Market Overview
On October 14, the Indian stock market indices showed positive momentum, with the Nifty 50 closing 0.66% higher at 25,127.95 points and the BSE Sensex rising 0.73% to finish at 81,973.05 points. This growth was largely driven by significant gains in heavyweight stocks like Infosys and HDFC Bank.
Key Technical Indicators
Vaishali Parekh noted that the Nifty 50 index has established a support level at 25,000 points and faces resistance at 25,300 points. After consolidating near the 25,000 mark for some time, the index has shown a positive candle formation above the significant 50 EMA level at 25,050. For the Bank Nifty index, Parekh anticipates a trading range between 51,400 and 52,600.
Stock Recommendations
Indusind Bank
→ Buy Price: ₹1,368
→ Target Price: ₹1,400
→ Stop Loss: ₹1,345
→ Analysis: The stock is positioned well for growth with a solid technical setup.
Tejas Networks
→ Buy Price: ₹1,210
→ Target Price: ₹1,250
→ Stop Loss: ₹1,190
→ Analysis: Positive momentum is expected as it approaches key resistance levels.
Marksans Pharma
→ Buy Price: ₹297
→ Target Price: ₹315
→ Stop Loss: ₹288
→ Analysis: The stock shows potential for upward movement based on recent trends.
Conclusion
Investors looking for opportunities may find these recommendations from Vaishali Parekh valuable as they align with current market trends and technical indicators. However, it is crucial for investors to conduct their own research or consult with financial advisors before making any investment decisions.
Disclaimer
The views and recommendations provided in this article are those of individual analysts and do not represent the views of Mint. We advise investors to consult with certified experts before making any investment decisions as market conditions can change rapidly and individual circumstances may vary.
