The Sensex and Nifty 50 fell for the third consecutive session on Monday, 11 May, as hopes of possible US-Iran talks weakened, crude oil prices jumped, and the rupee fell to record lows. According to reports from Mint, the Nifty 50 plunged 1.50% to close at 23,815.85, with experts warning that if the index falls below 23,800, it may drop to 23,500 or even lower. Prime Minister Narendra Modi's austerity call also influenced market sentiment, creating opportunities for selective stock investments.
Market experts Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking have identified six stocks for short-term investment with targets for the next 1-2 weeks. As reported by Mint, Upadhyay recommends Emcure Pharmaceuticals (₹1,820-₹1,860 target, ₹1,580 stop loss), Coal India (₹495-₹510 target, ₹440 stop loss), and Zydus Lifesciences (₹1,020-₹1,040 target, ₹910 stop loss). Tailor suggests Torrent Pharmaceuticals (₹4,900 target, ₹4,300 stop loss), Welspun Corp (₹1,450 target, ₹1,260 stop loss), and Sharda Cropchem (₹1,270 target, ₹1,090 stop loss).
According to Upadhyay's analysis reported by Mint, Coal India exhibits a structurally strong uptrend with healthy pullbacks toward EMA levels and constructive volume behavior. The stock formed a bullish engulfing candle near the 21 EMA support zone, suggesting renewed momentum. For Zydus Lifesciences, the stock delivered a strong multi-month breakout supported by bullish candle formation with positive RSI divergence near the 850 zone. Tailor noted that Torrent Pharmaceuticals is showing strong bullish momentum after breaking above its previous all-time high of ₹4,482.90, forming strong bullish candles on the daily chart.
As reported by Mint, the current market decline is attributed to weakened hopes of US-Iran talks, rising crude oil prices, and a falling rupee. Experts suggest this presents an opportunity to invest in stocks with strong fundamentals and favorable technical indicators. The recommendations are based on strong bullish setups, decisive breakouts from consolidation zones, and sustained upward trends. Technical indicators including EMAs (21, 50, 100, 200), bullish engulfing candles, positive RSI readings, and higher highs and higher lows formations support the short-term investment outlook.
