Indian benchmark indices continued to weaken on Friday amid the rising FIIs outflows led by Trump tariffs on India, denting the outlook for exports and the Indian economy. The rising volatility weighed on sentiments. BSE Sensex plunged 765.45 points, or 0.95 per cent, to settle at 79,857.79, while NSE’s Nifty50 cracked 232.85 points, or 0.95 per cent, to close at 24,363.30 for the day.
Select buzzing stocks including Gujarat State Fertilizers & Chemicals (GSFC), Sanghvi Movers and Titan Company are likely to remain under the spotlight of traders for the session today. Here is what a couple of brokerage firms have to say about these stocks ahead of Monday’s trading session:
Sanghvi Movers | Buy | Target Price: Rs 366-368 | Stop Loss: Rs 260
Over the past few months, the stock has experienced substantial selling pressure, with its price declining significantly from the Rs 350 level to the Rs 250 level. Technically, the stock has remained in a sustained downtrend, fluctuating within a descending channel. However, last week, bullish momentum regained control as the stock broke out above the downward-sloping trend line of the declining channel. The sharp increase in trading volume, coupled with positive price action, indicates a potential continuation of the upward movement in the near term. Therefore, one can accumulate a stock in range of Rs 300-305 levels with the expected upside of Rs 366-368 levels with stop loss below Rs 260 levels.
Recommended by: SMC Global Securities
Titan Company | Buy | Target Price: Rs 3,850-4,000 | Stop Loss: Rs 3,275
Titan has formed a strong bullish candle, accompanied by consistent trading volumes, reinforcing buying interest at lower levels. A sustained move above Rs 3,500 mark could trigger a fresh upside momentum in the stock. In such a scenario, the stock has a potential to move towards the Rs 3,850-4,00 range in the medium term. The RSI is placed at 50.38, showing signs of reversal. We commend to buy’ the stock in the medium to long-term. One can consider adding the stock around Rs 3,400, while major support lies at Rs 3,275. A breach of this level may temporarily weaken the positive trend.
Recommended by: Choice Broking
Gujarat State Fertilizers & Chemicals | Buy | Target Price: Rs 235-238 | Stop Loss: Rs 195
GSFC has been trading within a broad range of Rs 190 to Rs 210 over the past few months, demonstrating strong support above its 200-DEMA on both daily and weekly charts. This indicates a robust underlying bullish trend, with buyers consistently defending key levels. Recently, the stock witnessed a fresh breakout above the Inverted Head & shoulder pattern on weekly interval with prices regaining a bullish momentum above resistance level of 210.Notably, the upward price movement was accompanied by a sudden surge in trading volumes, signaling strong buying interest and fresh long positions being accumulated. Therefore, one can accumulate a stock in the range of Rs 207-210 for the expected upside of Rs 235-238 levels with stop loss below Rs 195 levels.
Recommended by: SMC Global Securities
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.