The previous close of 73,502.64, the opening value of the Sensex was 73,516.42. Throughout the day, it fluctuated, reaching an intraday high of 74,004.16 and a low of 73,342.12. With 22 companies closing down, the 30-share pack index finished the session 165 points, or 0.22%, higher at 73,667.96.
A fierce battle between bulls and bears continued during the Nifty index trading session. In a tumultuous trading session, buying in a few frontline stocks helped important benchmarks close in the green, despite widespread selling on the markets, particularly in real estate, power, and capital goods companies.
1- Tata Consultancy Services:
- Buy- ₹4192.25
- Target- ₹4400
- Stop loss ₹4075
At the present trading level of 4192.25, Tata Consultancy Services (TCS) exhibits a strong technical basis. A strong support foundation can be seen at 4075 in the chart analysis, which is also in proximity to the 20-day Exponential Moving Average (EMA). Significant purchasing interest is indicated by this support level, indicating a strong foundation for future increases. Positive momentum is shown by the Relative Strength Index (RSI) at 62.90, which suggests that there is room for more growth without becoming overbought. TCS affirms the continuation of its strong trend by trading above all significant moving averages, demonstrating its strength. For the purpose of making wise decisions regarding their trading tactics, traders and investors could find it helpful to keep an eye on these levels of support and resistance. Given the technical aspects and the state of the market, purchasing TCS at the CMP of 4192.25 levels seems to be a favorable option. This trade would have a target of 4400 and a suggested stop loss of 4075.
2- Indigo:
- Buy- ₹3242.95
- Target- ₹3450
- Stop loss ₹3150
The stock price of INDIGO is at present at ₹3242.95 and has lately displayed a bullish engulfing candle pattern. Additionally, at 62, the Relative Strength Index (RSI) shows an upward trend and growing interest in purchasing the stock. It is a good idea for investors to purchase INDIGO at the present market price in order to benefit from these encouraging signs. To adequately control risk, a stop-loss should be placed around ₹3150. In the event that the market abruptly reverses, investments will be better protected by this stop-loss level.
In summary, with a target price of ₹3450, INDIGO offers investors a favorable chance. Nonetheless, in order to protect their investments, investors need to exercise caution and use the right risk management strategies.
3- Ugro capital:
- Sell- ₹248-249
- Target- ₹238
- Stop loss- ₹253
A sell advice is made with targets up to Rs. 238 because Ugro Capital is breaking down of a pattern that is symmetrical on the daily timescale and creating a bearish candlestick. On a daily closing basis, one can start selling on rising in the 248–249 region with a stop loss below 253. The asset is showing an upward trend as the price is trading below the short-term EMA (20). In support of the price movement, the RSI is currently trading in a southern direction.