Mankind Pharma vs Sansera Engineering: 2 Technical Picks By Sumeet Bagadia On Wednesday, 25th September

The nation's benchmark indices began the day higher, following global trends on Tuesday. Nifty had a solid start to the day, touched a new all-time high of 26,011.55, and ended the day marginally higher at 25,940. With a 3.08% drop and a final value of 13.36, the volatility index, or INDIA VIX, suggested that market volatility was declining. With a fresh lifetime high of 54,247.70 points, Bank Nifty began the day well and saw some profit-taking. Consequently, the Bank Nifty index ended the day at 53,969, indicating a downward trend. Positive developments globally are also anticipated to support and accelerate growth in Indian markets.

Nifty Outlook

"Technically, the index is oscillating within a rising channel and is trading near the upper trend line resistance of the channel pattern, which is around the range of 25,900-26,000 levels, making them a strong hurdle in the short term. Therefore, on the upside, 26,000 will act as an immediate hurdle for Nifty. If the index sustains above 26,000 it could test the levels of 26,200. On the downside, 25,600 will serve as a strong support for the index," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Bank Nifty Outlook

"Technically, the index is oscillating within a rising channel. The index has also witnessed a fresh rounding bottom pattern breakout. However, in the short-term index might face a hurdle near 54500 levels and if sustains above it then it might test the levels of 55,000-55,500, where the upper trend line resistance of the channel pattern is placed. On the downside, the breakout level near 53,350 and the psychological level of 53,000 will serve as support points," said Hrishikesh Yedve.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended buying two intraday stocks on September 25 in advance of the publication of US Consumer Confidence data.

Mankind Pharma

Buy MANKIND in cash @ 2734.3, stop-loss: Rs 2635, target: Rs 2899

MANKIND has recently experienced a significant breakthrough above the crucial resistance zone ranging from 2424 to 2550 on the daily chart. This breakout has been accompanied by a consolidation of the upward movement, characterized by higher highs and higher lows. The strong bullish sentiment is further validated by a noticeable surge in trading volume.

Key technical indicators, particularly the Relative Strength Index (RSI), highlight the positive momentum in the stock. The RSI not only indicates favourable trends but also aligns with the stock trading above important moving averages, including the 20-day, 50-day, and 100-day Exponential Moving Averages (EMA). This convergence underscores the continued strength in MANKIND price action.

In summary, the decisive breakout, along with encouraging volume and the positive alignment of key technical indicators, suggests a bullish outlook for MANKIND. Traders and investors may interpret this analysis as indicative of potential sustained upward momentum in the stock.

Considering the above analysis, we recommend MANKIND in cash at the current market price (CMP) of 2734.3, setting a target of 2899, and implementing a stop loss at 2635.

Sansera Engineering

Buy SANSERA in cash @ 1724.75, stop-loss: 1666, target: Rs 1818

SANSERA daily chart analysis offers a favourable view for the following week, indicating a steady higher advance. Notably, the stock has produced a notable higher high and higher low pattern, and the company's recent upward swing has effectively violated the neckline, establishing a new week high. This breakthrough indicates the possibility of a significant follow-through upward increase in the stock price.

Adding to the positive momentum, there has been an increase in trading volume, indicating growing market interest. The stock formed a strong momentum candle signifying a potential continuation of the uptrend following and the daily strength indicator RSI (14) is moving upwards and positioned above its reference line indicating a positive bias. Furthermore, SANSERA is currently trading above its crucial 20-day, 50-day, and 100-day Exponential Moving Average (EMA) levels, reinforcing the bullish trend. Given the overall chart pattern, the analysis suggests a favourable long trading opportunity for investors.

Based on the above analysis we recommend buying SANSERA in cash at CMP of 1724.75 for the target of 1818 with a stop loss of 1666.

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.