The stock market is witnessing high activity in Adani Green, Hero MotoCorp, and Coforge as traders look for potential opportunities. Here’s how analysts suggest trading these stocks:
1. Adani Green
According to an analyst from YES Securities, Adani Green has seen a sharp correction of 63% from its peak price of ₹2,091 in the last five months. The stock has now entered oversold territory on technical indicators, indicating a possible bounce-back.
Trade Strategy:
- Support Level: ₹740
- Resistance Level: ₹900
- Recommendation: Buy on dips with a target of ₹900
2. Hero MotoCorp
Hero MotoCorp is showing bullish momentum after strong monthly sales data and positive sentiment in the auto sector. The stock is trading above its 50-day moving average, indicating a potential upside.
Trade Strategy:
- Support Level: ₹4,450
- Resistance Level: ₹4,700
- Recommendation: Buy with a stop-loss of ₹4,400
3. Coforge
IT services firm Coforge is witnessing profit booking after a strong rally in the last few weeks. However, analysts expect the stock to regain momentum due to positive order book growth and stable earnings outlook.
Trade Strategy:
- Support Level: ₹5,450
- Resistance Level: ₹5,800
- Recommendation: Hold with a target price of ₹5,800
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