Rupak De, Senior Technical Analyst at LKP Securities said that the sentiments have improved significantly over the last three sessions as the index reclaimed the 25,500 support after a brief decline and then crossed the 25,800 resistance, providing double confirmation of strength. “In the short term, 25,500 is likely to act as a crucial support level. As long as it holds, buyers are likely to dominate. On the higher end, the index may extend gains towards 26,000 and above,” he added.
Here are 2 stock recommendations for Thursday:
Buy Bank of India at Rs 172.55 | Upside: 8%
Stop Loss: Rs 165
Target: Rs 187
The stock has registered a decisive breakout from its consolidation range, indicating the beginning of a fresh upward phase. It is currently trading above all major exponential moving averages — 20, 50, 100, and 200 EMAs — confirming a positive short- to mid-term trend structure. Momentum remains supportive, with the RSI at 64.01, positioned above its 14-period average of 57.29, signaling continued bullish momentum. Importantly, the RSI is not yet in the overbought zone, suggesting there is room for further upside and the potential to achieve higher price targets in the near term.(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
Buy Bank of Maharashtra at Rs 68.99 | Upside: 8%
Stop Loss: Rs 66.25
Target: Rs 74.5
The stock has delivered a decisive breakout from its consolidation range, signaling the start of a fresh upward move. It is now trading above all major exponential moving averages — 20, 50, 100, and 200 EMAs — confirming a positive short- to mid-term trend. Momentum indicators further support the bullish outlook, with the RSI at 65.9, trading above its 14-period average of 55.5. The RSI remains below the overbought zone, indicating healthy momentum and suggesting that the stock has the potential to achieve higher upside targets in the near term.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
