Trade Call: 2 Stock Picks By Sumeet Bagadia For Monday, 12th Feb

Amid muted global cues benchmark indices traded flat at close on Friday as the BSE Sensex rose 167 pts or 0.23% to 71,595, and the NSE Nifty surged 64 pts or 0.3% to settle at 21,782. The top 5 gainers on the Nifty pack were Grasim Industries, SBI, Apollo Hospitals Enterprise, Sun Pharmaceutical Industries and ICICI Bank whereas the top 5 losers were M&M, Bharti Airtel, NTPC, ONGC, and Tata Steel.

The bank and pharmaceutical sectors performed the best, while the metal and oil and gas sectors performed the worst, the sectoral front concluded on a mixed note. Next week's inflation data will be of the utmost significance to keep an eye on as it is likely to influence the mood of the market amid key macro data that will be released and the last portion of Q3 results.

Nifty Outlook

Rupak De, Senior Technical Analyst, LKP Securities said, "Nifty started flat and remained sideways during the trading session. It found support at the 20DMA for the second day in a row. The trend could weaken if it decisively drops below 21,690. A decisive fall below 21690 may trigger a correction towards 21,500. On the contrary, if it moves above 21,800, we might observe a recovery in the near term."

Bank Nifty Outlook

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, "The Bank Nifty bulls exhibited strength as they successfully defended the crucial support level of 45000, establishing it as a critical support zone. The index is currently in a "buy on dip" mode, and as long as the mentioned support holds on a closing basis, the bullish sentiment remains intact. Looking ahead, the immediate resistance on the upside is situated at 46000, and a decisive break above this level is anticipated to trigger further short-covering moves in the market."

Stocks To Buy On Monday

Sumeet Bagadia, Executive Director of Choice Broking, recommended buying Siemens and Jubilant FoodWorks shares on Monday, February 12, here's why.

Siemens

Buy SIEMENS in cash @ Rs 4275.80, stop-loss: Rs 4160, target: Rs 4470

A recent market analysis has highlighted an intriguing opportunity for investors: SIEMENS. With its current cash price standing at Rs 4275.80. The recommendation comes with a suggested stop-loss (SL) set at Rs 4160 and a target price (TGT) of Rs 4470, all while considering the Relative Strength Index (RSI) at a promising 62.

The rationale behind this recommendation is rooted in meticulous strategic analysis. The entry price of Rs 4275.80 is carefully aligned with prevailing market conditions, signalling an anticipated upward trajectory for SIEMENS. Moreover, the designated stop-loss at Rs 4160 acts as a safeguard against potential downturns, prioritizing prudent risk management for investors.

Looking ahead, the target price of Rs 4470 paints a picture of optimism for SIEMENS, indicating the potential for notable gains in the short term. This projection is underpinned by both technical analysis and the bullish sentiment suggested by the RSI value of 62, further bolstering the case for investment.

In summary, the advice to buy SIEMENS at Rs 4275.80, with a stop-loss at Rs 4160 and a target of Rs 4470, represents a carefully crafted strategy offering investors a clear path for entry, risk mitigation, and target attainment. In a market characterized by dynamism, staying attuned to such opportunities remains paramount for investors seeking to optimize their returns.

Jubilant FoodWorks

Buy JUBLFOOD in cash @ Rs 482.05, stop-loss: Rs 464, target: Rs 507

In a recent market update, investors are advised to consider purchasing JUBLFOOD in cash at Rs 482.05, with a suggested stop-loss (SL) set at Rs 464 and a target (TGT) price of Rs 507, given the Relative Strength Index (RSI) stands at 32.

This recommendation is supported by strategic analysis indicating a favourable buying opportunity for JUBLFOOD. The specified entry price of Rs 482.05 corresponds to the current market conditions and is aligned with the projected upward movement for the stock. Additionally, the provided stop-loss at Rs 464 serves as a protective measure against potential downside risks, ensuring prudent risk management for investors.

The target price of Rs 507 reflects an optimistic outlook for JUBLFOOD, indicating the potential for significant gains in the short term. This target is based on technical analysis and market conditions, with the RSI value of 32 suggesting the stock is currently oversold, potentially indicating a favourable entry point for investors.

In conclusion, the recommendation to buy JUBLFOOD at Rs 482.05 with a stop-loss at Rs 464 and a target of Rs 507, considering the RSI value of 32, offers investors a well-defined strategy for entry, risk management, and target achievement. As investors navigate the dynamic landscape of the equity market, staying informed about such opportunities becomes essential for maximizing potential returns.

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.