These Indian Railway Catering and Tourism Corp, Nippon Life Asset Management, NAM India likely to hog the spotlight

The week started off on a stronger note, tracking the optimism from the global cues and expectations of strong domestic economic growth. BSE Sensex rose to 62.69 points, or 0.55 per cent, at 62.862.20, a rise of 344.69 points. 38, while NSE's Nifty 50 gained 114.10 points, or 0.62 percent, to end the day at 18,613. For the day, they were allowed 45 minutes to take a break.

On Tuesday, select stocks including Indian Railway Catering and Tourism Corporation IRCTC Voltas and Nippon Life India Asset Management NAM India are likely to hog the spotlight at Dalal Street for the session. Here is what Prabhudas Lilladher, Vice President - Technical Research, Vaishali Parekh, will say on these stocks ahead of Tuesday's trading session.

IRCTC has bottomed out near Rs 560 zone and has given a decent pullback towards Rs 630 level where the stock has been in consolidation, and currently has given a strong positive candle to indicate a breakout above the rectangular box in anticipation for further upside move with improvement in the bias. With the RSI showing strength again regained after a short correction to signal a buy and has much upside potential to carry on the momentum still further ahead. We suggest buying and accumulating the stock for an upside target of 727 and keeping the stop loss at 605.

After a brief consolidation, Voltas has witnessed a decent pullback from the falling trendline to indicate a breakout to improve the bias and is anticipated to increase further in the near future. The RSI also is well placed indicating a trend reversal showing strength and has signaled a buy to anticipate further upward movement in the near future. With the chart looking attractive, we suggest buying and accumulating the stock for an upside target of Rs 925, keeping the stop loss of Rs 780 at Rs 925.

NAM India has given a good pullback from the all-time high of Rs 475 to Rs 197, where it has bottomed out and given a decent pullback towards Rs 230 in April 2023. The stock has been in consolidation and trading within a range of 10 points, with a strong base near Rs 220 - 225. The stock has given a strong positive candle moving past the resistance band of 240 levels and anticipates for further upside move, we are looking for the initial target of around 255 where the 200 DMA lies and closing over 256 260 levels will see further strength for fresh upside targets of around 300 - 320 levels. We recommend buying and accumulating the stock for an upside target of 300-320, while keeping the stop loss at 220.