Day Trading Guide: HUL among 4 stock recommendations for Tuesday – Stock Ideas – Economic Times

Updated: 20 Jun 2022, 09:15 PM IST

1/5

Stock Ideas

Benchmark indices finally ended a six-day losing run and settled in the green after a highly volatile session on Monday. The BSE benchmark Sensex gained 237.42 points to close at 51,597.84, while Nifty50 reclaimed the 15,350 mark.

“Prevailing inflationary pressure and concerns over policy tightening limited the upside. Among the sectors, metals were the top laggard due to a sharp fall in commodity prices along with a fall in global and domestic demand,” said Vinod Nair, Head of Research at Geojit Financial Services.

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HUL

Buy: Rs 2,180
Targets: Rs 2,240/2,250
Stop Loss: 2,120

On the daily chart the stock has formed a strong reversal candle on the daily chart with volumes indicating a short term bottom. The RSI indicator formed a positive crossover on the daily chart, confirming the internal strength. The stock on the upside is likely to test its 200-DMA, placed around 2,250 level.

Analyst: Kunal Shah, LKP Securities

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Infosys

3/5

Infosys

Buy: 1,414
Targets: Rs 1,450/1,460
Stop Loss: Rs 1,370

After a recent correction, the stock is witnessing buying action from the lower levels. The momentum oscillators are in the oversold territory, and a bounce is expected from the current levels.

Analyst: Kunal Shah, LKP Securities

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PI Industries

4/5

PI Industries

Sell at current levels
Target: Rs 2,333
Stop Loss: Rs 2,839

Establishing short positions at CMP and on strength between 2,700-2,750 zones should be the preferred trading strategy, targeting the 2333 zone and then aggressive targets seen at 1,950-2,000 zones. Stop Loss above 2839. Holding Period: 1-2 Months.

Analyst: Ravi Gangan, Mehta Equities

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Tata Power

5/5

Tata Power

Buy at current levels
Target: Rs 220
Stop Loss: 163

Establishing Long positions at CMP and accumulating till Rs 185 zone should be the preferred trading strategy, targeting 220 zone and then aggressive targets seen at 240-261 zone. Stop Loss above 163. Holding Period: 1-3 Months.

Analyst: Ravi Gangan, Mehta Equities

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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