Nifty Shows Resilience: Two Stock Breakouts to Watch According to Analyst Nagaraj Shetti
Nifty finds support: Nagaraj Shetti spots two stock breakouts worth watching
economictimes_indiatimes
Image: economictimes_indiatimes
Despite a recent decline, Nagaraj Shetti, Senior Technical Analyst at HDFC Securities, believes the Nifty index is poised for recovery. He identifies Glenmark Pharmaceuticals and Oberoi Realty as two stocks primed for breakouts, with defined buy levels and targets.
- 01Nifty index shows signs of recovery despite recent volatility.
- 02Support levels identified at 23,500 to 23,400.
- 03Glenmark Pharmaceuticals is positioned for a breakout with a target of ₹2,310.
- 04Oberoi Realty has reclaimed its 200-day moving average, with a target of ₹1,800.
- 05Investors are encouraged to consider quality stock setups to mitigate risk.
Advertisement
In-Article Ad
The Nifty index experienced a sharp pullback recently, but Nagaraj Shetti, Senior Technical Analyst at HDFC Securities, suggests this is merely a technical dip within a broader recovery. He identifies strong support levels at 23,500 to 23,400 and anticipates a bullish move above 24,000 to 24,100 could lead to further gains. Shetti highlights Glenmark Pharmaceuticals and Oberoi Realty as two promising stocks for investors. Glenmark is currently consolidating, with a buy level at ₹2,205 and a target of ₹2,310. Meanwhile, Oberoi Realty has shown strong momentum, trading at ₹1,684 with a target of ₹1,800. Shetti's analysis indicates that the formation of a higher bottom on the Nifty is a significant shift, suggesting that the risk of missing out on potential gains is increasing for investors.
Advertisement
In-Article Ad
Investors may find opportunities in the stock market as the Nifty index shows signs of recovery, particularly with quality stocks like Glenmark and Oberoi Realty.
Advertisement
In-Article Ad
Reader Poll
Are you considering investing in stocks like Glenmark and Oberoi Realty?
Connecting to poll...
More about HDFC Securities
Cement Producers Anticipate Significant Profit Growth in Q1 FY26
The Economic Times • Apr 14, 2026
Sarda Energy Shares Surge After HDFC Securities Issues 'Buy' Rating
Business Standard • Apr 13, 2026
Top Stocks to Consider for Long-Term Investment in 2026: TCS, Shriram Finance, and More
The Economic Times • Apr 13, 2026
Read the original article
Visit the source for the complete story.