Markets witnessed a strong rebound on Wednesday, with benchmark indices gaining over 1% amid encouraging quarterly earnings and sustained buying in IT heavyweights. After a firm gap-up start, the Nifty traded with a positive bias throughout the session and gradually extended its gains before settling at 24,250. The attention now shifts to the US Fed's policy decision due later tonight, with the widely expected pause in rates unlikely to materially impact Indian markets, as it is mostly already priced in.
Here are two stock recommendations for Thursday
Lloyds Metals - Buy | Buying Zone: Rs 2,051 | Stop-loss: Rs 1,940 | Target: Rs 2,150-2200
Lloyds Metals and Energy has confirmed a strong breakout above the upper boundary of its ascending consolidation pattern, supported by a notable rise in volumes, indicating renewed buying interest. The stock continues to trade well above its 20/50/100/200-day EMAs, reaffirming a strong primary uptrend, while RSI near 70 reflects robust momentum despite approaching the overbought zone.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Ashapura Minechem - Buy | Buying Zone: Rs 708 | Stop-loss: Rs 675 | Target: Rs 740-760
Ashapura Minechem has given a breakout above the falling trendline after a prolonged consolidation, indicating renewed buying interest. The stock is trading above all key moving averages (20/50/100/200 EMA), reaffirming the medium-term bullish trend, while RSI has turned higher above 55, reflecting improving momentum.
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)
