Market Trading Guide: Balrampur Chini Mills among 4 stock recommendations for Wednesday
Indian equities advanced on Tuesday as stronger-than-expected technology earnings boosted confidence in corporate profit growth and lifted benchmark-heavy large-cap stocks. Analysts say a strong IT-led start and expectations of decent overall Q2 corporate performance suggest the market is pricing in resilience despite a challenging external environment. Here are 4 stock recommendations for Wednesday
2/5
Buy Balrampur Chini Mills at Rs 720 | Stop loss: Rs 692 | Target: Rs 760
Balrampur Chini Mills has witnessed a strong rebound from the 670-680 support zone and is now attempting to resume its broader uptrend. The stock has formed a series of higher lows over the past few sessions and has recently moved above its short-term moving averages, indicating improving price strength. The recovery is supported by rising momentum, with the RSI climbing above 60, suggesting renewed buying interest and strengthening bullish sentiment. Vaishali Patel, Senior Manager - Research- Technical Department at Jainam
Cyient continues to exhibit a strong bullish structure, with the stock extending its gains after a sharp breakout from the 1,100-1,080 consolidation zone. The stock is consistently trading above its 20-day, 50-day and 100-day moving averages, reflecting sustained buying interest and a firmly established uptrend. Recent price action indicates a breakout from a consolidation range near 1,160, suggesting fresh momentum is building at higher levels. Vaishali Patel, Senior Manager - Research- Technical Department at Jainam
Aditya Infotech demonstrates a strong bullish breakout extension above its key horizontal resistance level of 4,098 on the daily chart, pushing to 4,376.5 (+5.86%). Trading comfortably above its key 20/50/100/200 EMAs with expanding volume and a rising RSI crossing past signal lines, the setup confirms accelerated upside momentum toward 5,000. Kunal Kamble, Sr Technical Research Analyst, at Bonanza Portfolio
eClerx Services demonstrates a decisive descending trendline breakout on the daily chart, pushing to 1,964.50 (+5.43%). Trading comfortably above its key moving average cluster with a sharp volume surge and a bullish RSI crossover surging past signal lines, the setup confirms accelerated upside momentum toward 2,200.
Kunal Kamble, Sr Technical Research Analyst, at Bonanza Portfolio
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.