Domestic market endured a choppy session on expiry day amid weak Asian cues, as investor focus remained closely tethered to the volatility in crude prices. Although the strong August equity fund flow data and the moderation in the SIP stoppage ratio lent support to the markets, sentiment was tempered by the depreciating rupee and firming domestic bond yields.
Here are three stock recommendations for Friday
Buying Zone: 1418-1425 | Stop-loss: Rs 1340 | Target: Rs 1580
Finolex Cables has delivered a strong daily breakout above its resistance zone near 1,3601,370, closing at 1,418.40 (+4.80%). Supported by price holding comfortably above its key exponential moving averages, an influx of positive volume, and an RSI advancing toward 68 into strong bullish territory, the chart setup confirms sustained upside momentum.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Buying Zone: 317.5-319 | Stop-loss: Rs 303 | Target: Rs 345
Jindal Saw has printed a strong bullish daily breakout bar, pushing past prior resistance near 315 to reach 317.50 (+1.86%). Guided closely by its short-term exponential moving averages and supported by an RSI expanding above 70 into bullish territory, the chart setup confirms sustained upward momentum for immediate continuation.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Buying Zone: 342.5 | Stop-loss: Rs 306 | Target: Rs 412
Recently, after forming higher bottoms, the stock has given a Symmetrical Triangle Breakout on the daily chart supported by volumes with a bullish candle reaching to a high of 344.65 (SEP 26), which is higher than the previous swing tops. Indicators like MACD momentum expands, RSI trading above 50 & Advance/ Decline suggests positive crossover. The stock is trading above 200 SMA.
Bharat K Gala – Head of Technical – Ventura
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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