Market Trading Guide: Buy GRSE and Thyrocare Technologies on Monday for Up to 12% Gains

Nifty pared losses in the final hours of trade to end on a positive note for the fourth day in a row, led by stocks from the financial sector, pharma sector and FMCG, despite selling pressure in the auto and IT sectors. The late rally surprised many but was likely triggered by a resounding NDA victory in Bihar. Nifty found support around the 50-EMA on the hourly chart before the sharp intraday recovery, said Rupak De, Senior Technical Analyst at LKP Securities. He expects current sentiment to remain strong, with the potential to move towards 26,200/26,350 in the near term. “While there is meaningful resistance around 26,000, the size of the recovery late in the session points to a smart upside move in the coming days. On the downside, support is at 25,700, and as long as the index remains above this level, the bulls are unlikely to encounter any major resistance,” De said.

Here are 2 stock recommendations for Monday:

Buy GRSE at Rs 2,904 | Benefit: 10% | Stop loss: Rs 2,739 | Target: Rs 3,196

Garden Reach Shipbuilders & Engineers has broken out of its consolidation zone and, after a healthy retracement, has now closed above the recent swing high on the daily chart with a strong bullish candlestick, supported by volumes well above the 20-day average, indicating robust accumulation. The stock continues to trade firmly above the 20, 50, 100 and 200 day EMAs, reinforcing the strength of the prevailing uptrend, while the RSI at 72.75 and trending higher reflects strong bullish momentum, indicating the potential for further upside in the short term.

(Kunal Kamble, Senior Technical Research Analyst, Bonanza Portfolio)

Buy Thyrocare Technologies for Rs 1,568 | Positive: 12% | Stop loss: Rs 1,471 | Target: Rs 1,756
THYROCARE has exited the rounding pattern on the weekly chart and ended the session with a strong bullish candlestick, supported by volumes significantly above the 20-day average, indicating robust accumulation. The stock’s decisive positioning above the 20, 50, 100 and 200 day EMAs reinforces the strength of the prevailing uptrend, while the RSI at 75.21 and the upward trend underlines the strong bullish momentum, indicating ample room for further upside potential in the short term. (Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of Economic Times)