Here’s a breakdown of the stock recommendations from the provided text:
1.HDFC Life Insurance Company Ltd.
Recommendation: Buy
Current Market Price: ₹762.35
Target Price: ₹825
Stop Loss: ₹730
Reasoning:
The stock has undergone a “healthy retracement” and is moving towards its demand zones, which has constructively reset its momentum. There are signs of a potential reversal from these demand zones, supported by a stabilizing price structure and renewed buying interest.
A sustained move above ₹775 could trigger a breakout, leading to a resumption of its upward momentum and potentially revisiting previous highs. Positive long-term structure, early reversal signs, and momentum recovery are also cited.
2. Jindal Steel And power Ltd.
Recommendation: Buy
Current market price: ₹1,000.15
Target Price: ₹1,090
Stop Loss: ₹955
Reasoning:
The stock has shown a “strong technical breakout,” signaling the start of a potential uptrend.
It recently completed an “Inverted Head & Shoulders pattern,” a bullish reversal structure.
The breakout above the neckline resistance at ₹980, supported by rising volumes, confirms a trend reversal with growing bullish momentum.
The stock is trading above key exponential moving averages across different timeframes, reinforcing the upward trend.
Momentum indicators like RSI are in the bullish zone, and MACD is likely showing a positive crossover.
The price is trading on the upper Bollinger Band,indicating trend strength.Disclaimer: The text includes a disclaimer stating that these views are from individual analysts or broking companies and not from Mint.Investors are advised to consult certified experts before making investment decisions.