On Saturday’s special trading session, the Indian stock market entered a consolidation phase following the prior two days’ respectable upward comeback from the lows. The BSE Sensex dropped 77 points to conclude at 71,423 while the Nifty 50 index finished 49 points lower at 21,571 level. On the other hand, the Bank Nifty index closed at 46,058 after gaining 316 points.
Stocks To Buy Today:
1- Union Bank Of India
Buy- ₹141.80
Target- ₹156
Stop loss- ₹136.50
The Union Bank of India share has recently shown considerable strength and upward momentum during high volume trading sessions. The stock, which is currently trading at about ₹141.80, has effectively recovered from a support area around ₹134 and is now in tight alignment with its 20-day Exponential Moving Average (EMA). This rebound not only shows the stock’s tenacity but also points to an upward trajectory.
2- Coal India
Buy- ₹399
Target- ₹430
Stop loss ₹386.
In recent trading sessions, the Coal India share has shown strong strength and upward momentum, accompanied by substantial volume. According to the most recent data, the stock is trading at about ₹399, indicating a notable bounce from a support area at ₹382. Its 20-day Exponential Moving Average (EMA), which shows the stock’s durability and a bullish trend in its trajectory, is closely aligned with this rebound.
3- NCC
Buy- ₹205
Target- ₹215
Stop Loss- ₹196
The stock exhibits a positive reversal pattern in the short-term trend; technically, a pullback could occur up to ₹215. As a result, if the stock maintains its support level at ₹196, it may soon rise to ₹215 levels. For the target price of ₹215, the trader can therefore go long with a stop loss of ₹196.
4- Adani Enterprise
Buy- ₹2985
Target- ₹3040
Stop loss- ₹2940
The stock has a positive reversal pattern in the short-term trend; technically, a pullback might occur up to ₹3040. Thus, if the stock maintains its support level at ₹2940, it may move higher in the near future, maybe reaching ₹3040. For the target price of ₹3040, the trader can therefore go long with a stop loss of ₹2940.
5- NLC India
Buy- ₹242
Target- ₹255
Stop loss ₹235.
Over the past three months, the stock has had a respectable rally that suggests a solid uptrend that is resisting at the top level of 266. After a brief drop, the company has produced a higher low pattern on the daily chart that is taking support about ₹215 levels. Following a retreat, it has gained strength again, and the RSI has cooled off from the overbought zone. At this point, the indicator is in a good position, suggesting a trend reversal and a buy signal. With a bullish candle formation now, the chart appears appealing, and we advise purchasing this stock with a stop loss around ₹235 and an upward objective of ₹255.
