Hot Stock Tips: Rajesh Palviya Recommends SBI Life, Orient Cement, and TCS for Big Gains Today

The Indian stock market saw the Sensex and Nifty 50 drop from their opening-day highs on Friday. Despite Infosys posting strong quarterly results and raising its revenue forecast, widespread profit booking overshadowed the gains.

As of 9:51 IST:

• Sensex: Down 0.21% to 81,174.93 points
• Nifty 50: Down 0.35% to 24,714.15 points

Market Insights:

Dr. V K Vijayakumar from Geojit Financial Services notes that reasonably priced large-cap stocks are performing well, while overvalued sectors like railways and defense are declining. This trend supports a continued rise in the market without overheating.

Rajesh Palviya’s Stock Picks:

Rajesh Palviya, SVP of Technical and Derivatives Research at Axis Securities, recommends three stocks for Friday:

1. SBI Life Insurance (Current Price: ₹1,651)

• Trend: Strong uptrend with higher tops and bottoms.
• Chart Pattern: Rounding bottom formation at ₹1,570.
• Indicators: Bullish RSI, increased volumes.
• Recommendation: Buy, hold, and accumulate.
  • Target: ₹1,700-1,800
  • Support: ₹1,600-1,570

2. Orient Cement (Current Price: ₹326)

• Trend: Strong uptrend with higher tops and bottoms.
• Chart Pattern: Pennant formation indicating continuation of uptrend.
• Indicators: Bullish RSI, increased volumes.
• Recommendation: Buy, hold, and accumulate.
  • Target: ₹340-355
  • Support: ₹300-290

3. Tata Consultancy Services (TCS) (Current Price: ₹4,297)

• Trend: Bullish sentiments with a rounding bottom formation at ₹4,255.
• Chart Pattern: Recaptured key moving averages (20, 50, 100, 200 day SMA).
• Indicators: Bullish RSI, increased volumes.
• Recommendation: Buy, hold, and accumulate.
  • Target: ₹4,440-4,550
  • Support: ₹4,230-4,150