Market trading guide: Ashok Leyland among 3 stock recommendations for Monday
Indian equities extended gains for the fourth consecutive day on Friday, with Nifty ending higher by 86 points at 25,635 amid continued market momentum and strong FII inflows. US President Trump hinted at significant progress in negotiations with India for a long-awaited bilateral trade agreement between the two countries.
Here are 3 stock recommendations for Monday
Agencies
2/4
After four weeks of consolidation, the stock witnessed strong positive traction this week, gaining over 6%. The recent consolidation, when viewed in context with the rally from the April swing low, forms a classic Flag and Pole pattern — a strong continuation setup. This suggests that the uptrend is likely to resume in the near term.
Rajesh Bhosale, Equity Technical Analyst, Angel One
Agencies
3/4
For the past seven months, prices have consistently faced resistance around the 2800 mark. However, this week, the stock decisively broke above this key hurdle, confirming a breakout from an Inverse Head and Shoulders pattern. The breakout is backed by a noticeable surge in volume, adding strength to the signal.
Rajesh Bhosale, Equity Technical Analyst, Angel One
ETMarkets.com
4/4
The stock has delivered a long-term breakout by surpassing its 2021 high, marking a significant shift in structure. In the short term as well, the trend remains strong, with prices consistently forming higher highs and higher lows. Notably, the volume during upmoves has been significantly higher compared to down moves, indicating strong participation.
Rajesh Bhosale, Equity Technical Analyst, Angel One
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
ETMarkets.com
