2 hrs ago
Religare’s Ajit Mishra Recommends IDFC First, PVR INOX; Titan Sell
The stock market rose for a third session in a row.
However, experts still think the market could move up and down sharply.
Ajit Mishra of Religare Broking suggested being careful instead of buying many stocks aggressively.
He recommended buying IDFC First Bank because its share price has recovered strongly.
He also recommended buying PVR INOX because its price trend and buying interest look positive.
For Titan Company futures, he recommended selling because the stock is showing signs of weakening.
Each recommendation included a price goal and a level at which investors should limit losses.
These are market views based on chart patterns, not guarantees of what will happen.
Nifty 50 rose about 0.40% intraday on Friday, 18 September, reclaiming the 23,360 mark.
Ajit Mishra advised a selective and hedged approach because the broader market structure remains cautious.
IDFC First Bank received a buy recommendation with a ₹93 target and ₹83 stop loss.
PVR INOX received a buy recommendation with a ₹1,380 target and ₹1,220 stop loss.
Titan Company futures received a sell recommendation with a ₹4,730 target and ₹4,930 stop loss.
- Who
- Ajit Mishra, senior vice president of research at Religare Broking, issued the recommendations.
- What
- Mishra recommended buying IDFC First Bank and PVR INOX, while recommending selling Titan Company futures.
- Where
- The recommendations concern Indian stock markets and the Nifty 50.
- When
- The market update was reported for Friday, 18 September; the article also refers to support from July 2026 for Titan Company.
- Why
- Mishra cited technical factors including price recoveries, breakouts, moving averages, momentum indicators and support or resistance levels.
Buy and Recovery View
Sell and Cautious View
IDFC First Bank and PVR INOX
Buy and Recovery View
Mishra recommended buying both stocks, citing strong recoveries, constructive momentum and potential for further upside.
Sell and Cautious View
The broader market remains cautious, and the article says investors should use a selective and hedged approach rather than aggressive positioning.
Titan Company outlook
Buy and Recovery View
Titan had previously rallied from ₹3,960 to ₹5,186 after finding support at its 200-EMA.
Sell and Cautious View
Mishra said Titan showed exhaustion after slipping below its 20-EMA and 50-EMA, breaking down from consolidation and recording an RSI below 50; he recommended selling futures.
Market direction
Buy and Recovery View
The Nifty 50’s ability to remain above the 23,000–23,100 zone was described as encouraging, with a move above 23,600 potentially supporting a stronger recovery.
Sell and Cautious View
A break below 23,000 could reopen downside pressure, while global interest-rate, oil-price and Middle East concerns could contribute to volatility.
Key facts
- Nifty 50 move
- Rose about 0.40% intraday to reclaim 23,360 on Friday, 18 September.
- Market view
- Mishra said markets may remain volatile and advised a selective, hedged approach.
- Nifty levels
- A sustained move above 23,600 could support recovery, while a break below 23,000 could renew downside pressure.
- IDFC First Bank
- Buy; target price ₹93; stop loss ₹83.
- PVR INOX
- Buy; target price ₹1,380; stop loss ₹1,220.
- Titan Company futures
- Sell; target price ₹4,730; stop loss ₹4,930.
- Global concerns
- The article cited elevated oil prices, recent interest-rate increases by major central banks and uncertainty surrounding the US-Iran conflict.
Quotes
Ajit Mishra
SVP of Research at Religare Broking
“We expect the stock to sustain its positive bias, supported by favourable price action and constructive momentum indicators. Investors may look for momentum-led accumulation while adhering to the mentioned levels.”
livemint.com
“The RSI indicates weakening momentum, trading below 50. All these factors indicate the possibility of further decline ahead. Participants may consider creating short positions as per the given levels.”
livemint.com
Sources
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