ICICI Bank, DLF among top 3 stocks to buy next week: Rupak De, Senior Technical Analyst at LKP Securities
Even as global geopolitical worries, rising bond yields, soaring crude oil rates and fading hopes of rate cut by central banks are keeping Sensex and Nifty under pressure, there are enough stock-specific opportunities in the market.
Rupak De, Senior Technical Analyst at LKP Securitieslists out three top picks for the week — ICICI Bank, Samvardhana Motherson and DLF.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitEdited excerpts from a chat:
Nifty ended the week 372 points lower amid geopolitical tensions and rising bond yields but do you think the buying seen during the second-half of Friday's session is a positive indicator for bulls?
The week began with the Nifty facing selling pressure amid concerns about potential delays in rate cuts by the Fed, compounded by tensions between Israel and Iran. This led to a dip in the market that persisted through the first half of Friday. However, sellers were observed covering their shorts in the latter half of the last trading day of the week. While the week concluded with a decrease, buying around the key moving average hints at a positive outlook.
On the daily chart, a piercing line pattern has formed, often indicating a bullish reversal following a correction. Additionally, the indicator has surpassed the 55EMA, a short-term moving average. A close above this moving
