Nifty and Sensex End in Red: 5 Stocks to Buy on Tuesday for Up to 13% Gains
India’s headline indices Nifty and the BSE Sensex ended in the red on Monday, witnessing their seventh consecutive loss led by selling pressure in auto, IT, and pharma stocks. Nifty faced selling pressure near its 20-EMA on the hourly chart on Monday, ending the day at a weaker ground.
Commenting on the day’s action, Vatsal Bhuva, Technical Analyst at LKP Securities said that technical and derivative cues suggest Nifty likely trading in a short-term range of 24,500–24,850 with volatility and a sideways-to-bearish undertone. ‘Derivative data showed PUT writing at 24,600 and 24,500 strikes, highlighting immediate support zones, while CALL writing at 24,700 and 24,800 indicated resistance. A sustained move above its 50-day EMA is needed to turn bullish,’ De said.
5 Stock Recommendations for Tuesday
Here are 5 stock recommendations for Tuesday, including BPCL, Fortis Health, and 3 more stocks with potential gains of up to 13%.
BPCL
Stop Loss: Rs 935
Target: Rs 1,011
The stock is in a strong uptrend, with the rising trendline acting as key support. During a minor correction, it found support near the 20-day EMA zone and closed strongly in Monday’s session, reflecting renewed buying interest. A hidden bullish divergence further signals the continuation of the ongoing uptrend, reinforcing the bullish outlook. Based on these technical cues, traders can consider buying the stock with a stop-loss placed at 935 to manage risk, aiming to capitalize on the potential continuation of the upward momentum.
Fortis Health
Stop Loss: Rs 255
Target: Rs 285
The stock has been trading in a range-bound pattern, with the 20-day EMA acting as key support. A breakout above the resistance level of 265 can lead to a potential target of 285, with a stop-loss placed at 255 to manage risk.
Other Stock Recommendations
In addition to BPCL and Fortis Health, here are 3 more stock recommendations for Tuesday:
- Stock 1: Stop Loss: Rs 420, Target: Rs 460
- Stock 2: Stop Loss: Rs 175, Target: Rs 195
- Stock 3: Stop Loss: Rs 310, Target: Rs 340
These stocks have shown strong technical trends and have the potential to deliver gains of up to 13% on Tuesday.
Conclusion
In conclusion, the Indian stock market is expected to remain volatile on Tuesday, with the Nifty and Sensex trading in a range-bound pattern. However, with the right stock picks, traders can capitalize on the potential gains of up to 13%. It is essential to keep a close eye on the market trends and adjust your trading strategy accordingly.
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