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BHEL, CDSL and Divi's Labs flagged for 1-2 week upside
The Nifty 50 was up about 0.7% in Friday morning trade, with support seen at 24,050 and a possible downside toward 23,800 if that level breaks.
Religare Broking’s Ajit Mishra has highlighted three Indian stocks as short term buy candidates over the next 1 to 2 weeks, pointing to BHEL, CDSL, and Divi’s Laboratories for a favorable technical setup, according to LiveMint Markets. In the broader market, Mishra said the Nifty 50 was up roughly 0.7% in Friday morning trade, trading near 24,250 after a flat close the prior session. He cited intensifying US Iran conflict, higher crude oil prices, and inflation concerns as key overhangs, while also arguing that healthy Q1 earnings are helping limit downside risk. On index levels, Mishra noted the Nifty is holding above a key support area around 24,050, where a 20 day exponential moving average and a rising trendline overlap. He added that a break below 24,050 could pull the index toward 23,800, while a decisive move above 24,200 to 24,300 may open the way toward 24,500 to 24,600. For the individual names, Mishra said BHEL has resumed its uptrend after consolidation above its 50 day EMA, with a bullish flag breakout supported by price volume action and a weekly RSI crossover. He described CDSL’s symmetrical triangle as constructive, with the potential for renewed buying if it breaks above the pattern’s upper trendline, and said Divi’s Laboratories has posted a fresh breakout after nearly a year of consolidation and reclaiming its record high amid continued interest in the pharmaceutical and healthcare sector.
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