Market Trading Guide: Buy India Cements and this smallcap multibagger on Friday for up to 20% potential upside

Nifty fell for the fourth session on Thursday amid selling pressure prominently in metals, IT, pharma and PSU banks. The Nifty has slipped below its rising trendline, clearly indicating a sudden increase in bearish bets.

Commenting on the current trends, analyst Rupak De, Senior Technical Analyst at LKP Securities, said that Nifty has slipped below the psychological support of 26,000 and has closed below the 50 EMA for the first time in three months, signifying a bearish shift in the trend. “A rising India VIX is also pointing to increased panic among market participants. Overall, the setup looks uncomfortable for the bulls. Selling pressure is likely to persist in the near term unless the Nifty moves back above 26,000. On the downside, the index might fall down towards 25,700 and 25,550,” De said.

Here are 2 stock recommendations for Friday:

Buy IFB Agro at Rs 1,753.20 | Upside: 20%

Stop Loss: Rs 1,600

Target: Rs 2,100

IFB Agro Industries has delivered a decisive breakout above the key resistance zone near Rs 1,600, supported by strong bullish momentum and rising volumes, indicating fresh institutional participation. The stock is trading well above its short- and long-term moving averages, confirming a strong uptrend structure. The 20 EMA and 50 EMA are sloping upward, providing immediate support on minor pullbacks. RSI is positioned near 70, reflecting strong momentum without extreme overbought conditions. The breakout after a consolidation phase suggests trend continuation.(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

Buy India Cements at Rs 476.20 | Upside: 10%

Stop Loss: Rs 449

Target: Rs 523

The India Cements stock has confirmed a bullish continuation by breaking above the rising trendline resistance near Rs 460, supported by strong price action and improved volumes. The stock is firmly trading above its 20, 50, and 200-day moving averages, indicating a well-established uptrend across timeframes. The short-term moving averages are stacked positively, suggesting sustained momentum. RSI is above 70, reflecting strong buying strength and trend dominance rather than exhaustion. The higher-high, higher-low structure remains intact, supporting further upside.

(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)