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Market Trading Guide: Bajaj Finance and a smallcap stock offer up to 5% upside in near term. Here’s why
Commenting on the technical charts, Rupak De, Senior Technical Analyst at LKP Securities, said that the setup has turned relatively cautious, with the index slipping below its 20-DMA for the first time in the past few sessions. Additionally, it has breached the 38.2% Fibonacci retracement of the prior up move from 24,571 to 26,341, he added. “With the index closing below the key support level of 25,500, the near-term bias appears weak, and there is potential for a decline toward the 25,000 mark in the short term. On the upside, immediate resistance is seen around 25,800,” De said.
Here are 2 stock recommendations for Friday:
Buy Kirloskar Oil Engines at Rs 1,375-1,385 | Upside: 5% | Target: Rs 1,500 | Stop Loss: Rs 1,320
Kirloskar Oil Engines is currently taking a breakout of the rounding bottom formation on the daily time frame. The RSI is trending upward, reflecting positive momentum, and the stock finds support at the 21-day EMA, with all key EMAs rising. The stock is trading above important moving averages, indicating a bullish trend. 1,320 could work as an immediate support, and a hurdle can be seen at 1,500.(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
Buy Bajaj Finance at Rs 1,024-1,026 | Upside: 4% | Stop Loss: Rs 990 | Target: Rs 1,070
Bajaj Finance is currently taking a breakout of the downward-moving channel on the daily time frame. The lower trend line has provided support, accompanied by the formation of a bullish candlestick pattern, indicating a potential short-term upward movement in the stock. Momentum Indicator RSI is trading near the overbought region, which confirms the bullishness in the script.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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I am a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management. My focus is on equity valuation, market trends, and portfolio optimization to uncover high-growth investment opportunities. As a former Vice President at Barclays, I led teams in model validation, stress testing, and regulatory finance, developing a deep expertise in both fundamental and technical analysis. Alongside my research partner (also my wife), I co-author investment research, combining our complementary strengths to deliver high-quality, data-driven insights. Our approach blends rigorous risk management with a long-term perspective on value creation. We have a particular interest in macroeconomic trends, corporate earnings, and financial statement analysis, aiming to provide actionable ideas for investors seeking to outperform the market.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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