Stocks To Buy On Valentine’s Day: Intraday BUY/SELL Calls By Sumeet Bagadia On Friday, 14th Feb

In contrast to the Bank Nifty, which opened flat, saw buying momentum throughout the first half, but afterwards underwent profit booking and ended the day on a negative note at 49,360, the Nifty index on Thursday started the day on a positive note and continued to show buying interest in the first half before experiencing profit booking and ultimately settling on a flat to negative note at 23,031. Despite cooling off from 15.47 levels, the India VIX volatility index ended the day marginally higher by 0.40% at 14.96.

Nifty Outlook Today

"Technically speaking, Nifty on a daily scale has formed a small red candle with long upper shadow, indicating selling pressure at higher levels. The 21-Days Simple Moving Average (DSMA) is placed at 23,270, making the 23,270-23,300 zone a strong hurdle. On the downside, 22,780 will act as a key support level. As long as the index holds 22,780, a buy-on-dips strategy is advisable," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. (A Pantomath Group Company).

Bank Nifty Outlook Today

"Technically, the Bank Nifty on a daily scale has formed a small red candle with long upper shadow, indicating selling pressure at higher levels. On the downside, 48,730 will act as immediate support, while 50,000 remains a key resistance. Traders should closely monitor these levels for potential trading opportunities," commented Hrishikesh Yedve.

Stocks To Buy Today

On Friday, February 14, Valentine's Day, Choice Broking executive director Sumeet Bagadia suggested buying two stocks.

Cholamandalam Investment and Fin Co

Buy CHOLAFIN in Cash @ 1390.8 SL @ 1340 TGT @ 1480

CHOLAFIN is currently trading at 1390.8, on the daily timeframe shows an overall uptrend in the short term, with a notable recovery from recent lows. The price action suggests a potential bullish continuation pattern, as the stock has taken strong support from its key moving averages. The Exponential Moving Averages EMA suggest a positive trend, with the 20-day EMA crossing above the 50-day EMA, further supporting the bullish case. The stock is also trading above the 200-day EMA, signaling a long-term uptrend. If the stock manages to surpass its resistance level of 1400-1420, it could achieve a short-term target of 1480.

On the downside, immediate support is located at 1365. The Relative Strength Index (RSI) is currently at 60.96 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 1340 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, CHOLAFIN presents a promising buying opportunity for those aiming for a 1480 target, provided that appropriate risk management strategies are in place.

Bajaj Finance

Buy BAJFINANCE in Cash @ Rs 8409, stop-loss @ 8100, Target @ 9000

BAJFINANCE is currently trading at 8409 and remains in a strong bullish trend, forming higher highs and higher lows. The stock has sustained its upward momentum following a breakout from previous resistance levels. Recent price action indicates continued strength, with the stock holding above key support zones. After reaching its all-time high, a slight consolidation has occurred, suggesting a potential build-up for the next move. The exponential moving averages (EMAs) confirm the bullish outlook, with the 20-day EMA positioned above the 50-day, 100-day, and 200-day EMAs. This alignment indicates strong upward momentum and robust support at lower levels. If the stock successfully surpasses its recent high, it has the potential to reach a short-term target of 9000.

On the downside, immediate support is located at 8200. The Relative Strength Index (RSI) is currently at 68.41 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 8100 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, BAJFINANCE presents a promising buying opportunity for those aiming for a 674 target, provided that appropriate risk management strategies are in place.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.