Latest news with #CARTRADE
Mint
4 days ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50, global markets to Q1 results; Eight stocks to buy or sell on Monday
Stock Market Today: During the week ended 11 July 2025, the benchmark Nifty-50 index ended 1.3% lower at 25,149.85, amid global uncertainties around tariff negotiations and caution at the start of earnings season. The Bank Nifty, at 56,754.70, also ended 0.5% lower. Auto IT metals were the top losers, while most sectors, barring FMCG, ended with losses. Broader markets also ended with more than a 1% decline. The immediate support for Nifty-50 now lies in the 24900–24850 zone, where the 50-day EMA is placed. A break below 24850 could push the index toward the next support at 24550, while a zone above 25300–25350 is required for bulls to regain control in the short term, as per Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities For Bank Nifty, the zone of 56200-56300 will act as immediate support, said Shah. Looking ahead, the earnings season will be in full focus, and results from HCL Tech, Tech Mahindra, Axis Bank, ICICI Bank, Wipro, JSW Steel, L&T Finance, and HDFC Bank, among others, will be released. On the macroeconomic front, participants will closely track the WPI and CPI inflation data scheduled for July 14 for further cues on the economy. Apart from these, the trend in FII flows and movement in crude oil prices will also remain on traders' radar, said Ajit Mishra, SVP, Research, Religare Broking Ltd. Globally, markets will watch for any updates related to trade negotiations and tariffs, along with key economic data releases such as U.S. inflation and China's GDP numbers, added Mishra Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: CarTrade Tech Ltd, Tarc Ltd, Larsen & Toubro Ltd, Rashtriya Chemicals and Fertilizers Ltd (RCF), Jindal Steel & Power Ltd, Paradeep Phosphates Ltd, NRB Bearings Ltd, and Gujarat Pipavav Port Ltd 1. CarTrade Tech Ltd-Bagadia recommends buying CARTRADE at around ₹ 1899.7, keeping the stop loss at ₹ 1830 for a target price of ₹ 1.2020 CARTRADE is exhibiting strong bullish momentum, currently trading at an all-time high of ₹ 1918 levels, marking its highest closing level of the calendar year. This decisive move came after several days of sideways consolidation, suggesting that bullish sentiment is returning with strength. The stock also formed a large bullish candle, clearly breaking above the short-term range resistance of ₹ 1,850, which now acts as an immediate support. 2. Tarc Ltd-Bagadia recommends buying TARC at around ₹ 201.92, keeping stop loss at ₹ 195 for a target price of ₹ 215 TARC, currently trading at ₹ 201.92, has shown a reaffirming strong bullish sentiment. Recent price action indicates the stock gradually moved higher, forming higher highs and higher lows—a classic sign of a bullish reversal. The bullish alignment of EMAs confirms that the broader trend remains firmly positive, with the 20-day EMA now acting as immediate dynamic support. 3. Larsen & Toubro Ltd-Dongre recommends buying Larsen & Toubro, or LT, at around ₹ 3537, keeping the stop loss at ₹ 3470 for a target price of ₹ 3700. Stock has exhibited a strong, notable, and continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 3537 and maintaining strong support at ₹ 3470. The technical setup indicates the potential for a price retracement towards the ₹ 3700 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 3470 offers a prudent approach to capturing the anticipated upside. 4. Rashtriya Chemicals and Fertilizers Ltd (RCF)—Dongre recommends buying RCF at ₹ 151, keeping stop loss at ₹ 145 for a target price of ₹ 161. Stock has exhibited a strong, notable, and continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 151 and maintaining strong support at ₹ 145. The technical setup indicates the potential for a price retracement towards the ₹ 161 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 145 offers a prudent approach to capturing the anticipated upside. 5. Jindal Steel & Power Ltd—Dongre recommends buying Jindal Steel & Power, or JINDALSTEL, at around ₹ 937, keeping Stoploss at ₹ 920 for a target price of ₹ 970. In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 937 and holding above a key support level at ₹ 920. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 920 to manage downside risk. The target for this trade is set at ₹ 970, suggesting a favourable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Paradeep Phosphates Ltd—Koothupalakkal recommends buying PARADEEP PHOSPHATE at around ₹ 164.70 for a target of ₹ 175, keeping Stop loss at ₹ 161 The stock, after witnessing a short period of correction, has once again consolidated and taken support near the important 50EMA zone at the ₹ 156 level, which is also the upper band of the ascending channel pattern on the daily chart, and with an indication of improvement in the bias with bullish candle formation, one can anticipate a further rise in the coming sessions. The RSI has corrected quite significantly from the overbought zone and is currently well-positioned, indicating a positive trend reversal to signal a buy. With the chart looking good, we suggest buying the stock for an upside target of the ₹ 175 level, keeping the stop loss at the ₹ 161 level. 7. NRB Bearings Ltd—Koothupalakkal recommends buying NRB BEARING at around ₹ 289.50 for a target price of ₹ 306, keeping Stop loss at ₹ 283 The stock has indicated a series of higher bottom formations on the daily chart with an overall rising trend, and currently taking support near the ₹ 278 zone has improved the bias with a decent pullback to anticipate further rise. The volume has been improving, and with the RSI indicating a positive trend reversal to signal a buy, it can carry on with the positive move further ahead in the coming sessions. With much upside potential visible and the chart technically looking good, we suggest buying the stock for an upside target of ₹ 306, keeping the stop loss at the ₹ 283 level. 8. Gujarat Pipavav Port Ltd—Koothupalakkal recommends buying Gujarat Pipavav Port, or GUJ PIPAVAV PORT, at around ₹ 158.25 for a target price of ₹ 168, keeping the stop loss at ₹ 154 The stock has maintained above the important 50EMA zone at the ₹ 154 level, and currently, after a short period of correction, has indicated a positive candle formation to improve the bias, expecting a continuation of the positive move further ahead in the coming sessions. The RSI is currently well placed and indicating a buy signal, has much upside potential to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of ₹ 168, with a stop loss at the ₹ 154 level. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
05-05-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to India-Pakistan tension; Eight stocks to buy or sell on Monday
Stock Market Today: The benchmark Nifty-50 index during the week ending 2 May, closed at 24,346.70 on a positive note and was up 1.3% week on week. The Bank Nifty at 55,115.35 was 0.8% while Realty, pharma and Autos were among top gainers, while metals, FMCG and Utilities were the top losers. Broader markets closed marginally lower. For Nifty 24,200 would act as a sacrosanct support zone and above this level, its positive momentum up to 24,600–24,800. On the flip side, below 24,200, the chances of hitting the 200-day SMA or 24,050 would increase, said Amol Athawale, VP- Technical Research, Kotak Securities. For Bank Nifty, 55,800 would be the immediate breakout level and above this, it could move up to 56,100–56,500, added Athawale. The coming week is crucial, packed with key domestic and global triggers. With developments regarding tariff and geopolitical tensions with Pakistan will still remain on the radar. On the macroeconomic front, investors would be eyeing the HSBC Composite PMI and HSBC Services PMI Final data. While on the global front, Fed Interest Rate Decision is due on 7th May where they would be discussing about the future rate cut path, said Ajit Mishra – SVP, Research, Religare Broking Ltd. On the corporate earnings front, several prominent companies—including M&M, Coal India, Asian Paints, L&T, Titan, Coforge, One 97 Communication, Pidilite Industries and Dr, Reddy's Labs—are set to release their quarterly results. Globally, updates related to tariffs and trade will also be watched closely. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stocks picks. CarTrade Tech Ltd- Bagadia recommends buying CarTrade Tech at ₹ 1768.2 keeping Stoploss at ₹ 1700 for a target price of ₹ 1900 CARTRADE showcases a robust bullish reversal on the daily chart, recovering sharply after facing selling pressure in early April. The stock has regained strong upward momentum, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. In recent sessions, CARTRADE is getting stabilized and moving towards its swing high target of ₹ 1900, indicating consolidation and a potential setup for another breakout. 2. CreditAccess Grameen Ltd - Bagadia recommends buying CreditAccess Grameen at around ₹ 1162.9 keeping Stoploss at ₹ 1125 for a target price of ₹ 1250 CREDITACC, is currently trading at 1162.9, exhibits a strong uptrend and bullish breakout on the daily chart, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates a consolidation phase following a notable rally, with the stock maintaining levels near the 20-Day EMA. The reclaim of the 20-day EMA is especially noteworthy, as it often signifies a shift from bearish to bullish sentiment. This technical alignment suggests the potential beginning of a medium- to long-term uptrend. If this trend continues, CREDITACC could reach a short-term target of 1250. 3. NHPC Ltd- Dongre recommends buying NHPC at around ₹ 85-86 keeping stoploss at ₹ 83 for a target price of ₹ 91 1In the short-term trend outlook, NHPC is displaying a strong bullish setup, making it a compelling buy candidate. On the daily chart, the stock has formed a Bullish Engulfing pattern—a classic signal indicating a potential reversal following recent corrective action. The stock is currently holding key support near ₹ 84 and offers a favorable entry opportunity in the ₹ 85–86 range. Technical indicators suggest momentum may build toward the ₹ 91 target, with a prudent stop-loss to be maintained at ₹ 83 to manage downside risk. 4. Chambal Fertilisers & Chemicals Ltd- Dongre recommends buying Chambal Fertilisers at ₹ 695 keeping Stoploss at ₹ 685 for a target price of ₹ 715 CHAMBLFERT has shown encouraging signs of a trend reversal on its daily chart, forming a Bullish Engulfing pattern after a period of decline. The stock is respecting its 20-day EMA, indicating renewed buying interest at lower levels. With strong support around ₹ 685, CHAMBLFERT offers a short-term buying opportunity at ₹ 695, aiming for a target of ₹ 715 while keeping a stop-loss at ₹ 685. 5. State Bank of India- Dongre recommends buying SBI at ₹ 800 keeping Stoploss at ₹ 785 for a target price of ₹ 830. SBI is showing a bullish reversal candlestick pattern near its crucial support zone, signaling that recent selling may be losing steam. The stock is trading well above its 50-day EMA, further supporting the positive bias. With a current level around ₹ 800, SBI presents a buying opportunity for a potential move toward ₹ 830, with a protective stop-loss recommended at ₹ 785 to limit downside exposure. 6. VA Tech Wabag Ltd- Koothupalakkal recommends buying VA TECH WABAG at around ₹ 1310 for a Target price of ₹ 1370 keeping Stop loss: 1280 The stock after witnessing a short period of profit booking has shown signs of taking support near 1260 zone and indicated a decent pullback to improve the bias anticipating for further rise in the coming sessions. The RSI has corrected to some extent and currently indicating a positive revival has scope for further upward move, with much upside potential visible from current rate. With the chart technically maintained strong, we suggest to buy the stock for an upside target of 1370 level keeping the stop loss of 1280 level. 7. Sumitomo Chemical India Ltd- Koothupalakkal recommends buying Sumitomo Chemical at around ₹ 524 for a Target price of ₹ 550 keeping Stop loss at ₹ 512 The stock has indicated a higher bottom formation pattern on the daily chart taking support near the 500 zone and currently after a decent pullback is on the verge of moving past the important 200 period MA and 50EMA at 525 level to improve the bias anticipating for further rise. The RSI has indicated a positive trend reversal to signal a buy and with upside potential visible, we expect the stock to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of 550 level keeping the stop loss of 512 level. 8. NCC Ltd- Koothupalakkal recommends buying NCC at around ₹ 217.40 for a Target price of ₹ 230 keeping Stop loss at ₹ 212 The stock has maintained a positive bias for quite some time with the 50-EMA at 213 level as the good support zone and currently with a positive candle formation with significant volume participation has once again improved the bias, expecting for further rise in the coming sessions. The RSI is well-positioned, indicating strength, and can continue with the positive upward move for further gains. With the chart looking good, we suggest buying the stock for an upside target of 230, keeping the stop loss at the 212 level. 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 taking any investment decisions. First Published: 5 May 2025, 06:24 AM IST
