Market Trading Guide: Buy RR Cable, Siemens for Short-Term Gains of Up to 6%; check triggers

Nifty ended sharply lower on Friday amid broad selling pressure. Auto, financial sector and FMCG stocks were the key laggards, while the IT sector witnessed selective buying. The index has fallen sharply after remaining below the key short-term moving average for three consecutive sessions.Rupak De, Senior Technical Analyst at LKP Securities, noted that the index has also fallen below the 200-day moving average (DMA), indicating continued near-term weakness. “The RSI indicator has turned strongly bearish. In the short term, the index may remain under selling pressure with rallies likely to be sold off. Immediate support is placed at 25,000 and 24,750, while resistance is seen at 25,370,” De said.

Here are 2 stock recommendations for Monday: Buy RR cable at Rs 1,562 | Benefit: 6%

Stop loss: less than Rs 1,515

Target: Rs 1,655

RR Cable is showing a bullish continuation on the weekly time frame. The price has broken above a multi-month consolidation zone near Rs 1,520 – Rs 1,550, confirming a range break. The stock is trading above the 20/50/100/200 EMAs, indicating strong trend alignment and a bullish structure over the medium term. The 20 EMA has crossed the 50 EMA, supporting positive momentum. The RSI (14) is around 58-60 and remains above the midline without being overbought, indicating further upside potential. Volume expansion at breakout strengthens the move. Higher highs and higher lows confirm the trend reversal from the previous correction phase.(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)

Buy Siemens at Rs 3,418 | Benefit: 6%

Stop loss: Rs 3,315 – Rs 3,330

Target: Rs 3,590 – Rs 3,620

Siemens Limited has made another breakout on the daily chart, closing decisively above the recent swing highs with strong bullish momentum. The price is trading above the 20/50/100/200 EMAs, indicating an established uptrend. The RSI is hovering near the 65 zone, reflecting the strengthening momentum without entering the extreme overbought territory. Volume expansion during the breakout further confirms buying interest. Traders may consider initiating new long positions at current levels, maintaining strict risk management as long as the price remains above the breakout zone.

(Drumil Vithlani, 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)