Invest in Tata Consumer and Welspun Corp for Potential Gains
Market Trading Guide: Buy Tata Consumer and Welspun Corp on Tuesday for gains up to 14%
The Economic TimesImage: The Economic Times
The Nifty index has faced a downward trend, closing lower for three consecutive days. Analysts recommend buying Tata Consumer Products at ₹1,270 with a potential upside of 14%, and Welspun Corp at ₹1,329 with an 8% upside, as both stocks show strong bullish trends.
- 01Nifty index is in a bearish phase, closing lower for three days.
- 02Tata Consumer Products is recommended at ₹1,270 with a target of ₹1,385.
- 03Welspun Corp is suggested at ₹1,329 with a target of ₹1,435.
- 04Both stocks exhibit strong bullish momentum and institutional buying.
- 05Immediate support for Nifty is at 23,700, with resistance at 24,000.
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The Nifty index has been on a downward trajectory, closing lower for the third consecutive day, primarily due to significant selling in the banking, auto, and energy sectors. Rupak De, Senior Technical Analyst at LKP Securities, noted that the index has broken down from a consolidation phase, indicating a potential bearish trend with immediate support at 23,700 and resistance at 24,000. Analysts recommend buying Tata Consumer Products at ₹1,270 with a target price of ₹1,385, citing a strong bullish breakout from a long-term consolidation structure. The stock has shown consistent higher lows and increased buying volume, indicating strong momentum. Similarly, Welspun Corp is suggested at ₹1,329, targeting ₹1,435, as it exhibits a bullish continuation pattern with a clear trend of higher highs and lows. Both stocks are seen as favorable for positional buying amid current market conditions.
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Investors looking to capitalize on market trends may find opportunities in Tata Consumer and Welspun Corp, potentially enhancing their portfolios amid a bearish market.
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