INSUBCONTINENT EXCLUSIVE:
Illustration: Binay Sinha2 min read Last Updated : Jul 04 2024 | 6:16 AM ISTNifty: 24,286.50
Markets edged higher, gaining over half a
percent, driven by favorable cues
Most sectors contributed to the gains, with banking, metal, and FMCG being the top performers
the 23,800-24,000 zone as the new base for the Nifty index
Favorable global cues and rotational buying in heavyweights are expected to help Nifty test the 24,500 mark.Stock RecommendationsFIRSTSOURCE
SOLUTIONS LIMITED| LTP: 224.16 | Buy |Target: 246 | Stop-loss: 217FSL has been in a steady uptrend for over a year and gaining fresh
traction with up move in the IT pack
It has registered a fresh breakout from the consolidation range with strong surge in volumes
On higher timeframe, it has been forming a bullish cup and handle price pattern, which further compliments prevailing tone.LUPIN LIMITED
|LTP: 1630.60 |Buy |Target: 1735 | Stop-loss: 1578
Pharma index has rebounded from the key support zone and LUPIN is offering fresh buying
opportunity with favorable risk to reward
The stock has managed to hold its key demand zone and have rebounded strongly with decent volumes
It has recorded a breakout from falling resistance trendline and have reclaimed its short term moving average i.e
Traders can consider fresh longs.BHARAT HEAVY ELECTRICALS LIMITED | LTP: 311.30 | Buy |Target: 333 |Stop-loss: 300
BHEL has been
witnessing time correction after retesting closer to its record high and trading in a congestion zone
The recent uptick in price combined with fresh buoyancy in select defense-related stocks indicates the possibility of consolidation to end
soon thus traders can consider initiating fresh trades around the current level.Note: All stock prices in
Rs=============================Disclaimer: Ajit Mishra is SVP, Research, Religare Broking
He may/may not have positions in the above-mentioned stocks.First Published: Jul 04 2024 | 6:10 AMIST
