GAIL, LTTS among Vinay Rajani's stock picks today; Check Nifty outlook here

Stocks to Buy Today, Feb 5: LTTS share price has broken out from a bullish 'Inverted Head and Shoulder' pattern on the daily chart

Nifty Today, February 5:

 

After two sessions of pause, the Nifty index resumed its upward movement on Tuesday, gaining 378 points, or 1.62 per cent, to close at 23,729. This strong up move has pushed the Nifty above its 50-day and 200-day exponential moving averages (EMA) on a closing basis. However, a crucial resistance level is formed by the downward sloping trend line, connecting the all-time high made in September 2024 and the intermediate lower highs from December 2024. This suggests strong resistance somewhere between 23,750 and 23,800. 

 

If the Nifty surpasses 23,800, it could remove the last barrier, potentially extending the rally towards the 24,200 resistance level. On the downside, 23,500 may provide support in the short term.

 

 

Stocks to Buy Today, February 5, 2025:

 

Buy LTTS (CMP: Rs 5,530) | Target: Rs 5,800 | Stop-loss: Rs 5,273

LTTS share price has broken out from a bullish 'Inverted Head and Shoulder' pattern on the daily chart. Primary trend of the LTTS stock is bullish as it is placed above all important moving averages. Indicators and oscillators have been showing strength in the current uptrend.

 

Buy Gail (CMP: Rs 178) | Target: Rs 186 | Stop-loss: Rs 170

GAIL (India) share price has broken out from a downward sloping trend line on the daily chart. PSU stocks have bounced back sharply after sharp cut from the recent highs. Gail stock price has surpassed 20-days EMA resistance.

     

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Disclaimer: Vinay Rajani is CMT, senior technical and derivative analyst at HDFC securities. Views expressed are his own.