Technical Picks
Vaishali Parekh recommends CG Power, Graphite India, Bectors Food with specific buy levels
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, identified three stocks for potential buying interest in a truncated trading week marked by sharp corrections in benchmark indices. The Nifty 50 declined by 3.10% while the Sensex dropped nearly 2000 points, with consumer and auto sectors leading the losses at 6.15% and 5.85% respectively.
She noted that the market formed a long bearish candle on weekly charts and continued making lower highs and lower lows on intraday charts, signaling a sustained negative trend. According to Parekh, the Nifty 50 has crucial support at 21,800, and a decisive break below this level could intensify selling pressure on Dalal Street.
Parekh observed that the Nifty 50 touched near the 22,180 zone during the week’s decline before closing just above 22,400, with overall market sentiment significantly weakened. She outlined key levels: support near 22,200, a critical level at 21,800 that must be held to avoid a weaker trend, and a potential revival zone above 23,000.
For Monday’s trading session, Parekh recommended buying CG Power at ₹879 with a target of ₹930 and stop-loss at ₹860; Graphite India at ₹786 with a target of ₹825 and stop-loss at ₹770; and Bectors Food at ₹213 with a target of ₹227 and stop-loss at ₹208.
The analysis was shared for educational purposes, with a disclaimer advising investors to consult certified financial experts before making investment decisions. The views expressed are those of the analyst and not of Mint or its affiliates.
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