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Stock market recommendations: According to Aakash Okay Hindocha, Deputy Vice President – WM Research, Nuvama Professional Clients Group, Bharat Dynamics Ltd, JK Cement, Tata Steel are the highest stock picks for as we speak. Here’s his view on Nifty, Bank Nifty and the highest stock picks for January 30, 2025:
Index View: Nifty
Nifty has recovered shut to 400 factors from its panic lows seen at first of this eventful week. The index has reclaimed 23000 ranges on a closing foundation and likewise closed above its earlier day’s excessive indicating reemergence of confidence in patrons on the cusp of FOMC end result impression on Indian markets. Union Budget can also be lined up on the finish of this week whereas a month-to-month expiry commerce is scheduled for as we speak. A reclamation of 23350 seems to be seen on playing cards forward of the large occasion of Union Budget 2025 whereas on draw back 23000 could be seen as an lively assist zone.
Bank Nifty
Banking names have been outperforming and is probably going to proceed going into the finances largely due to a tailwind on the macroeconomic entrance triggered by the central financial institution in easing liquidity within the system. A double backside formation on day by day charts occurred in opening commerce this week which has created a 3% rally up to now 3 buying and selling days on the index. No adverse within the union finances this time is usually a enormous optimistic for the banking names and this eyes for an preliminary rally in direction of 50500 on the upside with outperformance seemingly to proceed within the close to time period.
BDL (BUY)
LCP: 1229.45
SL: 1190
TGT: 1335
Bharat Dynamics Ltd: A retest of the current damaged out bullish pole and flag sample has freshly ignited lengthy positions onto this counter whereas the general targets seem a lot giant, given the continuing volatility we’d play this for a 8-10% up transfer with a minimal cease set at 1190. A closing above 1247 is about to ignite additional momentum on this identify.
JKCEMENT (BUY):
LCP: 4890.80
SL: 4750
TGT: 5215
With JKCEMENT breaking into contemporary all time excessive when there’s turmoil in bigger breed of shares on the road it signifies patrons curiosity regardless of the market breadth being tilted in direction of bears for the previous few weeks. A bullish cup and deal with breakout has been noticed as of shut of commerce on Wednesday with preliminary targets seen for a 6-8% run whereas the general targets seem to be a lot greater in a steady market setting.
TATASTEEL (BUY):
LCP: 130.80
SL: 124.50
TGT: 143
Historically the stock has discovered sturdy medium time period assist at its 200 week shifting common whereas this time, the charts have shaped a double backside in addition to a double bullish hammer sample on weekly charts which coincide taking assist on the 200 week shifting averages. A fast 10% rally from present ranges can’t be dominated out provided that CMP holds onto until the tip of this week.
Disclaimer: The opinions, analyses and recommendations expressed herein are these of brokerage and don’t replicate the views of The Times of India. Always seek the advice of with a certified funding advisor or monetary planner earlier than making any funding selections.
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