Nifty's Unclear Path: 5 Stocks Poised for Strong Action This Week
Business
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Moneycontrol•19-01-2026, 13:35
Nifty's Unclear Path: 5 Stocks Poised for Strong Action This Week
- •SBI Securities' Sudeep Shah identifies 5 stocks for potential strong action despite Nifty's uncertain direction.
- •Nifty is in a consolidation phase, with weak short-term momentum and a Doji candle on the weekly chart indicating uncertainty.
- •Bank Nifty shows strong outperformance, reaching a 132-week high in its ratio against Nifty, with potential for new record highs.
- •Nifty IT index displays a 'cup-and-handle' pattern, suggesting a major upward breakout in the near future.
- •Top stock picks include HCL Technologies (buy 1700-1690, target 1850) and Punjab National Bank (buy 133-132, target 145).
Why It Matters: Despite Nifty's consolidation, specific stocks and banking indices show strong technical potential for gains.
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