Top inventory market recommendations: In accordance to Aakash Okay Hindocha, Deputy Vice President – WM Analysis, Nuvama Skilled Shoppers Group, Ambuja Cements, Jubilant FoodWorks and SBI Playing cards and Cost Providers are the highest buy calls for at this time.Right here’s his view on Nifty, Financial institution Nifty and the highest inventory picks for April 24, 2025:
Index View: Nifty
After finishing its 24k goal and reclaiming above the 200 DMA, that is the third consecutive day whereby the index has closed above the identical after a ten% flash rally. Given the geopolitical developments and a stretched rally wanting drained on charts, we shift our stance to sideways from buy on dip with a brief time period assist seen at 23900 under which weakening momentum may decide up. Regardless of a robust handover from the worldwide entrance this morning, charts don’t warrant a right away upside after a flash rally seen previously 10 buying and selling days.
Financial institution Nifty
Financial institution Nifty continued to lead the cost amongst the broadly tracked indices with staging a 1800 odd level rally for this week at yesterday’s excessive. A further 2000 factors goal had opened up on charts after its sturdy closing on Thursday. Yesterday was the primary occasion for the reason that panic lows of seventh April that Financial institution Nifty underperformed Nifty marking an finish to its higher hand on this leg. Any closing under 55240 is probably going to drag the index on a damaging momentum from right here on.We will additional the case after Financial institution Nifty’s response close to the 56200 ranges, because it appears to be like extraordinarily overbought each day and hourly charts.
AMBUJACEM (BUY):
LCP: 574.35
Cease Loss: 560
Goal: 606
Ambuja Cements inventory has discovered sturdy assist from its 5 yr trendline earlier this month and that is its sixth contact base on this trendline previously 5 years , making it all of the extra stronger. Within the brief time period the 200 DMA has additionally been reclaimed together with the index as this helps in establishing its brief time period development northwards.
JUBLFOOD (BUY):
LCP: 713.45
Cease Loss: 685
Goal: 765
QSR stocks had been sliding for the reason that begin of this calendar yr. Marking an finish to the slide, Jubilant FoodWorks has given a breakout of a 3 month lengthy correction whereas making the next backside formation all by the previous 4 weeks. A fast 6-8% upside follows by this breakout on the inventory.
SBICARD (BUY):
LCP: 915.90
Cease Loss: 882
Goal: 1005
SBI Playing cards and Cost Providers inventory has closed at a recent 22 month excessive with repeated decrease excessive formation suggesting accumulation on each dips being noticed. The scrip has held its neck above its 200 DMA in addition to 200 WMA for the previous 8-10 weeks now suggesting that its brief time period in addition to medium time period development has now been established northwards and dips are possible to get purchased into.
Disclaimer: The opinions, analyses and recommendations expressed herein are these of brokerage and don’t replicate the views of The Times of India. At all times seek the advice of with a certified funding advisor or monetary planner earlier than making any funding selections.
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