225, bullishness decided on breakout above ₹ 240, RSI at 63.01, bounce from lower level.
Be careful before investing
This information is for educational purposes only. Before investing in the stock market, definitely consult your financial advisor. These views are those of individual analysts or broking firms.
Don’t forget to follow the stop loss – it helps limit your losses.