Dalmia Bharat, TVS Motor Shine as Top Short-Term Picks for Friday Amid Market Volatility

Indian stock markets closed sharply lower on Thursday, weighed down by declines in auto, IT, and pharma sectors. Despite the broader weakness, technical analysts have spotlighted Dalmia Bharat and TVS Motor as standout short-term buys for Friday, with potential gains of up to 5%.

Key Highlights:

Market Overview:
Markets continued their losing streak, with the Nifty slipping below its 200-hour moving average and finding support at the 21-day EMA. Analysts warn of further downside unless Nifty breaks above 24,800, with immediate support at 24,445 and resistance at 24,650.

Dalmia Bharat – Bullish Momentum:

Closed at ₹2,106.90, up 0.84% on Thursday.

Technical breakout confirmed by strong volume and a bullish candle for the second session.

The stock is forming higher highs and higher lows, with RSI above 70 and prices trading above all major EMAs.

Recommended buy at current levels with a stop loss at ₹2,060 and a target of ₹2,220, implying a 5.3% upside.

TVS Motor – Bull Flag Breakout:

Closed at ₹2,805, holding minor gains but signaling a breakout from a bull flag and pole pattern.

Strong volume and EMA crossovers (20 EMA above 50 EMA) indicate sustained bullish momentum.

RSI near 60 supports the positive outlook.

Buy suggested at current price, with a stop loss at ₹2,770 and a target of ₹2,880+, offering a 3% upside.

Analyst View:
Both stocks exhibit robust technical setups despite the broader market correction, making them attractive for short-term traders seeking quick gains.

Source: The Economic Times