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Indian equity markets continue to trade rangebound as global trade tensions, sustained FII outflows, and subdued earnings season weighed on investor sentiment.
SEBI-registered analysts Vinay Taparia and Vinayak Gautam have identified select stocks based on their technical strength or breakout potential.
Let’s take a look at Taparia’s stock recommendations:
Diamines & Chemicals
Diamines has given a small breakout with good volume. The stock can move to ₹460-₹510 levels in next six to nine months, but a close below ₹365 negates this view.
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC)
GNFC is consolidating above the upward moving trendline.The stock can move to ₹580-₹620 level in next six to nine months, but a close below ₹520 would invalidate this outlook.
R Systems International
R Systems has given a good breakout after a few days of down trend. The stock can move to ₹480-₹500 level in next six months. A close below ₹405 negates this view.
Meanwhile, analyst Vinayak Gautam has identified three stocks with a one-week trading timeframe.
Mankind Pharma: One can buy this stock at ₹2,553, with a target price of ₹2,750 for a stop loss at ₹2,490.
Datamatics: One can buy this stock at ₹1,050, with a target price of ₹1,080 for a stop loss at ₹1,035.
Waaree Energies: One can buy this stock at ₹3,218, with a target price of ₹3,400 for a stop loss at ₹3,110.
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