Indian benchmark indices barely managed to end higher on Thursday, thanks to the profit booking in the fag-end session. Investors turned cautious over sanctions on Russian oil and possible delay in the India-US trade deal announcement.
BSE Sensex rose 130.06 points, or 0.15 per cent, to settle at 84,556.40, while NSE’s Nifty50 added 22.80 points, or 0.09 per cent, to close at 25,891.40 for the day.
Select buzzing stocks including Union Bank of India, Crompton Greaves Consumer Electricals and ITC are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say about these stocks ahead of Friday’s trading session:
ITC | Buy | Target Price: Rs 437-445 | Stop Loss: Rs 396
ITC has formed a classic double bottom pattern and recently gave a breakout, signaling renewed bullish momentum. The stock is trading above both the 21-day and 55-day EMA, confirming medium- and short-term strength. The MACD is in positive territory, further supporting the upside bias. Price action indicates that ITC has built a strong base, suggesting sustained buying interest. Overall, technical indicators point to potential further gains, making the stock attractive for traders looking for a bullish opportunity in the near term.
Union Bank of India | Buy | Target Price: Rs 153-156 | Stop Loss: Rs 135
Union Bank has shown a bullish breakout from a rectangular channel on the upside, supported by strong momentum in banking stocks. The stock is trading above both the 21-day and 55-day EMAs, confirming positive technical strength. This breakout was accompanied by a significant surge in volumes, indicating strong buying interest. Additionally, the MACD indicator is positive, reinforcing the bullish trend.
Crompton Greaves Consumer Electricals | Buy | Target Price: Rs 308-317 | Stop Loss: Rs 276
Crompton Greaves is currently forming a solid base near its previous horizontal support zone, signaling potential for a bullish reversal. The RSI has moved out of the oversold territory, indicating improving momentum, while the recent MACD crossover reinforces the positive trend. Additionally, the recent price decline occurred on relatively low volumes, suggesting weak selling pressure. These technical factors collectively point to a strong setup for upward movement, presenting a favorable entry opportunity for investors.