Business News Desk – After falling 2.71 percent in five consecutive trading days, Nifty 50 had strengthened by 1.18 percent in two trading days. This brought happiness back to the market, but then the 1.07 percent fall in two days disappointed the investors. According to experts, the market may once again see a good recovery. If we talk about individual stocks, there are some stocks which have breakout, in such a situation you can earn huge profits by investing money in them at the current level. View the list of stocks and their trading strategies.
City Union Bank Current Price: ₹ 175.60
Chandan Tapadia, Head (Equity Derivatives & Technicals, Wealth Management), Motilal Oswal Financial Services, says City Union Bank is again touching its breakout from the consolidation zone and with high volumes. Due to this, there are signs of bullishness again. Positive signals are also coming from the technical indicator RSI. Chandan recommends investing with a target of Rs 187 with a stop loss of Rs 170. According to Chandan, Laurus Labs has broken the double bottom pattern. There is a buying environment in the entire pharma sector, which will also support Laurus Labs. The ADX (Average Directional Index) line has gone up, which has supported the rise. By applying stop loss of Rs 478, you can take a position at the target price of Rs 518.
Max Financial Services | Current Price: ₹1283.10
Max Financial Services is in a strong uptrend. Buying is giving support on slight decline. The MACD (Moving Average Convergence Divergence) indicator has made a bullish crossover, confirming the uptrend. By placing stop loss at the level of Rs 1250, you can achieve the target of Rs 1350.
IRB Infrastructure Developers | Current price: ₹51.82
According to Amol Athwal, Vice President (Technical Research), Kotak Securities, IRB Infra Developers is currently accumulating and has been moving up and down in a range in the last few trading days. Now the charts and technical indicator RSE are indicating a breakout. It may see a bullish trend in the near future and buy it at a target of Rs 56. Place stop loss at Rs 49 level.
SBI Life Insurance Company Current Price: ₹1622.95
After a spectacular rally, shares of SBI Life Insurance Company witnessed profit booking at higher levels. According to Amol, however, now the downward trend seems to be stopping and it has found support near the important retracement zone. Due to this, there are signs of bullishness in the coming trading days. In this, you can bet at the target price of Rs 1730, but definitely put a stop loss of Rs 1560.
Punjab National Bank (PNB) Current Price: ₹97.85
Shares of Punjab National Bank have been in decline for a long time and now it has come into the oversold zone. According to Amol, the charts and technical indicator RSI indicate that the stock may now climb above the demand zone. You can buy it at a target price of Rs 106 with a stop loss of Rs 93.
Asahi India Glass | Current Price: ₹749.65
According to Hardik Matalia, derivatives analyst at Choice Broking, Asahi India Glass has made a breakout, due to which it is showing bullish signs. This has been supported by the increase in volume activity. If this stock remains above Rs 755 then it can go up to Rs 825. Make sure to put stop loss at the level of Rs 715.
Vedanta Fashion | Current price: ₹1401.10
Vedanta Fashion was consolidating near the resistance level and has now broken. For the last few months, it has continuously made higher highs and higher lows, which are indicating bullishness. It is getting support from increasing volume activity. If this stock remains above the level of Rs 1410 then it can reach the level of Rs 1540. For investment, definitely set stop loss at the level of Rs 1335.
BEML | Current Price: ₹4067.85
BEML looks like a good buying opportunity. It is continuously consolidating in a larger range and is now ready to break out on the daily chart. It is also getting support from volume activity. If it maintains the level of Rs 4150 then it can reach the level of Rs 4490. On the downside, it is getting support at the level of Rs 3980 and if it comes here then there will be an opportunity to buy again at this level. It can be bought for a target of Rs 4490 by placing a stop loss of Rs 3880.
