5 Stock to buy: Nifty 50 outlook, Iran- Israel war.
On Tuesday, the market traded in a narrow range and ended flat after a sharp decline on Monday. The benchmark Nifty-50 index closed at 25,796.90, marginally (0.05%) lower. The S&P BSE Sensex also finished 0.04 lower at 84,266.29. The Bank Nifty closed at 52,922.60, down 0.10% on Tuesday, and Wednesday was a market holiday. The current market texture is non-directional, so level-based trading would be the ideal strategy for day traders. After the sharp decline in the last three trading sessions, a pullback is expected as the hourly momentum setup is pointing towards a counter-trend pullback towards 53,400 – 53,500.
Stock to buy:
Dr. Lal Pathlabs LTD- Dr. Lal Pathlabs is currently trading at ₹3,415.65, having consistently formed higher highs and higher lows over the past few months. If Dr. Lalpathlabs holds above the critical level of ₹3,460, it is likely to extend its upward movement toward the target of ₹3,620.
Tata Chemicals Ltd- Tata chemicals is currently trading near ₹1,132.6, having formed a strong bullish candle, indicating a continuation of upward momentum. If Tata Chemicals can sustain above the ₹1,140 level, it is poised to move higher, potentially reaching the target price of ₹1,201.
Rashtriya Chemicals & Fertilisers- Rashtriya Chemicals & Fertilisers stock has found a substantial support level at ₹180, marking a crucial juncture in its recent trading.
Sonata Software Ltd- In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged, the stock’s price potentially reaching around Rs 650.
Oil and Natural Gas Corporation- On the daily chart of this stock, a breakout at the ₹292 price level has been observed, signaling a potential upward trend.
