PNB NMDC
PNB, NMDC Among Six Stocks Recommended for Short-Term Gains
Stock market benchmarks ended lower on Monday amid weak sentiment ahead of fresh US sanctions on Iran, with oil prices staying above $92 per barrel. The US increased economic pressure on Iran to restore energy flows through the Strait of Hormuz, while Tehran warned the sanctions would not bring regional peace. This geopolitical tension kept market sentiment cautious.
Vishnu Kant Upadhyay of Master Capital Services noted that despite near-term volatility, the index remains above its ascending trendline and 55-day EMA, with 24,000 acting as immediate support and 24,320 as near-term resistance. He and Hitesh Tailor of Choice Broking recommended six stocks for short-term buying over the next one to two weeks.
Upadhyay highlighted PNB’s bullish structure, noting it trades above its recent breakout zone and 21-day EMA, with higher highs and higher lows confirming an uptrend. He added that the stock remains above key long-term EMAs, suggesting sustained momentum if short-term averages hold.
He also pointed to Brigade Enterprises’ strong breakout from an ascending triangle pattern, supported by rising volumes and consistent higher highs and lows, indicating healthy buyer participation and a positive trend.
Prestige Estates showed a positive technical setup after breaking out of a flag-and-pole formation, with strong support from its 55-day EMA. Upadhyay noted MACD turning positive and favourable momentum indicators, signalling renewed buying interest.
Tailor recommended NMDC after it formed a bullish reversal from its 200 EMA support, reclaiming the 20, 50, and 100 EMAs. The RSI (14) crossed above its signal line and 50 threshold to reach 54.73, reflecting strengthening momentum. He advised a stop loss at ₹82.50 and a target of ₹92.
V-Mart Retail was noted for breaking out of prolonged consolidation, trading above all major EMAs (20, 50, 100, 200) in a positive sequence. Tailor cited an RSI of 69.20 as evidence of robust buying pressure, with a stop loss at ₹810 and target of ₹940.
Glenmark Pharmaceuticals showed a fresh bullish breakout above a symmetrical triangle formation, reclaiming key short- and medium-term EMAs. With RSI at 63.94, Tailor said the setup favours uptrend continuation, suggesting fresh buying around ₹2,390, a stop loss at ₹2,250, and an upside objective of ₹2,600.
The article includes a disclaimer stating the views are those of individual analysts and not investment advice, urging investors to consult certified experts before making decisions.
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