Market Trading Guide: JM Financial, IDFC First Bank among 5 stock recommendations for Thursday
Analysts recommend five stocks for Thursday—JM Financial, IDFC First Bank, Clean Science, City Union Bank and BEML—citing technical signals and support levels. Cautious sentiment persists amid higher oil prices, elevated bond yields, inflation concerns and uncertainty over global monetary policy.
The relief rally lost steam on Wednesday with profit booking at higher levels, followed by a rebound in oil prices. Elevated global bond yields remain a key overhang, limiting the scope for sustained risk-taking. Analysts say the overall market tone remains cautious as investors monitor the trajectory of crude oil prices, bond yields, inflation expectations, and potential implications for global monetary policy. Here are 5 stock recommendations for Thursday
Stop-loss: Rs 123 Target: Rs 141 JM Financial is shaping up for an upside breakout from its multi-week accumulation range, currently changing hands at a market price of 129 after rebounding crisply off the 124 support base. The 14- period RSI has advanced to 55.10, crossing decisively above its signal line to indicate strengthening bullish momentum and rising accumulation interest. Sachin Gupta, VP, Technical Research at Choice Equity Broking
Stop-loss: Rs 77 Target: Rs 90 IDFC First Bank is demonstrating an initial bounce from its primary trend support, currently quoted at a market price of 81.4 after finding aggressive buying interest near the 79-80 region. The 14-period RSI has curled upward from oversold territory to 40.97, angling toward its signal line to indicate that downward pressure is abating as buyers begin to step back in. Sachin Gupta, VP, Technical Research at Choice Equity Broking
Stop-loss: Rs 757 Target: Rs 868 Clean Science is staging a sharp relief rebound on the daily chart, currently trading at a market price of 794 after aggressively defending support around the 775 zone. The 14-period RSI has hooked up firmly from near-oversold territory to 43.20, starting to converge back toward its signal line to reflect subsiding selling pressure and early bargain hunting. Sachin Gupta, VP, Technical Research at Choice Equity Broking
Stop-loss: Rs 216 Target: Rs 243 Price is trading above both the 50 EMA and 200 EMA, keeping the overall structure positive. The latest candle shows strong buying momentum with a healthy rise in price. Volume has also picked up, supporting the current upward move. The stock is holding well around the 220-225 zone after recent consolidation. Sustained strength above the recent range can keep the positive momentum intact. Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Stop-loss: Rs 1912 Target: Rs 2150 Price is trading comfortably above the 200 EMA, keeping the broader trend positive. The recent pullback has found support near the 50 EMA zone. The latest candle shows a recovery with buying interest returning around Rs 1,990. The stock continues to maintain higher levels after its strong September move. Sustained strength above the Rs 2,000 zone can keep the positive momentum intact. Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
