Nifty's Cautious Tone: Market Experts Eye Up to 12% Gains in MTAR Tech & Angel One
Amidst Nifty's ongoing consolidation, market analysts are recommending two stocks, MTAR Technologies [MTARTECH] and Angel One [ANGELONE], for potential near-term gains of up to 12% on dips, citing strong technical breakouts.
The Indian equity benchmark Nifty 50 is currently navigating a phase of consolidation, with market analysts noting persistent weakness as it struggles to overcome its crucial 20-day Exponential Moving Average (EMA). Key support for the index is identified around the 23,400 level, indicating a cautious sentiment prevailing in the broader market.
Despite the overarching market cautiousness, specific opportunities are emerging for investors. Market experts are highlighting two stocks that present 'buy on dips' potential for near-term gains, backed by robust bullish technical indicators. These recommendations offer potential upsides of up to 12%.
MTAR Technologies [MTARTECH]
One prominent recommendation is MTAR Technologies [MTARTECH], a leading precision engineering company serving critical sectors such as defence, nuclear, and space. Analysts suggest accumulating MTAR Tech shares on market dips, setting a target price of ₹8,650. This implies a significant potential upside of approximately 12% from current levels, driven by its strong technical breakout patterns.
Angel One [ANGELONE]
Another stock catching analysts' attention is Angel One [ANGELONE], a prominent Indian fintech company and brokerage house. Experts have issued a 'Buy' call for Angel One on price corrections, with a target price of ₹370. This recommendation forecasts an upside potential of around 9%, supported by its compelling bullish technical formations.
The bullish outlook for both MTAR Technologies and Angel One is primarily underpinned by their strong technical breakouts observed on charting patterns. These technical signals suggest underlying momentum and strength, offering opportunities even when the Nifty faces immediate challenges. Investors are advised to consider these opportunities by accumulating shares on minor price corrections.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.