Market Insights: Buy CESC and Trent for Potential Gains
Market Trading Guide: Buy CESC and Trent on Tuesday for near term gains up to 9%
The Economic TimesImage: The Economic Times
The Nifty index showed marginal gains on Monday, driven by SBI and ICICI Bank. Analysts recommend buying CESC at ₹180 for a potential upside of 6% and Trent at ₹4,250 for a 9% gain, highlighting strong bullish trends in both stocks.
- 01Nifty index ended with marginal gains due to heavyweights SBI and ICICI Bank.
- 02CESC is recommended for purchase at ₹180 with a target of ₹190.
- 03Trent is advised for buying at ₹4,250 with a target of ₹4,650.
- 04Both stocks show bullish trends and strong buying momentum.
- 05Immediate resistance for Nifty is at 24,500, with support at 24,270.
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The Nifty index managed to recover from its lows on Monday, closing with slight gains, primarily due to contributions from major stocks like SBI and ICICI Bank. According to Rupak De, Senior Technical Analyst at LKP Securities, the index rose above the previous session's high but faced resistance near 24,500, which is crucial for sustaining the current rally. Support is noted at 24,270. Analysts recommend buying CESC at ₹180 with a target price of ₹190, indicating a potential upside of 6%. CESC is showing strong bullish momentum, having broken out from a consolidation pattern. Additionally, Trent is suggested for purchase at ₹4,250, with a target of ₹4,650, reflecting a potential gain of 9%. Trent has demonstrated a bullish reversal, reclaiming key moving averages and showing signs of accumulation. Both stocks exhibit strong buying pressure and positive momentum, making them favorable for short-term gains.
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Investors looking to capitalize on short-term gains can consider these recommendations, potentially enhancing their portfolio value.
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