Domestic markets traded within a range, maintaining a positive bias as the initial optimism surrounding the US-Iran peace deal was tempered by hawkish remarks from the US Fed. Energy-driven inflationary pressures may prompt central banks to consider rate hikes in the latter half of the year, leading investors to adopt a cautious stance.
Here are two stock recommendations for Friday
VTL - Buy: Rs 660-665
Stop-loss: Rs 632
Target: Rs 710-720
VTL exhibits a strong structural breakout on the daily chart, surging past near-term resistance with expanding volume. The price action sustains a robust uptrend, firmly tracking above the rising moving average to signal aggressive buying interest. Initiate long positions in the 660–665 range, targeting 710 to 720 to capture the upside continuation. Maintain a strict stop loss at 632, positioned safely below the immediate consolidation support base.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Radico Khaitan - Buy: Rs 3,670-3680
Stop-loss: Rs 3,595
Target: Rs 3,820-3850
Radico Khaitan demonstrates a decisive trendline breakout, bouncing sharply from its recent base with strong bullish momentum. The stock tracks above crucial moving averages, while momentum indicators confirm accelerating upward velocity. Buy in the 3670–3680 range, targeting 3820 to 3850 to capitalize on the trend extension. Place a strict stop loss at 3595, securely positioned below the recent swing low pivot to effectively manage downside risk.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
