Indian equities concluded largely subdued as investors remained cautious amid geopolitical uncertainties, fluctuating oil prices, and weak Asian market trends. While inflation concerns weighed on financials and realty, the chemicals space emerged as a bright spot, supported by the reinstatement of import duties on select petrochemicals, alongside strong earnings traction.
Here are 2 stock recommendations for Friday
Chennai Petroleum - Buy | Buying Zone: Rs 1241 | Stop-loss: Rs 1169 | Target: Rs 1374
Chennai Petroleum Corporation has delivered a decisive breakout above a falling channel and its previous swing high, supported by a strong bullish candle and a sharp surge in trading volumes, signalling aggressive buying interest. The stock is trading comfortably above its 20, 50, 100 and 200- day moving averages, reinforcing a strong bullish trend across multiple timeframes.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
ABB India - Buy | Buying Zone: Rs 7668 | Stop-loss: Rs 7187 | Target: Rs 8566
ABB India has confirmed a decisive breakout above a long-term descending trendline, signalling the end of a prolonged consolidation phase and the resumption of its primary uptrend. The breakout is accompanied by a strong bullish candle and a significant surge in trading volumes, indicating robust institutional buying interest. The stock is trading comfortably above its 20, 50, 100 and 200- day moving averages, reflecting a strong bullish setup across multiple timeframes.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
