Top stock market recommendations: In accordance with Aakash Ok Hindocha, Deputy Vice President – WM Analysis, Nuvama Skilled Shoppers Group, Ambuja Cements, Jubilant FoodWorks and SBI Playing cards and Cost Companies are the highest purchase requires in the present day.Right here’s his view on Nifty, Financial institution Nifty and the highest inventory picks for April 24, 2025:
Index View: Nifty
After finishing its 24k goal and reclaiming above the 200 DMA, that is the third consecutive day whereby the index has closed above the identical after a ten% flash rally. Given the geopolitical developments and a stretched rally trying drained on charts, we shift our stance to sideways from purchase on dip with a brief time period help seen at 23900 beneath which weakening momentum may decide up. Regardless of a robust handover from the worldwide entrance this morning, charts don’t warrant an instantaneous upside after a flash rally seen up to now 10 buying and selling days.
Financial institution Nifty
Financial institution Nifty continued to steer the cost amongst the broadly tracked indices with staging a 1800 odd level rally for this week at yesterday’s excessive. A further 2000 factors goal had opened up on charts after its robust closing on Thursday. Yesterday was the primary occasion because the panic lows of seventh April that Financial institution Nifty underperformed Nifty marking an finish to its higher hand on this leg. Any closing beneath 55240 is prone to drag the index on a unfavorable momentum from right here on.We will additional the case after Financial institution Nifty’s response close to the 56200 ranges, because it seems to be extraordinarily overbought day by day and hourly charts.
AMBUJACEM (BUY):
LCP: 574.35
Cease Loss: 560
Goal: 606
Ambuja Cements stock has discovered robust help from its 5 12 months trendline earlier this month and that is its sixth contact base on this trendline up to now 5 years , making it all of the extra stronger. Within the brief time period the 200 DMA has additionally been reclaimed together with the index as this helps in establishing its brief time period pattern northwards.
JUBLFOOD (BUY):
LCP: 713.45
Cease Loss: 685
Goal: 765
QSR shares had been sliding because the begin of this calendar 12 months. Marking an finish to the slide, Jubilant FoodWorks has given a breakout of a 3 month lengthy correction whereas making a better backside formation all by the previous 4 weeks. A fast 6-8% upside follows by this breakout on the inventory.
SBICARD (BUY):
LCP: 915.90
Cease Loss: 882
Goal: 1005
SBI Playing cards and Cost Companies inventory has closed at a recent 22 month excessive with repeated decrease excessive formation suggesting accumulation on each dips being noticed. The scrip has held its neck above its 200 DMA in addition to 200 WMA for the previous 8-10 weeks now suggesting that its brief time period in addition to medium time period pattern has now been established northwards and dips are prone to get purchased into.
Disclaimer: The opinions, analyses and proposals expressed herein are these of brokerage and don’t replicate the views of The Instances of India. All the time seek the advice of with a professional funding advisor or monetary planner earlier than making any funding selections.