Vatsal Bhuva, a Technical Analyst at LKP Securities, has provided 'Buy' recommendations for the shares of Blue Jet Healthcare Ltd and Urban Company Ltd, focusing on short-term trading opportunities for Tuesday's session.
Blue Jet Healthcare: Strong Consolidation Breakout
For Blue Jet Healthcare, Bhuva advises a 'Buy' within the range of Rs 475-470, setting a stop loss at Rs 445 and an upside target of Rs 520.
"The stock has witnessed a strong consolidation breakout backed by significant volume, indicating robust buying interest. It is sustaining above its short-term and mid-term moving averages, reflecting a positive trend structure. Additionally, the stock has reclaimed its 100-day moving average, which further strengthens the bullish outlook. Momentum indicators are also signaling strength, supporting the ongoing uptrend. Overall, this setup suggests continuation of the upside move, with momentum likely to remain positive in the near term," Bhuva stated.
Urban Company: Rounding Pattern Breakout
Regarding Urban Company, the analyst suggests buying on dips towards Rs 148-150, with a stop loss at Rs 142 and a target price of Rs 165.
Bhuva noted, "The stock has witnessed a rounding pattern breakout supported by strong volumes, indicating accumulation and potential trend reversal. It is sustaining above its 10-day moving average, reflecting short-term strength in price action. Traders may consider buying on dips towards Rs 148–150, with a stop loss placed at Rs 142, for an expected upside target of Rs 165 level."
Market Context: Monday's Performance
Indian equity benchmarks concluded Monday's trading session on a positive note, despite paring a substantial portion of their intraday gains due to mixed sectoral trends. The 30-share BSE Sensex index closed up 355.90 points, or 0.46 percent, at 77,269.40. Similarly, the NSE Nifty index advanced 121.75 points, or 0.51 percent, to finish at 24,119.30.
Both indices saw sharp retreats from their day's highs, with the Sensex falling 641.35 points from 77,910.75 and the Nifty slipping 170.9 points from 24,290.20. Buying activity was notable in pharma, healthcare, realty, and metal stocks, which helped support the market. However, weakness in IT, banking, and media sectors limited further upside.
Gains from heavyweights such as Reliance Industries Ltd (RIL), Larsen & Toubro Ltd (L&T), HDFC Bank Ltd, and ICICI Bank contributed to the benchmarks remaining in the green despite the afternoon pullback. Broader markets also displayed resilience, with the Nifty Midcap 100 rising 0.63 percent and the Nifty Smallcap 100 gaining 0.70 percent.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.