Invest4edu's Aditya Agarwala believes that the current market is strong, prompting him to recommend a few long trades in the IT (Information Technology) and FMCG (Fast-Moving Consumer Goods) sectors.
NSE
Based on his analysis, Agarwala suggests considering Marico as the first stock pick. He notes that the stock has recently broken out from a period of consolidation, accompanied by decent volumes. Additionally, the technical indicators indicate a continuation of the upward move.
Agarwala proposes a target price of Rs 556 with a stop loss at Rs 528, recommending initiating a long position in Marico. It's worth mentioning that Marico's shares have declined by over 1 percent in the last month.
Moving on to the second stock, Agarwala identifies Tech Mahindra as an attractive opportunity. He observes that the stock has emerged from a prolonged consolidation pattern, signifying its strength.
Considering the risk-to-reward ratio to be favorable, he suggests going long on Tech Mahindra with a target price of Rs 1,270 and a stop loss at Rs 1,110. Over the past month, the stock has witnessed an increase of more than 6 percent.
Agarwala's analysis highlights the potential for profitable trades in Marico and Tech Mahindra based on their recent breakout patterns.
However, it is important to note that investing in the stock market involves risks, and individual investors should conduct their own research and consult with financial advisors before making any investment decisions.
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