These 3 stocks can create a stir in the stock market on Monday! Know expert opinion before investing

New Delhi: The trend of decline in the Indian stock market continued for the fifth day on Thursday. Investors were disappointed after seeing the recession in the stock market. FMCG and pharma sector stocks played a major role in the decline on Thursday. Due to which the morning rush also ended till the end. Key Indian indices, S&P BSE Sensex and Nifty 50 fell by 110 points (0.14%) and 26 points (0.11%), respectively. Sensex closed at 77,580, while Nifty ended at 23,532. However, the main reasons behind this decline are considered to be the strengthening of the dollar and concerns about withdrawal of funds by foreign investors.

According to Rupak Dey, Senior Technical Analyst, LKP Securities, Nifty showed a 'Gravestone Doji' pattern near its 200-day EMA, indicating bearish sentiment. Dey further said that this signals a 'Sell on Rise' outlook, as the index is in the oversold zone. If Nifty breaks below the 200-day EMA, selling pressure may increase further. For this, there can be support of 23,450 and resistance of 23,650.

Click here to read more business related news

Positive sign from Bajaj Holdings & Investment

Bajaj Holdings is currently in a bullish trend and recently showed a breakout, indicating its positive movement. Its technical indicators are strong, and the Relative Strength Index (RSI) is also in a positive trend, indicating that the stock has the potential for upside movement. It is being suggested to buy this stock at the level of Rs 10,850-Rs 10,855. Its target price has been kept at Rs 11,350 and stop loss at Rs 10,600.

Tips Music stock likely to rise

Flag and Pole pattern is forming on the charts of Tips Music, which indicates breakout and uptrend. Following this pattern, the stock is likely to remain bullish, further strengthened by strong volumes and support from the Exponential Moving Average (EMA). Tips Music is suggested to buy at Rs 923-925 levels. Its target price is Rs 960 and stop loss is Rs 900.

HCL Technology's return rate is 24.4 percent

HCL Technologies' Return on Equity (ROE) is 24.4%, indicating its strong financial performance. Apart from this, its valuation is also good and if the stock breakouts above Rs 1,897, it can reach Rs 2,050. It is suggested to buy this stock at the level of Rs 1,865, while the stop loss has been kept at Rs 1,832.