Kolkata: The resumption of hostilities in West Asia and the declaration of US president Donald Trump that the ceasefire is over has brought back turbulence in the market with a bang. However, for short-term gains Choice Broking has assigned Buy rating on three stocks — Ather Energy, Exide Industries and Titan. On Wednesday, July 8, Sensex fell 2.15% or 1,677.12 points to close at 76,503.60, while the broader Nifty 50 closed at 23,882.05, falling 2.12% or 516.65 points. For the benefit of investors, Hitesh Taylor, technical research analyst at Choice Broking has recommended stop loss along with target price for all three stocks. let’s have a closer look at the stocks.
Market price: Rs 1,204.00
According to experts, Ather Energy’s stock is showing strong bullish signals. The stock is consistently making higher highs and higher lows on the daily chart. It is trading above all its key EMAs, indicating a strong trend. Experts have recommended buying at Rs 1,200. The stop loss is set at Rs 1,130 and the target is Rs 1,340. From current levels, it could rise by approximately 11.7%.
Market price: Rs 421.15
Exide Industries shares have shown signs of a rally. The company’s stock has formed a bullish golden crossover and has broken above its previous swing high. This suggests a strong buying opportunity. Experts have recommended buying around Rs 421. The stop-loss is set at Rs 400 and the target is set at Rs 455. This means there’s potential for an upside of approximately 8%.
Market price: Rs 4,580.00
Titan Company stock has given a rounding bottom breakout and is holding above the breakout level. The stock is trading above all its key EMAs. Experts say that strong volume and improving technical signals are supporting further upside. A buy call is given at Rs 4586, a stop loss of Rs 4400, and a target of Rs 5000. This could lead to a gain of approximately 9% in the stock.
Choice Broking has stated that the RSI for all three stocks is strong, and a pattern of higher highs and higher lows is visible on the charts. Furthermore, the stocks are trading above their key moving averages. Breakouts have been observed in Ather Energy and Titan, while a golden crossover in Exide Industries is signaling a bullish trend.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, InvITs and any form of alternative investment instruments and crypto assets.)
Click for more latest Markets news. Also get top headlines and latest news from India and around the world at News9.
Avijit Ghosal has been writing on topics of business, industry and investment for the past three decades. He also writes on the broad economy, infrastructure and issues in banking. He has worked for economic dailies such as the Business Standard, The Economic Times, business magazines such as Business Today, English broadsheet the Hindustan Times and Bengali daily Anandabazar Patrika before joining TV9 Network.