Buy or sell: Stock Markets Futures recommends 3 stocks to buy next week

Stock Markets Futures has recommended 3 stocks to buy on Monday — Titan, DLF and AB Capital

Due to robust global market signals, the Indian stock market saw its second consecutive session of growth last Friday. The Nifty 50 index surged by 107 points, closing at 19,653, while the BSE Sensex climbed 364 points, concluding at 65,995. Additionally, the Bank Nifty index finished 147 points higher, reaching 44,360. Alongside the Nifty, broader market indices also witnessed an increase, with the advance-decline ratio extending to 1.88:1.

In the upcoming week’s stock market strategy

According to Stock Markets Futures,in the Indian stock market following the participation of broader market indices in Friday’s rally. Choice Broking’s expert suggests that, to establish a new bullish trend on Dalal Street, the Nifty 50 index should aim to surpass the 19,850 hurdle on a closing basis.

As previously noted, Stock Markets Futures is advising 3 stocks for purchase on Monday. Below, we provide comprehensive details regarding Stock Markets Futures stock recommendations:

1] Titan Company: Buy at ₹3310-Target ₹3500-Stop loss ₹3140.

Titan’s current stock price stands at ₹3309.75, exhibiting a recent pattern of consolidation within the range of ₹3140 to ₹3210 over the past five days. This consolidation hints at the potential for a breakout in the near future.

One key factor to note is the robust support at ₹3140, closely aligned with the 50-day Exponential Moving Average (EMA). This convergence of support levels suggests strong buying interest, serving as a sturdy foundation for the stock’s value.

On the upside, resistance is expected around ₹3350. A breach and sustained trading above this level could indicate a bullish momentum shift, possibly driving the stock towards the target price of ₹3500, which would establish a new all-time high.

Additionally, the formation of a compelling bullish candle on the daily chart and the Relative Strength Index (RSI) comfortably residing at 62 levels both signify positive momentum and the potential for upward movement in the stock. Collectively, these factors imply that TITAN might be on the cusp of a bullish trend, provided it can overcome resistance levels and maintain its upward trajectory.

Our recommendation is to purchase Titan shares at the current market price of ₹3309.75, and it can also be added up to ₹3200 for a medium-term outlook. Set a stop loss at ₹3140 to mitigate risks, with a target price of ₹3500 in mind.

2] DLF: Buy at ₹548-Target ₹581-Stop loss ₹530.

DLF’s stock price presents compelling technical indicators, pointing toward a potential bullish trajectory. Recently, the stock experienced a breakout on the daily time frame, supported by a strong trendline. Notably, DLF has successfully surpassed critical short, mid, and long-term moving averages, including the 20, 50, 100, and 200-day exponential moving averages (EMA), underscoring a robust upward momentum.

Moreover, the Relative Strength Index (RSI) stands at a healthy 64, indicative of favorable buying strength. Additionally, the Average Directional Index (ADX) registers a robust reading of 21, confirming the strength of the current trend.

Given these compelling indicators, a long position in DLF Ltd. at ₹548 is advisable, with a well-placed stop-loss at ₹530 to manage potential downside risks. The target price is set at ₹581, in alignment with the current bullish sentiment and robust technical analysis.

3] Aditya Birla Capital or AB Capital: Buy at ₹185.50-Target ₹196-Stop loss ₹173.

Aditya Birla Capital’s current trading price is ₹185.50, and a closer look at the daily chart reveals that it is trading within the supportive boundaries of a daily channel, displaying promising price action for a potential reversal. What’s more, Aditya Birla Capital is presently trading above critical Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs, signaling robust bullish momentum and the potential for further upward price movement.

The Relative Strength Index (RSI) is currently at 51.1 and trending upwards, indicating a growing buying momentum. Additionally, the Stochastic Relative Strength Index (Stoch RSI) recently underwent a positive crossover from the oversold region. The combination of these technical indicators suggests that Aditya Birla Capital shares have the potential to reach the target price of ₹196 in the near term.

To effectively manage risk, it is advisable to implement a stop-loss (SL) at ₹173, providing protection for your investment in case of an unexpected market reversal. In summary, considering the technical analysis and current market conditions, Aditya Birla Capital presents an attractive buying opportunity for those targeting a ₹196 price target, with prudent risk management measures in place.

Disclaimer:

The records supplied in this article is for informational functions only.The stock market, which include futures buying and selling, involves inherent risks, and it is critical to behavior thorough research and recall your economic conditions and danger tolerance before making any investment picks.