Indian benchmark indices extended their weakness for the fifth trading session and settled lower on Tuesday amid the consistent FIIs outflows and uncertainty around the US-India trade deal.
Feeble global cues also dented sentiments. BSE Sensex tanked 555.95 points, or 0.68 per cent, to settle at 81,159.68, while NSE’s Nifty50 plunged 166.05 points, or 0.66 per cent, to close at 24,890.85 for the day.
Select buzzing stocks including Larsen & Toubro (L&T), Godrej Consumer Products (Godrej CP) and City Union Bank are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP -Research & Advisory at Master Capital Services has to say about these stocks ahead of Friday’s trading session:
City Union Bank | Buy | Target Price: Rs 227-230 | Stop Loss: Rs 202
City Union Bank has shown a strong technical setup with prices giving a decisive breakout above the falling trendline resistance, signaling a potential bullish reversal. The stock is trading above its key short-term (34 EMA) and long-term (200 EMA) averages, reflecting sustained strength. Momentum indicators support the move, with RSI trending positively near 58, suggesting ample room for upside before entering overbought territory. Additionally, MACD has turned positive with a bullish crossover, further confirming buying interest.
Larsen & Toubro | Buy | Target Price: Rs 3,850-3,920 | Stop Loss: Rs 3,500
Prices of L&T are exhibiting a constructive price structure on the daily chart, with prices forming an ascending triangle pattern, a continuation setup that often precedes a strong breakout. The stock is trading comfortably above its key short-term (34 EMA) and long-term (200 EMA) averages, highlighting sustained bullish momentum. The RSI at 54 indicates strength while leaving room for further upside, and MACD is in positive territory, reinforcing the bullish bias.
Godrej Consumer Products | Buy | Target Price: Rs 1,266 | Stop Loss: Rs 1,150
Godrej Consumer Products is currently consolidating within a well-defined box range on the daily chart, with prices now hovering near the lower boundary around Rs 1,160 levels. This positioning offers a favorable risk-reward setup, as downside risk appears limited while the potential for reversal towards the upper range near Rs 1,266 and above. Momentum indicators further support the case, with RSI near 37 suggesting oversold conditions and Stochastic oscillators showing signs of bottoming out. The proximity to the super trend support zone adds to the positive outlook.