Decoding the charts, Rupak De, Senior Technical Analyst at LKP Securities said the RSI is in a bullish crossover on the daily timeframe and continues to rise, indicating strengthening momentum. “In the short term, the trend may remain positive. On the other hand, if no concrete truce deal is reached by the weekend, the market might react negatively. Immediate support is placed at 23,800, below which the index may decline towards lower levels. On the upside, the 24,300–24,350 zone is likely to act as a resistance area.”
Here are 2 stocks to buy:
Buy SBI at Rs 1,067 | Upside: 6%
Stop Loss: Rs 1,035
Target: Rs 1,120/1,130
State Bank of India is showing a strong rebound from key support with bullish momentum on weekly charts. Price remains above long-term moving averages, indicating trend strength. RSI is stable, suggesting room for upside. Traders can consider buying with a target of Rs 1,120 – Rs 1,130 and maintain a strict stop loss at Rs 1,035.(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
Buy Bajaj Consumer Care at Rs 432 | Upside: 6%
Stop Loss: Rs 420
Target: Rs 455/460
Bajaj Consumer Care is witnessing a strong breakout above its key resistance zone with rising volumes, indicating bullish momentum on daily charts. Price is trading well above its long-term moving average, confirming trend strength, while RSI remains elevated, supporting further upside. Traders can consider buying with a target of Rs 455 – Rs 460 (5–6% upside) and maintain a strict stop loss at Rs 420.
(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)
