Stocks to buy: Rajesh Palviya of Axis Sec suggests Titan, Hindalco, Dalmia Bharat shares today
Stock market today: Domestic stock indices began the day with gains for the fourth consecutive session on Friday, buoyed by positive international signals, such as indications of a possible extension to the July 9 tariff deadline.
The White House suggested that the tariff deadline might be delayed, and President Donald Trump mentioned that a "great deal" with India is on the horizon, which improved investor confidence.
The Nifty 50 index commenced at 25,576.65, rising by 27.65 points or 0.11%. Similarly, the BSE Sensex also started higher at 83,774.45, increasing by 18.58 points or 0.02%.
Rajesh Palviya of Axis Securities, highlighted Nifty 50's crucial support zone is located around the 25,200-25,000 levels; any minor correction around this remains a buying opportunity for traders. Palviya has recommended three stocks to to buy, hold, and accumulate. Here's what he says about the overall market.
With the current close, the benchmark index has decisively surpassed the past 8-9 months' multiple resistance zone of 25,200 levels on a closing basis, indicating strong bullish sentiments. The index is firmly placed above its 20, 50, 100, and 200-day SMA, which reconfirms a bullish trend on a higher time frame. On the upside, the index is likely to extend momentum towards 25,800-26,000 levels. The crucial support zone is located around the 25,200-25,000 levels; hence, any minor correction around this remains a buying opportunity for traders. The daily strength indicator RSI has turned bearish, indicating a loss of strength.
On the daily chart, the stock has confirmed a "Cup & Handle" formation at 3,660 levels on a closing basis. This breakout is accompanied by huge volumes, which signifies increased participation. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily "band Bollinger" buy signal suggests increased momentum. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 3,850-4,000, and its downside support zone is the ₹ 3,640-3,600 levels.
On the daily chart, the stock has experienced a trend reversal at the trendline breakout of 685 levels on a closing basis. The stock is sustaining above its 20, 50, 100, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. This breakout is accompanied by huge volumes, which signifies increased participation. The daily "band Bollinger" buy signal suggests increased momentum. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 713-740, and its downside support zone is the ₹ 670-660 levels.
On the daily and weekly charts, the stock is trending higher, forming a series of higher tops and bottoms, indicating positive bias. Recently, the stock has corrected and rebounded very sharply from the 50-day SMA (2019), which remains a crucial support zone. The stock is sustaining above its 20, 50,100, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 2,350-2,430, and its downside support zone is the ₹ 2,100-2,050 levels.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
37 minutes ago
- India.com
China's big snub to US, issues license for THIS thing to European countries, Trump left in..., it is...
New Delhi: China has started issuing export licenses for rare earth elements and magnets to European companies. This has been confirmed by the South China Morning Post, citing sources in the European Union. This is being described as a big setback for the USA, as President Donald Trump has been trying his best to get this license from China for the last several months. Apart from this, European governments and companies have been lobbying for several weeks to reduce export restrictions from China. China imposed these restrictions in response to US President Donald Trump's tariffs. Apart from the US, European countries were also included in the Chinese sanctions. What did the Chinese Commerce Ministry say? Earlier on Thursday, June 26, China's Commerce Ministry said that it was 'expediting the approval of rare earth export licenses' for EU firms 'in accordance with the law.' Ministry spokesman He Yadong said, 'China is ready to further enhance communication with relevant countries on export controls, actively facilitating convenient and mutually beneficial trade.' EU sources have certainly said that there is no such thing as a green channel between China and the EU regarding this, but they have seen the Chinese ministry giving export licenses to EU countries and companies. What's next for China and European Union? Next month, a summit of China and the European Union leaders is going to be held. President Xi Jinping, Foreign Minister Wang Yi and senior EU leaders are going to meet in this conference. In such a situation, China's resumption of this license process can lead to easing of tense relations between the two sides. The European Union believes that they are caught in the middle of the trade and technological war of the two superpowers. In such a situation, they need a permanent solution to stay away from these matters. Speaking at a webinar on Thursday, the EU's trade chief for China, Eva Valle Lagares, used sharp words. She said it was 'unclear' whether Beijing had acted like 'killing chickens to scare away monkeys' and the EU had been caught in the crossfire. She was referring to the China-US trade war, which has Europe at its core and is suffering the most as it also faces tariffs from the Donald Trump administration.
India.com
37 minutes ago
- India.com
World's biggest deal has happened between two countries, to directly impact economy, millions of people will be...
World's biggest deal has happened between two countries, to directly impact economy, millions of people will be… US-China Trade Agreement: In a major development, a crucial agreement has been signed between the United States and China on the trade framework. Both countries finalised the terms that were discussed in Geneva. According to experts, the deal was done so quickly because America's economic condition is deteriorating at a fast pace, and GDP growth has plunged into negative territory. What Are The Major Points Of The Deal? As per the deal, Beijing will supply rare earth minerals to the US, essential for several sectors such as jet engines, wind turbines and electronics. In return, America agreed to remove all the trade restrictions, including all taxes. Notably, the US imposed trade tariffs on China before the London talks. US Trade Agreement America is planning to finalising trade agreements with as many as 10 major countries. These deals will be done before the reimposition of high tariffs. The deadline is July 9. A wave of happiness swept through global markets, as Asian stock markets and European futures saw a rise. Global equity index reached a new record, due to trade deal expectations. Who are the other potential trade partners of America and India? Global Markets Welcomed The Decision A wave of happiness has swept through global markets. Asian and European markets opened and remained in the green throughout the day on Friday. Global equity index reached a new record, due to trade deal expectations. Is US Planning Trade Deal With India? A delegation led by Rajesh Agarwal is negotiating the deal in Washington on behalf of the country. Recently, United States President Donald Trump hinted at a 'Big Deal' with India. However, Japan's trade representative Ryosei Akazawa has said that they cannot accept the 25% car tariff proposed by the US. ' We are continuously making serious efforts on the tariff proposals of the US,' Japan's Chief Cabinet Secretary Yoshimasa Hayashi said during a media briefing. What Complications Does US-China Deal Have? The deal between China and the US is not a comprehensive trade agreement. It means that the deal has several issued in it like – American exporters have a level playing field in the Chinese market. There are still concerns related to fentanyl drug trafficking. Another example is: US has allowed companies to export ethane gas to China, but with a condition that it cannot be exported there without approval. What Will Be The Impact On India? The new US-China trade deal includes steps like the supply of rare earth, reducing tariffs, and agreeing on new terms. It is crucial step towards reducing tensions between the two countries. However, in recent years, when the trade war between US-China was at its peak, India benefited. During the trade war, America had imposed tariffs on several Chinese goods. Following this Indian companies (such as textiles, pharma, engineering) got the opportunity to export their products. Now if America is agreeing on importing goods from China, some of India's export sectors may feel the heat. China Dominates The Supply Of Rare Earth Minerals It is worth noting that the Dragon dominates the rare earth minerals market. These minerals are used in electric vehicles, solar panels, chips and defence equipment. If China resumes the supply of rare earth to America, then India will also get the benefit of stability in prices. The United States is negotiating a potential trade agreement with ten nations, including a possible agreement with India. This agreement could grant India preferential trade access. Easing US-China tensions is boosting global investor confidence, potentially leading to increased foreign portfolio investment and stock market growth in India.
Hindustan Times
an hour ago
- Hindustan Times
Big Beautiful Bill: List of Republicans who will vote against Trump's spending measure
President Donald Trump's tax and spending measure, dubbed the 'Big Beautiful Bill', will go on the Senate floor on Saturday for debate and a vote. While a majority of Republicans, who hold majorities in Congress, are expected to back the president. However, some have come out publicly to declare that they will vote against the bill, which proposes to reduce spending on Medicaid, food stamps and other programs. President Donald Trump said he hopes his Big Beautiful Bill will clear the Senate(AFP) The 940-page bill was released shortly before midnight Friday. Senators were expected to take a procedural vote Saturday to begin considering the legislation. The timing is, however, uncertain. After the Senate, the bill would need to return to the House for a final round of votes before it reaches President Trump's desk. Read More: 'Saved him from ugly death': Trump tears into Khamenei day after his victory speech 'It's evolving,' Senate Majority Leader John Thune said on Friday. Trump was optimistic. His Truth Social post read: 'We can get it done. It will be a wonderful Celebration for our Country.' Under Senate debate rules, it takes a three-fifths majority of lawmakers to pass a bill. If 51 of 100 Senators vote for it, the bill passes by a simple majority. Now, not all Republicans are voting along party lines. Sen Thom Tillis said he is concerned about the fundamentals of the package and will not support the procedural motion to begin debate. 'I'm voting no on the motion to proceed,' he said. Sen Ron Johnson said he needed to see the final legislative text. Read More: Donald Trump hints at 'very big' trade deal with India after China pact Here's a complete list of Republicans opposing Trump's spending bill Senator Ron Johnson (R-WI) Sen Johnson said he opposes the bill due to its insufficient spending cuts and significant contribution to the federal deficit, estimated at $2.3-$4 trillion over a decade by the Congressional Budget Office. Senator Thom Tillis (R-NC) Sen Tillis objects to the bill's Medicaid cuts, which could affect vulnerable constituents, and the abrupt phaseout of clean energy tax credits, which he argues risks economic disruption. Rep David Valadao (R-CA) The California Republican refuses to support any bill that cuts Medicaid or threatens healthcare access in his Central Valley district, where nearly two-thirds of constituents rely on Medicaid.
