HDFC Securities Recommends Dabur and Inox Wind Amid Market Weakness
Nagaraj Shetti of HDFC Securities recommends buying Dabur at ₹525.00 (target ₹550.00) and Inox Wind at ₹120.00 amid ongoing market weakness. The Nifty 50 has declined 2.5% over five sessions, with key support at 25,850 after breaking 26,100. Despite short-term weakness, the medium-term trend remains positive with bullish chart patterns intact.
*this image is generated using AI for illustrative purposes only.
Technical analyst Nagaraj Shetti of HDFC Securities has identified investment opportunities amid the current market downturn, recommending two specific stocks as the Indian equity markets continue to face selling pressure. The Nifty 50 has declined 2.5% over five consecutive sessions, with the Sensex losing over 2,200 points during this period.
Market Outlook and Technical Analysis
Shetti's analysis reveals that while Nifty has shown short-term weakness, the overall medium-term trend remains positive. The index has slipped into sharp weakness after showing range-bound movement in recent sessions. Key technical levels have been identified for traders and investors.
| Technical Parameter | Level |
|---|---|
| Immediate Support | 25,850 |
| Broken Support | 26,100 |
| Immediate Resistance | 26,150 |
The analyst notes that the bullish chart pattern with higher tops and bottoms remains intact on the daily chart, suggesting the current weakness could be part of a new higher bottom formation pending confirmation.
Stock Recommendations
HDFC Securities has identified two stocks with favorable technical setups for near-term investment:
Dabur
| Parameter | Details |
|---|---|
| Entry Price | ₹525.00 |
| Target Price | ₹550.00 |
| Stop Loss | ₹510.00 |
| Timeframe | One week |
Inox Wind
| Parameter | Details |
|---|---|
| Entry Price | ₹120.00 |
| Target Price | ₹114.00 |
| Stop Loss | ₹124.00 |
| Timeframe | One week |
Market Context
The recommendations come amid heightened market volatility driven by uncertainty over potential Trump administration tariffs. The Sensex experienced intraday losses exceeding 670 points, contributing to cumulative five-day losses of over 2,200 points, representing a 2.6% decline.
Market participants are closely monitoring developments related to tariff policies, particularly those affecting countries purchasing Russian oil. The technical analysis approach focuses on identifying opportunities within the current market structure while acknowledging the prevailing short-term weakness.
Risk Considerations
Shetti emphasizes that the underlying short-term trend has turned downward, with the immediate support level of 26,100 being breached. Investors are advised to monitor the next lower support around 25,850 levels for further directional cues. The technical recommendations include specific stop-loss levels to manage downside risk in the current volatile environment.
Historical Stock Returns for Vodafone Idea
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.09% | -2.93% | +9.43% | +54.46% | +40.93% | -4.17% |
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