Stocks Picks For Friday, June 11, 2021

In the previous session, the markets opened on a positive note and remained in positive territory throughout the day. The Nifty index closed with a net profit of 102.40 points. However, we have witnessed a range-bound trade in the index within 100 points. We recommend continuing to follow the trend cautiously by adopting a stock-specific approach in the markets.

Following stocks are technically strong and one can go long at dips.

NCC (NS:NCCL) Ltd


NSE :NCC BSE :500294 Sector : Construction

In the daily chart, NCC Ltd is moving in Double Bottom formation. The stock has finally given breakout over its consolidation phase. A rising window occurred on the candles. As seen on Ichimoku cloud, the stock has moved on higher post breaking above the prices. Along with this price are placed above the cloud and also above base and conversion lines indicating positive bias to continue.

In short, the outlook for NCC LTD will remain positive. This is valid as long as the 81.50 level stays intact on the downside for the short term move towards 90 and higher near 96 levels. Buy on dips around 83-84 levels would be an ideal strategy to enjoy the ride on the upside.

L&T Finance Holdings Ltd (NS:LTFH)

NSE :L&TFH BSE :533519 Sector : Finance- NBFC

On the daily time frame, L&T finance holding share prices are moving precisely within the Rounding Bottom pattern. The stock closed with a green candle near its important resistance of 100.50 levels and only breaking above would take prices higher. Going by the bar technique, the stock has broken two months high. As per Band Bollinger, there is a positive confirmation as prices managed to close near the upper band from its consolidation phase. The Relative Strength Index (RSI) on the daily chart is 64.05, which indicates bullishness.

In short, L&T finance holding looks to be at a crucial juncture but with bullish up move expecting. Break above 100.60 levels which could take prices toward 108 or higher levels. This outlook is valid as long as 95.50 remains protected on the downside.