Trade Spotlight: Expert Insights for Monday’s Market

As the market recovers from its day’s low, experts share their trading ideas for the near term. Here’s a rundown of the stocks to watch out for on Monday:

Aarti Industries

Technical analyst Osho Krishan recommends buying Aarti Industries around Rs 715-710, citing a ‘Cup and Handle’ pattern breakout on the daily chart. The stock has reversed from critical support and is likely to witness a robust development. Target: Rs 760, Rs 780; Stop-Loss: Rs 680.

Mishra Dhatu Nigam (MIDHANI)

Mishra Dhatu Nigam has shown strong traction after consolidating near its 20 DEMA. The stock has broken out of a sloping trendline, indicating a bullish undertone. Buy MIDHANI around Rs 490, with a target of Rs 550, Rs 580, and a stop-loss of Rs 450.

New India Assurance Company (NIACL)

NIACL has seen a volume-backed breakout after consolidating for months. The stock has gained traction from its major EMAs on the daily chart, suggesting a positive development. Buy NIACL around Rs 270-265, with a target of Rs 320, Rs 330, and a stop-loss of Rs 240.

Coforge

Coforge has witnessed a vertical run-up since May 2024, with huge volumes indicating buying support at lower levels. The stock has retraced its past downfall by 61.80% Fibonacci levels, making Rs 5,869 a crucial level to watch. Buy Coforge, with a target of Rs 6,200, Rs 6,400, and a stop-loss of Rs 5,700, Rs 5,620.

Ircon International

Ircon International has broken out of its “multiple resistance” zone at Rs 300, indicating a positive bias. The stock has been well-placed above its 20, 50, 100, and 200-day SMA, reaffirming the bullish trend. Buy Ircon International, with a target of Rs 320, Rs 335, and a stop-loss of Rs 300, Rs 285.

Apollo Hospitals Enterprise

Apollo Hospitals has confirmed an “Inverse Head & Shoulder” breakout at Rs 6,282, indicating bullish sentiments. The stock has recaptured its 20 and 50-day SMA and rebounded sharply, suggesting a positive bias. Buy Apollo Hospitals, with a target of Rs 6,500, Rs 6,630, and a stop-loss of Rs 6,240, Rs 6,150.

SJVN

SJVN recently experienced a breakout on the daily chart, indicating a potential bullish trend. The stock has consolidated for 18 days on the 50-day DEMA, creating a solid foundation for the subsequent breakout. Buy SJVN within the price range of Rs 140-142, with a target of Rs 155, and a stop-loss of Rs 134.

Other Stocks

Nuvoco Vistas Corporation, Jyothy Labs, Hindustan Copper, and other stocks have also been identified as potential buys by experts. These stocks have shown positive signs, such as upside breakouts, bullish candle patterns, and rising strength indicators.

Disclaimer

The views and investment tips expressed by investment experts are their own and not those of Moneycontrol.com or its management. It is recommended to consult certified experts before taking any investment decisions.

Historical Context:

The article appears to be a daily market analysis report, providing expert insights and trading ideas for the Indian stock market. The report is likely to be published on a regular basis, possibly on a daily or weekly basis, to help investors and traders make informed decisions. The report focuses on specific stocks that have shown positive trends and patterns, such as breakouts, consolidations, and bullish candle patterns.

The report also provides technical analysis and recommendations from experts, including Osho Krishan, a technical analyst. The experts’ views and investment tips are based on their analysis of the stocks’ charts and market trends.

Summary in Bullet Points:

• Aarti Industries: Buy around Rs 715-710, target Rs 760, Rs 780, stop-loss Rs 680
• Mishra Dhatu Nigam (MIDHANI): Buy around Rs 490, target Rs 550, Rs 580, stop-loss Rs 450
• New India Assurance Company (NIACL): Buy around Rs 270-265, target Rs 320, Rs 330, stop-loss Rs 240
• Coforge: Buy, target Rs 6,200, Rs 6,400, stop-loss Rs 5,700, Rs 5,620
• Ircon International: Buy, target Rs 320, Rs 335, stop-loss Rs 300, Rs 285
• Apollo Hospitals Enterprise: Buy, target Rs 6,500, Rs 6,630, stop-loss Rs 6,240, Rs 6,150
• SJVN: Buy within Rs 140-142, target Rs 155, stop-loss Rs 134
• Other Stocks: Nuvoco Vistas Corporation, Jyothy Labs, Hindustan Copper, and others have been identified as potential buys

Disclaimer:

• The views and investment tips expressed by experts are their own and not those of Moneycontrol.com or its management.
• It is recommended to consult certified experts before taking any investment decisions.