Domestic equities exhibited resilience, with broader markets outperforming large caps amid positive Asian cues. Softer US inflation data supported sentiment, while the Fed maintained its focus on price stability without turning more hawkish. Q1 earnings remained the key domestic catalyst, though higher crude prices due to West Asia tensions capped gains and triggered profit booking.
Here are 2 stock recommendations for Thursday
Inox India - Buy | Buying Zone: Rs 1964 | Stop-loss: Rs 1840 | Target: Rs 2050-2150
Inox India has shown a strong recovery after finding support near the lower end of its consolidation range and is now attempting to move above the short-term falling trendline, indicating a revival in buying momentum. The stock continues to trade above its 20, 50, 100 and 200-day EMAs, keeping the broader trend firmly positive, while RSI has turned higher above 57, supporting the bullish outlook.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Action Construction Equipment - Buy | Buying Zone: Rs 1,004 | Stop-loss: Rs 945 | Target: Rs 1050-1100
Action Construction Equipment (ACE) is showing signs of a bullish reversal after breaking above a short-term falling channel, indicating that the recent corrective phase may be ending. The stock continues to trade above its 50, 100 and 200-day EMAs, while reclaiming the 20-day EMA, suggesting improving short-term momentum.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
