Market experts recommend buying Coal India and HDFC Bank shares. Target prices are set at ₹400 and ₹1,850 respectively. Consult a financial advisor before investing.
Suitable Shares to Buy: The Indian stock market experienced a sharp decline last week, but opportunities are emerging in certain stocks. Market expert Rajesh Vosle suggests investors consider Coal India and HDFC Bank. Let's examine the performance and target prices of these shares.
Coal India: Buying Opportunity After the Dip
Share Status
NSE Code: COALINDIA
Current Price: ₹369.35
Market Outlook: Bullish
Coal India shares have seen a significant decline in the last few months. It has fallen by approximately 30% from its highest level of ₹517. However, at the current level, it is trading near its 20-day Exponential Moving Average (DEMA), indicating consolidation.
What do the Technical Indicators Say?
- RSI and MACD support a bullish trend for this share.
- The Supertrend indicator suggests a buy signal.
- Emerging signs of a positive trend reversal are visible, indicating potential upside in the future.
Strategy for Investors
Buy Level: ₹360-₹355
Stop Loss: ₹340
Target Price: ₹400
HDFC Bank: Indication of Stability, Suitable Time for Investment
Share Status
NSE Code: HDFCBANK
Current Price: ₹1,732.40
Market Outlook: Bullish
HDFC Bank shares have recently shown a good recovery from the 200-DSMA level. It is trading above short-term EMAs, which indicates a positive trend for the share.
What do the Technical Indicators Say?
- The MACD indicator has reached the zero line, suggesting the expectation of a positive trend continuing in the future.
- The Supertrend indicator confirms the bullish nature of the share.
- Consistently increasing trading volume further strengthens the buying trend.
Strategy for Investors
Buy Level: ₹1,730-₹1,720
Stop Loss: ₹1,630
Target Price: ₹1,850
Disclaimer: This report is for informational purposes only. Consult a financial advisor before investing.
