Market Trading Guide: Federal Bank, Inox Green among 4 stock recommendations for Thursday – Stock Ideas


Target price: Rs 1,000-1,050
Stop Loss: Rs 765

Shilpa Medicare is currently trading at Rs 844.65 and has formed a symmetrical triangle pattern, indicating a strong bullish reversal from its support level on the daily chart. This upward momentum is supported by a significant increase in trading volumes, suggesting potential momentum for a bullish breakout.

If the price closes above Rs 845, the stock can reach short-term targets of Rs 1,000 and Rs 1,050. On the downside, immediate support lies at Rs 800, which provides favorable buying opportunity on dips. The RSI is currently at 53.89 and moving upwards, indicating increasing buying pressure. For effective risk management, stop-loss at Rs 765 is recommended to protect against any unexpected market reversals.

(Mandar Bhojne, Equity Research Analyst, Choice Broking)

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

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