Market Trading Guide: BEML among 2 stock recommendations for Friday

Written by

, ETMarkets.com|

Nov 07, 2024, 09:00:26 PM IST

1/3

Stock Ideas

Domestic market ended with deeper cuts while eroding Wednesday’s gain over the Trump trade. Disappointing Q2 and persistent selling by FIIs continue to dampen market sentiment.

“Investors are now shifting their attention to the upcoming Fed policy meeting and domestic public outlay, which are anticipated to offer more insight into the future trade path,” said Vinod Nair, Head of Research, Geojit Financial Services.

Here are 2 stock recommendations for Friday

Shutterstock.com

2/3

Buy BEML at Rs 4266.8 | Target Price: Rs 4500 | Stop Loss: Rs 4100

BEML has recently broken out of a rounding bottom pattern on the daily chart, indicating a potential uptrend. This bullish formation points to a likely price increase, reinforced by a significant surge in volume during the last session, which signals growing buying interest. Additionally, the 21-day EMA crossing above the 50-day EMA provides a bullish crossover, further validating the upward momentum.
Virat Jagad, Technical Analyst at Bonanza

ANI

3/3

Buy Jyoti CNC Automation at Rs 1151 | Target Price: 1250 | Stop Loss: Rs 1100

The daily chart of Jyoti CNC Automation Ltd displays a confirmed breakout from a falling wedge pattern, a strong bullish indicator. This breakout is accompanied by a significant rise in trading volume, highlighting robust buying interest and supporting positive market sentiment.
Virat Jagad, Technical Analyst at Bonanza
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

IANS

Read more on

This article was originally published by Indiatimes.com. Read the original article here.