Indian equities rallied on Thursday as global tech stocks weakened. Analysts now recommend Bajaj Holdings and Adani Power for Friday trading. Experts said, "Bajaj Holdings is showing a strong bullish recovery." Investors should watch Q2 earnings and foreign flows closely as market conditions remain key for future stock price movements.
Synopsis
Indian equities rallied as global technology stocks weakened amid AI valuation concerns and US inflation worries. Analysts recommend Bajaj Holdings and Adani Power for Friday, citing improving technical momentum, key support levels and potential upside, subject to market conditions.
Indian equities rallied sharply on Thursday as concerns over stretched AI valuations and higher US inflation triggered a sell-off across tech-heavy global markets, improving India’s relative appeal and encouraging rotation toward domestic large-cap technology, private financials and defensive heavyweights.
Analysts say near-term sustainability will depend on Q2 earnings delivering on revenue and margins, broader market participation and evidence of returning foreign flows, while durable stability in oil and the currency remains crucial amid geopolitical and global inflation risks.
Here are 2 stock recommendations for Friday
Buy Bajaj Holdings at Rs 11,220-11,225 | Stop loss: Rs 10,770 | Target: Rs 12,100
Bajaj Holdings is showing a strong bullish recovery, with the latest session closing at ₹11,225, up 4.19%, supported by a strong bullish candle and improved buying momentum. The stock has moved above its key moving averages, indicating a potential improvement in the short-term trend. The RSI has rebounded sharply toward 57, crossing above the 50 mark and its signal line, suggesting strengthening bullish momentum without entering the overbought zone. Sustaining above ₹11,100 could support further upside toward recent resistance levels around Rs 11,900–12,100.
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Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio Ltd
Buy Adani Power at Rs 196-197 | Stop loss: Rs 188.5 | Target: Rs 212
Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio Ltd
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
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