Market Pain Point: Giving some TOP TECHNICAL IDEAS for 2025, JM Financial Services Director and Head of Research Rahul Sharma said that the support of 23700 in Nifty is very important for this week. If Nifty comes near 23750-23800 then keep a strategy of buying on dips. The overall trend of the market is to buy on decline. The target for this week in Nifty will be 24200. If 24200 is also crossed then Nifty can go upwards till 24500. Bank Nifty could be a pain point for the market. Shorts are available here. If the level of 50500 is broken in Bank Nifty, then targets of 50000 and below can also be seen. There is a bearish setup inside Bank Nifty. There will be a rise in Bank Nifty only when it crosses the level of 51200.
Apart from this, all the events that are taking place in the coming weeks like the possibility of rate cut, the coronation of Trump in America as well as the quarterly results, all these will decide the direction of the market. But the panic low which has formed around 23260 in Nifty has not been broken in the last few weeks. From here, the market should gradually improve and Nifty may see figures of up to 25000 till the budget.
Talking about stocks, Rahul said that Bajaj Finance The underperformance of the last 3 years is a sideways price action. Now breakout can be seen in this stock. Bajaj Finance may see a rise of 20 to 25 percent from these levels. If you have a 6-12 month perspective then this stock can be included in the portfolio.
Rahul in insurance SBI Life I’m liking it. He says that the risk reward of the stock looks good around Rs 1400-1450. The stock is expected to rise well in the next 6-12 months. SBI Life can be purchased for returns up to 30 percent.
PSU Bank stocks: Sharp decline in public sector banks, Nifty PSU Bank index fell by 4%, know the reason
Rahul from FMC Space britannia I’m liking it. His advice is to buy this stock in two installments. Buy the first installment at current levels. Whereas it would be advisable to buy the next installment around Rs 4400. Other than this Gravita I also have Rahul’s buying advice. A pole and flag pattern setup is visible in this stock. This is such a setup in which the biggest rise in the stock can be seen. From here you can buy Gravita for 40 percent gain. Rahul further said that in capital goods he L&T The setup looks quite good. This stock may also rise by 20-25 percent in 2025. Rahul is of the opinion that L&T may see a level of Rs 4500 in the coming 6 to 12 months.
Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for this. Money Control advises users to seek the advice of a certified expert before taking any investment decision.