Whalesbook
Market Recap
Indian equity markets concluded Tuesday's session on a subdued note. The benchmark Sensex shed 376 points to close at 85,063, while the Nifty fell 72 points, settling at 26,179. Market breadth leaned negative, with broader weakness reflected in a 2:3 advance-decline ratio. Reliance Industries saw its sharpest single-day decline in ten months, impacting indices, while Trent tumbled 8% following disappointing Q2 revenue figures. ITC also extended losses, hitting a two-year low.
Analyst's Top Picks
Raja Venkatraman, co-founder of NeoTrader, has identified three stocks for investors to consider. Marico, a leading consumer goods company, is recommended for buying above ₹780, with a stop loss at ₹755 and a one-month target price of ₹825. The stock has shown encouraging upmoves after six months of range-bound trading, signaling strong bullish potential.
Divi's Laboratories, a major pharmaceutical player, is another pick. Venkatraman suggests going long above ₹6,650, setting a stop loss at ₹6,550 and a target of ₹6,950 within a month. A strong breakout candle on Tuesday indicates a new trend possibility, supported by rising ADX and DI indicators.
Punjab National Bank Housing Finance (PNB Housing Finance) is recommended for a buy above ₹1,010, with a stop loss of ₹995 and a target of ₹1,040. The stock is showing signs of emerging upward traction after a period of consolidation, with ADX signaling steady momentum.