Tracking weak Asian markets, Indian equities drifted lower through the day, with large caps underperforming broader markets. Sectorally, metals outperformed on firm commodity prices, while banking stocks came under pressure, with PSU banks trailing their private-sector counterparts amid mark-to-market losses driven by the rise in sovereign bond yields.
Analysts said caution dominated market sentiment as investors are awaiting fresh sanctions from the US on Iran later today. Brent crude eased on profit-taking but remained above the $90 per bbl mark, supported by concerns over tighter Iranian oil supplies and ongoing tensions around the Strait of Hormuz.
Here are two stock recommendations for Tuesday
Siemens - Buy | Buying Zone: 4115 | Stop-loss: Rs 3865 | Target: Rs 4500
The stock has given a strong breakout from the Rs 3,900–4,000 consolidation zone with supportive volume and is trading above all major EMAs. RSI near 69 indicates strong momentum, while positive price action supports further upside.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Engineers India - Buy | Buying Zone: 255 | Stop-loss: Rs 235 | Target: Rs 300
The stock has broken out above the Rs 248–250 resistance zone with strong volume and is trading above all major EMAs. RSI near 64 reflects positive momentum, while the breakout structure supports continuation towards higher levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
