The stock market continued to rally ahead on Tuesday after making a sharp recovery on Monday. Around 1:14 PM, the BSE Sensex climbed more than 100 points to touch 78,647.54, while the NSE Nifty50 inched up 25 points to trade at 23,778.65.
Stock Recommendations By Kunal Kamble, Senior Technical Research Analyst At Bonanza
Mankind Pharma Ltd
Mankind Pharma Ltd showed bullish signs on its daily chart, forming a rounding bottom pattern and recently breaking the upper trendline. The increasing volume indicated growing investor confidence. Overall, these indicators suggest the stock could rise to around Rs 3,250, with support around Rs 2,875.
Devyani International Ltd
Devyani International Ltd recently broke out of a rectangle pattern on the daily chart, indicating a strong bullish setup with potential for further price gains. The breakout was backed by a surge in volume, reflecting increased buying interest. Together, these technical indicators point to a solid bullish trend for Devyani International Ltd in the near term.
Coromandel International Ltd
Coromandel International Ltd showed bullish signs on its daily chart, forming a Cup and Handle pattern and recently formed a positive candle. The increasing volume indicated growing investor confidence. The stock traded above important moving averages, indicating a bullish momentum. Overall, these indicators suggested the stock could rise to around Rs 2,000, with support around Rs 1,790.
Camlin Fine Sciences Ltd
Camlin Fine Sciences Ltd witnessed a breakout from a Cup and Handle pattern on the daily chart, signifying increased buying interest supported by a consistent rise in volume. A long position is advisable based on this technical setup, with a stop-loss at Rs 123 and a potential target in the range of Rs 135.
Jubilant Foodworks Ltd
Jubilant FoodWorks Ltd recently broke out from a pennant formation on the daily chart, indicating that bullish momentum is prevailing. This pattern suggested a continuation of the prior uptrend, with the potential for further price appreciation. Given the current technical setup, the stock may experience further buying interest up to the Rs 730 level, with immediate support around Rs 660.
[Disclaimer: Investing in the stock market involves financial risks. Please invest responsibly and only after thorough research and careful consideration. Reader discretion is advised.]
