June 18, Indian stock markets kept climbing,fifth straight day of gains. BSE Sensex jumped 254 points,or 0.33%, closing at 77,410. Meanwhile,NSE Nifty 50 added 82 points,or 0.34%,ending at 24,168. Crude oil prices fell after U.S.-Iran peace deal, boosting the rally .
Market expert Raja Venkatraman,co-founder of NeoTrader,flagged three stocks for June 19,each with unique technical setups. First up is Adani Green Energy Ltd (AGEL),priced at ₹1,506.80. Venkatraman notes its steady rise over past three months, recently consolidating. With Relative Strength Index (RSI) improving, he suggests buying above ₹1,510, aiming for ₹1,650 in two months.
Next,State Bank of India (SBIN), trading at ₹1,042.70. As India's biggest public sector bank,SBIN bounced back in April, though profit booking hit . Venkatraman highlights its price swings, aligning with BankNifty's movements. Buy above ₹1,045, target ₹1,150,but watch for asset quality risks .
Finally,Bharat Electronics Ltd (BEL),at ₹428.60. Major defense electronics player,BEL recovered post-March dip. Stock's momentum strong after defense production records. Venkatraman suggests buying above ₹430, targeting ₹475, but notes high customer concentration and project delays risks.
Indian market showed positive signals June 18, helped by global cues,lower crude prices. Broader market echoed this,with Nifty Midcap 100 and Nifty Smallcap 100 both up 0.4%. Over 150 BSE stocks hit new 52-week highs, reflecting strong sentiment .
Yet,investors cautious due to U.S. Fed's hawkish tone. Technicals hint at possible bullish shift,Nifty breaking key resistance. If trend holds,more gains possible,with next resistance at 24,500.
As market weathers these shifts,traders should watch closely for dip-buying chances. Venkatraman’s picks offer focused strategy for engaging market in days ahead…
