Market Trading Guide: Jayaswal Neco Industries among 2 stock recommendations for Monday
Analysts recommend Jayaswal Neco Industries and Alkyl Amines for Friday, citing bullish breakouts, strong trading volumes and improving RSI momentum. Jayaswal Neco has a target of Rs 110, while Alkyl Amines has a target of Rs 2,250, with both stocks trading above key moving averages.
Market trading guide reveals Jayaswal Neco Industries and Alkyl Amines as two stocks of interest for Monday. Analysts highlight global bond yields and India's 10-year yield as key factors influencing the market. The RBI's hawkish stance has pushed up yields, causing concern amid surging crude prices and inflation fears. Despite this, domestic resilience is evident, as shown by recent services PMI data.
Jayaswal Neco Industries is recommended for a buy, with a buying zone ranging from Rs 100 to 101 and a stop-loss at Rs 95. The target price is set at Rs 110, following a decisive breakout above horizontal resistance at Rs 96 and a surge in volume. Technical indicators, including EMAs and RSI, support a bullish momentum towards the target.
Alkyl Amines is also recommended for a buy, with a buying zone of Rs 2,050 to 2,060 and a stop-loss at Rs 1,975. The target is set at Rs 2,250, following a clean breakout from consolidation above the Rs 2,000 resistance level. Strong trading volumes and key moving averages (20, 50, 100, and 200 EMA) being surpassed signal an uptrend, with RSI nearing 66, further confirming the positive momentum.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
