5 days ago
Ajit Mishra Recommends Trades in Granules, HAL and HUL Shares
Ajit Mishra shared trading ideas for three Indian companies.
He expects the overall market to remain cautious because oil prices are high and geopolitical tensions are continuing.
He said the Nifty may move within a range after recently falling.
Granules India has been rising and is trading above several important moving averages.
Mishra suggested buying or accumulating the stock with a target of ₹970.
Hindustan Aeronautics Limited has also shown strength after breaking out of a trading pattern.
For Hindustan Unilever Limited, he expects weakness and suggested selling futures.
These strategies include target prices and stop losses to help manage risk.
Ajit Mishra of Religare Broking expects a cautious market amid elevated crude prices, geopolitical uncertainty and foreign institutional investor outflows.
He sees Nifty support at 23,100–23,300 and resistance at 23,600–23,800.
Granules India is rated Buy with a ₹970 target and ₹863 stop loss.
Hindustan Aeronautics Limited is rated Buy with a ₹5,350 target and ₹4,750 stop loss.
Hindustan Unilever Limited is rated Sell Futures with a ₹1,880 target and ₹1,980 stop loss.
- Who
- Ajit Mishra, Senior Vice President of Research at Religare Broking, provided the recommendations.
- What
- He recommended buying Granules India and Hindustan Aeronautics Limited, while suggesting a futures sell trade for Hindustan Unilever Limited.
- Where
- The recommendations concern India’s domestic stock market.
- When
- The recommendations were issued after Thursday’s market session, with expectations for Friday trading.
- Why
- Mishra cited technical strength in Granules India and Hindustan Aeronautics Limited, but technical weakness in Hindustan Unilever Limited; he also warned of high crude prices, geopolitical uncertainty and persistent foreign institutional investor outflows.
Key facts
- Market close
- The Sensex and Nifty 50 each rose 0.20% on Thursday, ending three consecutive losing sessions.
- Market outlook
- Mishra expects a cautious-to-negative tone and recommends stock-specific positions with strict risk management.
- Nifty support
- 23,100–23,300
- Nifty resistance
- 23,600–23,800
- Granules India
- Buy; last traded price ₹899.25; target ₹970; stop loss ₹863.
- Hindustan Aeronautics Limited
- Buy; last traded price ₹4,950; target ₹5,350; stop loss ₹4,750.
- Hindustan Unilever Limited
- Sell Futures; last traded price ₹1,946.90; target ₹1,880; stop loss ₹1,980.
Quotes
Ajit Mishra
Senior Vice President of Research at Religare Broking
“Considering the overall technical setup, the stock offers a favourable accumulation opportunity and can be considered for accumulation on a cash-delivery basis.”
livemint.com
“We expect selling pressure to persist, and hence, traders can look for selling opportunities through futures.”
livemint.com
Sources
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