Best Stocks To Buy Today: United Spirits, Gala Precision Engineering Among Top 5 Picks For December 18, 2024

Stocks to Watch: Around 11:22 AM, the BSE Sensex plunged close to 400 points and fell near 80,300, while the NSE Nifty50 declined more than 100 points and traded at 24,232,45

Investors continued to act cautiously ahead of the US Federal Reserve’s interest rate decision.

Source : ABPLIVE AI

Stocks to Watch: The key benchmark indices began trading lower on December 18 as investors continued to act cautiously ahead of the US Federal Reserve’s interest rate decision. As the session progressed, the stock market continued to bleed.

Around 11:22 AM, the BSE Sensex plunged close to 400 points and fell near 80,300, while the NSE Nifty50 declined more than 100 points and traded at 24,232,45.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, noted, "The near-term market construct has turned weak with FIIs turning sellers on rallies. Yesterday’s massive FII sell figure of Rs 6,410 crore in the cash market indicates that more selling is in store on market bounces."

Stock Recommendations By Kunal Kamble, Senior Technical Research Analyst At Bonanza

United Spirits

The security gave a breakout from the Cup and Handle pattern, signalling the beginning of an uptrend. This surge in volume reflected robust buyer interest. Based on this technical setup, investors can assume a long position in UNITDSPR with a stop-loss at 1480 and an upside target of 1700-1800.

Walchandnagar Industries Ltd.

WALCHANNAG gave a breakout from the Adam and Adam pattern, signalling a trend reversal to the upside. The increase in volume highlights buyers' willingness to accumulate the stock at current levels. Based on this technical setup, a long position can be initiated in the stock with a stop-loss at 260 and an upside target of 340-400.

Orient Technologies Ltd

ORIENTTECH settled at an all-time high with rising volumes, indicating strong buyer interest. From a technical point of view, a long position can be initiated in the security with a stop-loss at 435 and an upside target of 550-650.

Gala Precision Engineering Ltd

GALAPREC continued its uptrend after a throwback, indicating continued bullish momentum. The increase in volume highlights strong buyer interest at current levels. Based on this, a long position can be initiated in GALAPREC with a stop-loss at 1050 and an upside target of 1500-1800.

G M Breweries

GMBREW gave a breakout above its resistance level and closed higher, indicating a bullish breakout. The significant increase in volume during the breakout reflected strong buyer interest in the security. Based on the above technical setup, a long position can be initiated in GM Breweries with a stop-loss at 810 and an upside target of 945.

(Disclaimer: The views and recommendations provided above are those of individual analysts or brokerage firms, and do not reflect the opinions of ABP Live. We recommend that investors consult certified experts before making any investment decisions.)