Top Stock Recommendations for July 1, 2026
Mehul Kothari, DVP - Technical Research at Anand Rathi Shares, has identified several stocks that are worth considering for investment on July 1, 2026. The recommendations include NACL Industries, Info Edge (Naukri), and Minda Corporation. These stocks have shown promising technical setups and could offer good returns if the market conditions remain favorable.
NACL Industries: Inverse Head & Shoulders Breakout with Strong Accumulation
Buy Range: Rs 204–Rs 200
Stop Loss: Rs 185
Target: Rs 240
NACL Industries has confirmed a breakout from a well-defined Inverse Head & Shoulders pattern on the daily chart. This pattern is often seen as a strong signal of a potential trend reversal after a long period of consolidation. The breakout is supported by strong trading volumes, which indicates that there is sustained buying interest in the stock.
The broader technical structure of the stock remains positive, with momentum strengthening across key indicators. The On-Balance Volume (OBV) continues to trend higher, reflecting steady accumulation. Additionally, the Relative Strength Index (RSI) remains above 60, and the Moving Average Convergence Divergence (MACD) has generated a bullish crossover. A sustained hold above the Rs 200 zone could trigger the next leg of the upward movement towards the target of Rs 240.
Info Edge (Naukri): Reversal Setup Near Major Support
Buy Range: Rs 990–Rs 970
Stop Loss: Rs 875
Target: Rs 1,130
Info Edge is currently trading near a strong confluence support zone between Rs 970 and Rs 990. This level coincides with the 61.8% Fibonacci retracement of the previous major uptrend, making it a critical level for the stock. A completed bearish AB=CD pattern also adds to the significance of this support zone.
The stock is showing signs of base formation after a sharp correction, which suggests that selling pressure is gradually easing. Momentum indicators are beginning to improve, with the RSI recovering from lower levels and the MACD generating a bullish crossover. A sustained rebound from the current support zone could attract fresh buying interest and pave the way for an advance towards the target of Rs 1,130.
Minda Corporation: Multi-Month Consolidation Breakout
Buy Range: Rs 675–Rs 655
Stop Loss: Rs 595
Target: Rs 780
Minda Corporation has witnessed a decisive breakout from its 19-month consolidation range, signaling the beginning of a fresh medium-term uptrend. This breakout is backed by improving trading volumes, and the stock continues to trade comfortably above its long-term moving average, reinforcing the positive trend.
Momentum remains firmly in favor of the bulls, with the RSI holding above 60 across multiple timeframes. A bullish MACD crossover and rising OBV indicate sustained buying interest and accumulation. As long as the stock holds above the breakout zone, it has the potential to move towards the target of Rs 780 over the coming weeks.
Stock Market Round-Up of Tuesday’s Session
On Tuesday, both the BSE Sensex and Nifty50 ended lower, as selling pressure in information technology, oil & gas, and select banking stocks outweighed early gains. Investors remained cautious due to uncertainty surrounding the next round of US-Iran talks in Doha.
The 30-share BSE Sensex closed 249.70 points, or 0.33%, lower at 76,478.67 after giving up its initial gains. During the session, the index dropped as much as 398.98 points, or 0.51%, to touch an intraday low of 76,329.39. The NSE Nifty 50 also ended in the red, declining 80.50 points, or 0.34%, to settle at 23,865.75.
Analysts attributed the subdued sentiment to the delayed arrival and slow progress of the southwest monsoon, fresh selling by foreign investors, and weakness in heavyweight IT stocks. Among the biggest losers on the Sensex were Infosys, Tata Consultancy Services, HCL Technologies, Tech Mahindra, ITC, and Hindustan Unilever. On the other hand, Maruti, Titan, Bajaj Finance, and Eternal finished among the top gainers.
No comments:
Post a Comment