Analyst Recommends NTPC Green, Balramchini, and Trent Stocks for Investment
Buy NTPC Green, Balramchini, Trent: Analyst picks three stocks today
Business Standard
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Analyst Jatin Gedia from Teji Mandi Investment Technologies recommends buying NTPC Green, Balramchini, and Trent stocks, citing positive technical indicators. The Nifty index is expected to hold support around 23,300–23,400, with a potential rise towards 23,800 in the coming sessions.
- 01Nifty index shows support at 23,300–23,400, with a target of 23,800.
- 02NTPC Green has broken out of a falling wedge pattern, indicating an uptrend.
- 03Balramchini has broken out of a triangle pattern, signaling further gains.
- 04Trent stock shows short-term strength with bullish sentiment.
- 05Bank Nifty is expected to consolidate between 53,200 and 54,500.
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The Nifty index opened flat and experienced volatility, reaching a support level between 23,300 and 23,400. This area aligns with the 50% Fibonacci retracement level of the previous rally. Analysts expect the Nifty to maintain this support and target 23,800 in the upcoming sessions. Jatin Gedia from Teji Mandi Investment Technologies recommends buying three stocks: NTPC Green at a current market price (CMP) of ₹111.25, with a target of ₹118; Balramchini at ₹548.9, targeting ₹583; and Trent at ₹4,084.5, aiming for ₹4,430. Each stock shows positive technical indicators, suggesting potential for upward movement. Meanwhile, the Bank Nifty closed lower, trading around 53,700, and is expected to consolidate within the 53,200–54,500 range.
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Investors considering these stocks may see potential gains in their portfolios if the recommendations hold true. The Nifty's expected upward movement could also influence market sentiment positively.
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