Investors are expected to focus on key domestic factors in the near term, particularly the upcoming RBI monetary policy decision and GDP data release. These events will provide further insights into the inflation trajectory and overall economic momentum, according to analysts.
YES Bank is recommended as a buy with a current market price (CMP) of Rs 23.22, a stop loss of Rs 22.5, and a target of Rs 25. The stock exhibits strong bullish momentum, having decisively broken above the key horizontal resistance level at Rs 22.02. This breakout is supported by a noticeable volume expansion, confirming genuine market participation. The price is trading above both short- and long-term EMAs, which are fanning out in a bullish alignment, while the RSI rises above 60, signaling accelerating upward strength toward the descending trendline.
NBCC (India) Limited is also recommended as a buy with a CMP of Rs 100.3, a stop loss of Rs 95, and a target of Rs 110. The stock shows a strong bullish reversal as it breaks above multiple short-term EMAs and tests the long-term blue EMA near 101.30. This upward shift is backed by a notable volume surge, indicating a clear influx of buyers at these levels. Meanwhile, the RSI has crossed above the 60 threshold, signaling accelerating positive momentum and confirming a strong structural turnaround from the recent bottom.
Virat Jagad, a Senior Technical Research Analyst at Bonanza Portfolio, highlights the technical indicators supporting these stock picks. However, it's important to note that these recommendations, suggestions, views, and opinions are those of the experts and do not represent the views of the Economic Times.
In recent months, investor sentiment has been heavily influenced by domestic economic indicators and policy decisions. The upcoming RBI monetary policy and GDP data are expected to play a significant role in shaping market trends and investor strategies.
Background
In recent months, investor sentiment has been heavily influenced by domestic economic indicators and policy decisions. The upcoming RBI monetary policy and GDP data are expected to play a significant role in shaping market trends and investor strategies.
Looking ahead, investors should closely monitor the outcomes of the RBI's policy decisions and GDP data release, as these will likely provide crucial insights into the economic landscape and influence market movements in the coming weeks.
