Investors are eyeing key domestic triggers as the Reserve Bank of India's upcoming monetary policy decision and GDP data release are set to provide insights into inflation and economic momentum. Analysts have identified two stocks, YES Bank and NBCC, as promising buys for Monday.
YES Bank is currently trading at Rs 23.22, with a recommended stop loss at Rs 22.5 and a target price of Rs 25. The stock has shown strong bullish momentum, breaking above a key resistance level at Rs 22.02 with significant volume expansion, indicating genuine market participation. The stock's price is also trading above both short- and long-term EMAs, with the RSI rising above 60, suggesting accelerating upward strength.
NBCC (India) Limited is another stock to watch, trading at Rs 100.3 with a stop loss of Rs 95 and a target of Rs 110. The stock has exhibited a strong bullish reversal, breaking above multiple short-term EMAs and testing the long-term blue EMA near 101.30. A notable volume surge supports this upward shift, indicating a clear influx of buyers. The RSI crossing above the 60 threshold further confirms the stock's positive momentum.
Virat Jagad, a Senior Technical Research Analyst at Bonanza Portfolio, highlights these stocks' potential for gains based on their technical indicators. However, investors should consider these recommendations as independent views and not as the publication's stance.
The focus on YES Bank and NBCC comes amid broader market movements influenced by upcoming economic data releases. These stocks are positioned to benefit from the anticipated market shifts.
Background
The focus on YES Bank and NBCC comes amid broader market movements influenced by upcoming economic data releases. These stocks are positioned to benefit from the anticipated market shifts.
Looking ahead, investors should keep an eye on the RBI's policy decisions and GDP data, as these will likely impact market dynamics and investment strategies. The performance of YES Bank and NBCC will be closely watched as potential indicators of broader market trends.
