Don't miss out on these 2 stock picks from HDFC Securities; details inside
Nifty remains in a downtrend as it has been trading below all key moving averages. Supports for the Nifty are seen at 24540 and 24400.
 "Don't miss out on these 2 stock picks from HDFC Securities; details inside")
Nifty View
Nifty remains in a downtrend as it has been trading below all key moving averages. Supports for the Nifty are seen at 24540 and 24400. On the upside, 24791 and 24908 could offer resistance in case of pullbacks.
Buy Hindustan Zinc: ₹482 | Target: ₹505 | Stop-loss: ₹470
Stock price has surpassed long-term moving averages. Golden Moving averages Crossover is registered by the stock price. Metal sector has been outperforming and the same is expected to continue.
Buy L&T Finance: ₹249.3 | Target: ₹260 | Stop-loss: ₹244
Stock price has given breakout from “Flag” pattern on the daily chart. Price breakout is accompanied with jump in volumes. Stock is placed above all key moving averages, indicating uptrend on all time frames. Daily RSI is sustaining above 50, indicating sustained uptrend for the underlying.
(Disclaimer: Vinay Rajani is a senior technical and derivative analyst at HDFC Securities. Views expressed are his own.)