Renowned technical analyst Nagaraj Shetti of HDFC Securities has identified two compelling buy opportunities in the current market landscape that could deliver substantial returns to investors. His latest analysis points toward strong bullish momentum in both FMCG and infrastructure sectors.
Dabur India: Brewing a Bullish Breakout
According to Shetti's technical assessment, Dabur India Limited is showing promising signs of an upward trajectory. The stock has been consolidating within a range, but recent price action suggests an impending breakout.
Key technical observations for Dabur:
- Strong support established around the ₹550-555 levels
- Consolidation pattern indicating accumulation phase
- Potential upside target of ₹615-620 in the near term
- Stop loss recommended at ₹545 for risk management
Rail Vikas Nigam: On Track for Gains
The infrastructure sector continues to show strength, and RVNL stands out as a particularly attractive opportunity. Shetti's analysis reveals a robust technical setup that could signal significant upward movement.
Technical highlights for RVNL:
- Current levels around ₹275 presenting an attractive entry point
- Clear bullish momentum building in the charts
- Immediate price target set at ₹305-310
- Conservative stop loss placed at ₹265 to protect capital
Market Context and Broader Outlook
Shetti's recommendations come at a time when the Indian stock market is navigating mixed global cues and domestic economic indicators. His technical analysis suggests selective opportunities exist despite broader market uncertainties.
"The current market environment requires careful stock selection, and both Dabur and RVNL present technically sound setups with favorable risk-reward ratios," the analysis indicates.
Investment Strategy for Traders
For investors considering these recommendations, Shetti emphasizes the importance of disciplined trading:
- Enter positions only at suggested levels or on minor dips
- Maintain strict stop losses to manage downside risk
- Book partial profits as stocks approach target levels
- Monitor overall market sentiment for exit timing
These recommendations are based purely on technical analysis and chart patterns, making them particularly relevant for short to medium-term traders looking for momentum plays in the current market scenario.
