Following a recent market correction, domestic brokerage firm Master Capital has highlighted several largecap stocks poised for potential growth. The firm's analysis, based on both valuations and technical charts, suggests strong buying opportunities in select companies. Among the recommended stocks are NTPC, Jio Financial Services, Marico, and Apollo Hospitals Enterprise Ltd.
Master Capital provides detailed insights into each stock, including target prices and crucial stop-loss levels, for investors considering positional trades.
NTPC: Strong Uptrend Continues
NTPC Ltd. remains a robust trending stock, maintaining a clear uptrend characterized by higher highs and higher lows. After a significant rally, the stock is currently consolidating, which is seen as a positive indicator of underlying strength. Trading around the Rs 390-405 zone, this consolidation is considered a healthy pause before its next move.
The brokerage recommends a 'buy' on dips, especially for positional trades, as long as the stock holds above Rs 380. A breakout above Rs 410 could propel the stock towards target prices of Rs 430-440, with a suggested stop loss at Rs 384.
Marico: Signs of Strength Emerging
Marico Ltd. is gradually exhibiting renewed strength after an extended consolidation phase. The stock has successfully broken its short-term downtrend and is now forming a series of higher lows, signaling steady accumulation by buyers at lower levels. Currently trading in the Rs 770-780 range, it is approaching a key resistance area near Rs 800.
A sustained move above Rs 800 could trigger fresh upside momentum towards target prices of Rs 830-850. The Rs 740-750 zone acts as strong support. While the structure is improving, it is advised as a 'buy on dips' candidate rather than chasing at current highs. The risk-reward ratio appears favorable for gradual positional upside, with a stop loss at Rs 743.
Apollo Hospitals Enterprise: Bullish Reversal
Apollo Hospitals has demonstrated a strong reversal, breaking out of its previous downtrend to form a bullish structure with consistent higher lows. This indicates renewed buying interest in the stock, which is currently trading near Rs 7,700-7,800.
The stock is approaching a resistance zone around Rs 7,900-8,000. A decisive breakout above this level could lead to a significant upward move towards target prices of Rs 8,100-8,300. The Rs 7,200 zone has now solidified as a strong support level. Any dips are seen as buying opportunities for positional upside, with a stop loss recommended at Rs 7,540.
Jio Financial Services: Early Stage Reversal
Jio Financial Services is in the early stages of a reversal following a prolonged downtrend. The stock has begun to stabilize around the Rs 230-240 zone, suggesting a reduction in selling pressure. Trading near Rs 245-250, it is attempting to build a base, though a strong uptrend confirmation is still pending.
The key resistance lies between Rs 260-270. A breakout above this range could ignite fresh momentum, potentially driven by short covering. The Rs 234 level remains a critical support. This setup carries a relatively higher risk compared to other recommendations, making it more suitable for early entry or bounce trades rather than aggressive positional buying at current levels. Target prices are Rs 266-272, with a stop loss at Rs 234.
Disclaimer: Business Today 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.