Adani Ports, HDFC Bank, Cochin Shipyard | Trading strategies for these buzzing stocks | Stock Market |

 

"Adani Ports has recovered from its 50-EMA of Rs 1,235 level. It has moved past the previous peak zone of Rs 1,356 level to indicate a breakout, said an analyst."

Domestic stock indices kicked-off FY25 on a strong note. The 30-share pack BSE Sensex rose 363.20 points, or 0.49 per cent to settle at 74,014.55. The NSE Nifty50 gained 135.10 points, or 0.61 per cent, to end at 22,462.

A few stocks namely Adani Ports & Special Economic Zone Ltd (Adani Ports), HDFC Bank Ltd and Cochin Shipyard Ltd are likely to remain under the spotlight of traders for the session today. Here is what Shiju Koothupalakkal, Technical Research Analyst at

 Prabhudas Lilladher has to say on these stocks ahead of Tuesday's trading session:

Cochin Shipyard | Buy | Target Price: Rs 1,020-1,115 | Stop Loss: Rs 840
Cochin Shipyard has formed a big bullish candle formation on the daily chart after a short consolidation phase to breach above the previous peak of Rs 945. It hit an all-time high of Rs 976 level. The positive bias has strengthened and with RSI also rising and indicated a trend reversal to signal a ‘buy’ for next targets of Rs 1,020 and Rs 1,115 levels, respectively, in the coming days. The major support zone would be near the significant 50-EMA level of Rs 840.

HDFC Bank | Buy | Target Price: Rs 1,520 | Stop Loss: Rs 1,420
After taking support near the Rs 1,360 zone, HDFC Bank has witnessed a gradual rise. The stock has moved above its 50-EMA level of Rs 1,465, improving the bias. The RSI is well placed and on the rise, indicating strength. The stock can carry on with the positive move ahead. The near-term target is expected at the 100-period moving average of Rs 1,520 level, with near-term support being maintained near Rs 1,420 zone.

Adani Ports & Special Economic Zone | Buy | Target Price: Rs 1,490-1,570 | Stop Loss: Rs 1,255
Adani Ports, after forming the higher lows near Rs 1,190 zone, has recovered from its 50-EMA zone of Rs 1,235 level. The stock has moved past the previous peak zone of Rs 1,356 level to indicate a breakout. The RSI has indicated a decent pullback confirming a trend reversal to signal a ‘Buy’. With the trend remaining strong, the stock can see further rise for fresh targets of Rs 1,490 and Rs 1,570 levels in the coming days. The near-term support will be near the 50-EMA level of Rs 1,255.

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