Today’s stock market setting includes seven stocks to buy or sell on Friday, April 26, and trades from Nifty 50 to Sensex.
1] ICICI Bank: Purchase at 1123.75, aim for 1160, and halt loss at 1087.
The share price of ICICI Bank has exhibited remarkable tenacity, as seen by its recovery from a critical support level situated around ₹1087, in close proximity to its 20-Day Exponential Moving Average (EMA). With a current price of 1113.75, the stock has an upward trajectory, which suggests underlying strength. Importantly, the stock’s strong position is reinforced by trading above important moving averages.
2] Carborundum Universal: Purchase at $1415, aim for $1499, and halt loss at $1366,.
The share price of Carborundum Universal is now at ₹1414.85. The stock has recently broken the neckline levels of ₹1350 and is climbing fast on the upside with significant volume, following a period of minor declines and sideways consolidation. More upward momentum is anticipated, possibly reaching levels of ₹1499. Substantial support is visible on the downside close to ₹1366.
3] REC: Buy at 451₹, aim for 475₹, and stop loss at 451₹.
The price of REC shares has been steadily rising around the ₹415 zone, and it has experienced a respectable decline after finding support there. With significant upside potential obvious from present levels, the RSI has recovered nicely and is currently in a good position, signalling a buy. We advise purchasing the stock with an initial goal of ₹475 and a stop loss of ₹440.
4] GMR Infra: Purchase at 885, aim for 90, and halt loss at 83.
On the daily chart, GMR Infra share formed a higher low formation pattern, taking support at the ₹78 zone and moving over the crucial 50EMA level of ₹82. This improved bias and rising RSI showed strength, allowing the upward trend to continue. Given the favourable appearance of the chart, we advise purchasing the stock with an initial target price of ₹90 and a stop loss level of ₹83.
5] IRFC: Purchase at 150, aim for 162, and halt loss at 146.
Following the rangebound consolidation phase, the IRFC share price has improved. It has recently broken above the significant 50EMA level of ₹141.50, which has strengthened the bias and increased the likelihood of positive performance in the days ahead. The RSI is rising, and since a trend reversal indicates a buy, there’s a chance it will continue its upward trajectory even further. We advise purchasing the stock with a stop loss around ₹146 and an initial aim of 162.
7] UPL: Purchase between 505.50 and ₹506.65, aim for ₹535; halt loss at ₹490.
In the UPL, a breakout of the Cup and Handle pattern has been observed. A consistent rise in traffic suggests that buyers are considering purchasing the security. The asset is in an upward trend since the price is trading above the 50 EMA. Following a cooling off period, the RSI began to trade in a northern direction, confirming the pattern. While ADX trading above DI-indicates strength in the move, DI+ trading above DI-indicates positive strength.