Indian benchmark indices recovered from early sell-off but ended lower on Thursday. Monthly expiry, muted Q1 earnings and FIIs selling were other key factors that added to the volatility at Dalal Street. BSE Sensex tanked 296.28 points, or 0.36 per cent, to settle at 81,185.58, while NSE’s Nifty50 dropped 86.70 points, or 0.35 per cent, to close at 24,768.35 for the day.
Select buzzing stocks including UltraTech Cement, Dabur India and Aditya Birla Capital 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:
Dabur India | Buy | Target Price: Rs 568 | Stop Loss: Rs 495
Dabur has broken out of a bullish pole and flag pattern, signalling trend continuation. The breakout is backed by rising volumes, indicating strong participation. Price action shows a series of higher highs and higher lows, aligning with its placement above 20, 50, and 200 day EMAs. Momentum indicators support the bullish view, RSI is above 60, showing strength, while MACD trades in the positive zone with a bullish crossover. The setup suggests potential for further upside.
Aditya Birla Capital | Buy | Target Price: Rs 280-290 | Stop Loss: Rs 238
AB Capital has broken out above its long-term resistance zone around Rs 244 and retested it with a bullish pin bar, signalling fresh buying interest. It is forming higher highs and higher lows, holding well above 20, 50, and 100-day EMAs. Volume expansion on up moves confirms strength. RSI is above 60, MACD remains in a positive crossover. Moreover, the stock is showing relative outperformance against the Nifty, suggesting strong leadership potential in the current market.
UltraTech Cement | Buy | Target Price: Rs 12,800-13,000 | Stop Loss: Rs 11,800
Prices of UltraTech have retested its previous breakout zone near 12200 and is consolidating just above key short term moving averages, signalling strength. The stock maintains a higher high and higher low structure. Candlestick wicks near support hint at buying interest. It trades above the 50 and 100 day EMAs, though slightly below the 20-day. RSI remains above 55, suggesting stable momentum, while MACD stays in bullish crossover territory. Relative strength is holding firm, indicating potential outperformance on a breakout above Rs 12,350.
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