Vishnu Kant Upadhyay, AVP of Research at Master Capital Services, has provided a detailed outlook on several prominent Indian stocks, including Indian Renewable Energy Development Agency Ltd (IREDA), Adani Energy Solutions Ltd, Ola Electric Mobility Ltd, Crisil Ltd, and Supreme Petrochem Ltd. His analysis, shared during an interaction with Business Today Television (BTTV), also included a short-term forecast for the benchmark Nifty50.
Nifty50 and Preferred Picks
Upadhyay noted that the Nifty50 is currently experiencing selling pressure. He anticipates the index will trade within the 23,250-23,450 range in the short term. Among the stocks discussed, Crisil and Supreme Petrochem emerged as his top preferred investment choices.
Individual Stock Analysis
IREDA
The expert views IREDA as being in a bearish phase with a weak overall structure. He does not foresee any reversal unless the stock reclaims the Rs 120 level, at which point he suggests considering an exit.
Adani Energy Solutions
For Adani Energy Solutions, Upadhyay advises investors to remain invested as long as the stock trades above Rs 1,320. He has set target prices between Rs 1,634 and Rs 1,700 for the company.
Ola Electric
From a technical perspective, existing Ola Electric investors can hold their positions if the stock maintains above Rs 34. Fresh investments are recommended only if the counter sustains above Rs 41. Should it trade above Rs 41, targets of Rs 60-62 are expected. On the downside, Rs 34 is identified as immediate support.
Crisil
Upadhyay suggests staying invested in Crisil with a stop loss set at Rs 4,480. He projects upside targets for the stock in the range of Rs 5,100-5,200.
Supreme Petrochem
For Supreme Petrochem, the expert anticipates an upside target of Rs 996. He recommends a stop loss at Rs 788 to manage potential risks.
Disclaimer: This information is provided for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.