The Indian stock market continues its upward trajectory, hitting record highs on Tuesday. As we look ahead to Wednesday, here are five stock recommendations drawing attention from market experts:
ACC (Buy at Rs 2,182.2)
Target Price: Rs 2,494
Stop Loss: Rs 2,026
ACC is displaying a significant breakout of a Cup and Handle pattern, a potential indicator of a bullish trend. The surge in volume this week suggests strong buying interest, reinforcing the positive outlook. Trading above key Exponential Moving Averages (EMAs) adds confidence to the sustained uptrend.
Adani Enterprises (Buy at Rs 2,971)
Target Price: Rs 3,673
Stop Loss: Rs 2,620
Adani Enterprises has witnessed a breakout of a Rectangle Pattern, signaling an uptrend. Increased buying interest, along with positive Slow and Long EMA indicators, supports the bullish scenario. The breakout in the Relative Strength Index (RSI) further strengthens the upside move.
Godrej CP (Buy between Rs 1,030-1,040)
Target Price: Rs 1,100
Stop Loss: Rs 1,005
After a multi-month downtrend, Godrej CP has surpassed the hurdle near Rs 1,030, with multiple bullish candles indicating a shift in the range on the upside.
Sun Pharma (Buy at Rs 272-282.3)
Target Price: Rs 304-325
Stop Loss: Rs 261
Sun Pharma shows an upside breakout and a Rounding Bottom formation on the weekly chart. Weekly RSI turning up signals further potential for price appreciation.
TV18 Broadcast (Buy at Rs 50-52.5)
Target Price: Rs 58-63
Stop Loss: Rs 48
TV18 Broadcast has reversed its downward correction, breaking above the crucial hurdle of Rs 51.50. Increasing volume during the breakout and a rising daily RSI suggest strengthening upside momentum.
Disclaimer: The recommendations provided are the opinions of market experts and do not necessarily reflect the views of Economic Times.