Indian benchmark indices settled sharply lower on Tuesday as the sentiments turned jittered on the back of Trump tariffs coming into effect.
Trader’s are awaiting near-term relief measures by the Indian Government. BSE Sensex tanked 849.47 points, or 1.07 per cent, to settle at 80,786.54, while NSE’s Nifty50 plunged 255.70 points, or 1.02 per cent, to close at 24,712.05 for the day.
Select buzzing stocks including Hindustan Unilever (HUL), Eicher Motors and FSN E-Commerce Ventures (Nykaa) are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Research at Axis Securities has to say about these stocks ahead of Thursday’s trading session:
FSN E-Commerce Ventures | Buy | Target Price: Rs 219 | Stop Loss: Rs 245
Nykaa is trending higher, forming a series of higher tops and bottoms on the daily, weekly and monthly time frames. This indicates strong bullish sentiments. The stock is well placed above its 20, 50,100 and 200-day SMA, which reconfirms a bullish trend, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily ‘band Bollinger’ buy signal indicates increased momentum. Huge rising volumes in the recent rally signify increased participation. The daily, weekly and monthly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 245-285, and its downside support zone is the Rs 220-215 levels.
Eicher Motors | Buy | Target Price: Rs 6,400 | Stop Loss: Rs 5,850
Eicher Motors is in a strong uptrend across all time frames. In addition, it has also registered an all-time high at Rs 6,210, which signals bullish sentiments. On the daily chart, the stock has confirmed a triangular breakout at the Rs 5,700 levels, which confirms the continuation of the prior uptrend. The past couple of weeks’ rising volumes signify increased participation. The stock is well placed above its 20, 50,100 and 200-day SMA, which reconfirms a bullish trend, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The weekly ‘band Bollinger’ buy signal indicates increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 6,285-6,400, and its downside support zone is the Rs 6,030-5,880 levels.
Hindustan Unilever | Buy | Target Price: Rs 2,840 | Stop Loss: Rs 2,580
HUL has experienced a short and medium-term trend reversal on the daily and weekly time frames. In addition, it has also confirmed a ’rounded bottom’ formation breakout at Rs 2,590 levels, which confirms trend reversal. The past couple of months’ rising volumes signify increased participation. The stock is well placed above its 20, 50,100 and 200-day SMA, which reconfirms a bullish trend, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 2,800-2,885, and its downside support zone is the Rs 2,625-2,590 levels.