In an exclusive interview with CNBC-TV18, Shivangi Sarda of Motilal Oswal Financial Services, has identified two stocks, BHEL and NMDC, that are poised for a strong upmove in the current market scenario.

Share Market Live

NSE

Bharat Heavy Electricals Limited (BHEL) is the first stock on her radar. Observing its recent performance, she noted that the stock has broken out of its range on the weekly frame, signaling positive momentum. Sarda emphasized a significant surge in trading volume over the past week, highlighting increased investor interest.

"The stock is holding above its previous hurdle zone of ₹132, which is a positive sign. BHEL is looking quite optimistic for a substantial upmove," Sarda said.

She recommends a buy on BHEL, setting a target price in the range of ₹139-140. Additionally, she identifies ₹131 as a crucial support level to monitor.

Over the past month, BHEL shares have gained more than 5%, reflecting the growing confidence among investors.

Sarda's second pick is NMDC, a stock that has demonstrated remarkable resilience over the last six to seven months. She noted that the supports for NMDC are gradually shifting higher, making it an attractive option for investors even during small declines. The stock has been following an upward-sloping channel, indicating a positive trend.

"The outlook for NMDC is quite favorable, with a target price around ₹ 182 and a strong support zone near ₹172," Sarda added.

In the last month alone, the stock has surged by more than 10%.

Disclaimer:

The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.