Rupak De, Senior Technical Analyst at LKP Securities said Nifty started higher following the first comments by President Donald Trump suggesting a possible de-escalation of the Middle East conflict. “The index rallied sharply but encountered resistance around 23,000, where call writers had significant positions. It appears that much will depend on Wednesday’s opening. A negative opening may create bearish sentiment in the market, while a positive opening could indicate positive sentiment for the short term,” De said.
Here are 2 stock recommendations for Wednesday:
Buy Linde India at Rs 7,394 | Upside: 14%
Stop Loss: Rs 6,848
Target: Rs 8,400
The LINDEINDIA has recently confirmed a bullish breakout above a long-term descending trendline, signaling a shift from consolidation to an emerging uptrend. Price is sustaining above key moving averages, with short-term EMAs crossing above medium-term averages, indicating strengthening momentum and trend alignment. The breakout is supported by strong bullish price action and improved volumes, reflecting renewed buying interest. Additionally, the RSI is holding above 60, suggesting positive momentum while still leaving room for further upside before reaching overbought levels. Structurally, the formation of a higher low around the 6,300–6,400 zone reinforces a strong support base, enhancing the bullish outlook.Buy Prime Focus at Rs 309 | Upside: 20%
Stop Loss: Rs 285
Target: Rs 370
Prime Focus stock is exhibiting a strong bullish structure, consistently forming higher highs and higher lows, indicating a sustained uptrend. Recently, it has given a breakout above a consolidation range near the 280 zone, supported by a strong bullish candle and increased volumes, which confirms fresh buying interest. Price is trading well above all key moving averages, with shorter-term EMAs positioned above long-term averages, reinforcing positive trend alignment. The moving averages are also sloping upward, highlighting underlying strength. On the momentum front, the RSI has moved above 65, suggesting strengthening bullish momentum while still not being excessively overbought.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)