Stock Ideas
Bears remained firmly in control as the market breached a key psychological support level on Monday, reflecting growing investor caution amid deteriorating global macro conditions. The US rejection of the ceasefire proposal has heightened concerns that tensions in West Asia could persist for longer than anticipated, reducing the likelihood of a near-term diplomatic resolution and increasing the risk of prolonged supply-side disruptions and higher commodity prices. Analysts say rising US bond yields are narrowing the India-US yield spread, potentially leading to foreign fund outflows and keeping market sentiment cautious.
Here are 3 stock recommendations for Tuesday
Elecon - Buy: 481
Stop-loss: Rs 482
Target: Rs 525
Elecon has shown a positive setup after breaking out of a well-defined rectangle channel formed between Rs 400 and Rs 455 during August and September. The recent candle indicates a decisive upside breakout above the key resistance zone around Rs 455, supported by strong buying momentum.
Sachin Gupta, VP – Research, Choice Equity Broking
Endurance Technologies - Buy: 2700
Stop-loss: Rs 2606
Target: Rs 2900
Endurance Technologies has shown a positive price setup on the daily chart after correcting from its recent peak near Rs 3,050 and finding support at a crucial multi-month ascending trendline originating from May. The stock has repeatedly bounced from this dynamic support zone over the past few sessions and has also taken support at its 200-day EMA, indicating buying interest at lower levels and the possibility of a recovery in the near term.
Sachin Gupta, VP – Research, Choice Equity Broking
Quality Power - Buy: 1593
Stop-loss: Rs 1496
Target: Rs 1800
Quality Power has shown a positive setup on the daily chart after breaking out of a multi-week consolidation range and decisively crossing the key resistance zone of Rs 1,530–1,540. The stock has also taken a retracement near its 20-day and 50-day EMAs, followed by a strong recovery that has resulted in a fresh multi-month swing high.
Sachin Gupta, VP – Research, Choice Equity Broking
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘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 disclosures here.
