By RAs on Stocktwits
Last week, the NIFTY50 exhibited notable volatility primarily influenced by global cues. Last Monday, the Nifty50 opened with a gap up at 22,100. Despite reaching a low of 21,875 during the week, it consistently set new all-time highs each day, culminating in a record peak of 22,297.5 during the opening minute on last Friday.
Looking ahead to this week, the Nifty50’s critical support level is identified at 21,800. Analyzing the data from the last week, with the Nifty50 closing near 22200, there is a bullish sentiment. The robust price action observed suggests the possibility of Nifty reaching towards the 22,500 mark in the coming few days.
Here are the top stock recommendations
DLF by Punam Kucheria
CMP: 900 | Target: 1,050 | Stoploss: 815
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There is a strong indication of a resurgence in the residential real estate cycle, marking the first instance since 2013 where we observe not only a substantial increase in transaction volumes but also noticeable nationwide price hikes. From our perspective, this signifies the initiation of a fresh residential real estate cycle. While realty shares have already shown strong gains, it appears that it’s still not too late to enter the theme.
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One company we consider in this regard is Real Estate giant DLF. Looking at the weekly technical levels, DLF faced significant resistance at 815. In the first week of February, DLF broke that resistance and exhibited a strong run, surpassing 900 levels. As this week concludes, DLF is closing near the 900 levels, creating favorable conditions for further potential. One may consider initiating a buy trade at the current market price of 900, with a stop-loss set at a weekly close below 815 and a target of 1050.
Titan by Vipul H. Ramaiya
Buy: 3,695 | Target: 4,292 – 4,799 | Stoploss: 3,501
Shares have recently turned higher from a key inflection point: A long-term uptrend support line off the March ’23 low. The series of higher highs & higher lows remains intact, along with positive near-term momentum and volume trend.
Trade Setup: The current price level (Rs. 3,695) appears to be a good spot to initiate fresh long exposure with a stop loss around 3,501 targeting Rs. 4,292 (T1) and Rs. 4,799 on the upside. Expected time horizon is 3 to 6 months.
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Astral by Arpan Malu
CMP: 2,075 | Target: 2250-2500 | Stoploss: 1,950 weekly closing basis
With risk reward 1:2.5-4 RSI & MACD showing strength & momentum in every timeframe of stock. The stock gave weekly close at ATH levels with great volumes. Also a Flag & pole breakout in monthly chart gives confidence to go long for short term (4-6 weeks)
(Views expressed are author’s own. Please consult your financial advisor before investing.)
