Home Investment / Trading Trading Strategy Market trading guide: SBI Cards, Castrol India among 4 stock recommendations for Wednesday – Stock Ideas – The Economic Times

Market trading guide: SBI Cards, Castrol India among 4 stock recommendations for Wednesday – Stock Ideas – The Economic Times

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Market trading guide: SBI Cards, Castrol India among 4 stock recommendations for Wednesday – Stock Ideas – The Economic Times
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Inventory Concepts

Benchmark indices hit new peaks on Tuesday with Sensex breaching the historic 75,000-mark for the primary time throughout intra-day earlier than ending the session marginally decrease on profit-booking at increased ranges.

“Indian markets reached a recent intra-day peak earlier than seeing profit-booking at increased ranges in anticipation of tomorrow’s key US inflation knowledge, which carries weight in figuring out future charge cuts by the US Fed,” mentioned Vinod Nair, Head of Analysis, Geojit Monetary Providers.

​SBI Card: Buy | Buying range: Rs 750 | Target: Rs 850 | Stop Loss: Rs 699

Businesses

2/5

​SBI Card: Purchase | Shopping for vary: Rs 750 | Goal: Rs 850 | Cease Loss: Rs 699

The down development of the previous couple of months appears to have ended on this monetary stock-SBI Card. The inventory worth has witnessed a decisive upside bounce from the lows of Rs 680 ranges in final week and uptrend continued for this week as effectively. The general optimistic chart sample signifies an necessary backside formation for the inventory worth on the latest lows.

Nagaraj Shetti, Senior Technical Analysis Analyst, HDFC Securities

​Castrol India: Buy | Buying range: Rs 222 | Target: Rs 262 | Stop Loss: Rs 208

Businesses

3/5

​Castrol India: Purchase | Shopping for vary: Rs 222 | Goal: Rs 262 | Cease Loss: Rs 208

The oil stock-Castrol India Ltd has been in an intermediate uptrend during the last many months as per weekly timeframe chart. The inventory worth has moved up as per the bigger diploma increased tops and bottoms over the time frame. The latest sharp upmove signifies a formation of upper backside and the inventory worth is now advancing in direction of the formation of a brand new increased prime of the sequence.

Nagaraj Shetti, Senior Technical Analysis Analyst, HDFC Securities

​ICICI Bank - Buy | Buying range: Rs 1105-1107 | Target: Rs 1145 | Stop Loss: Rs 1085

Businesses

4/5

​ICICI Financial institution – Purchase | Shopping for vary: Rs 1105-1107 | Goal: Rs 1145 | Cease Loss: Rs 1085

ICICI Financial institution is seen to be breaking out of a bullish formation on the every day timeframe which signifies power. On the indicator entrance, the supertrend indicator is bullish and the inventory is seen to be sustaining above all its necessary EMAs.
Mitesh Karwa, Analysis Analyst, Bonanza Portfolio

​KDDL: Buy | Buying range: Rs 2623-2626 | Target: Rs 2775 | Stop Loss: Rs 2550

ETtech

5/5

​KDDL: Purchase | Shopping for vary: Rs 2623-2626 | Goal: Rs 2775 | Cease Loss: Rs 2550

KDDL is seen to be breaking a downwards sloping trendline resistance with a bullish candlestick which signifies power. Momentum oscillator RSI (14) is at round 60 on the every day time and is displaying power by sustaining above 50 and the inventory can be buying and selling above all of the necessary EMAs on the every day timeframe.

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