IRCTC, Voltas, NAM India: How to trade these stocks amid the results buzz?

Domestic equity markets kicked off the week on a stronger note tracking the optimism from the global cues and expectations of strong domestic economic growth. BSE Sensex jumped 344.69 points, or 0.55 per cent, to settle at 62,846.38, while NSE's Nifty50 gained 114.10 points, or 0.62 per cent, to end the day at 18,613.45 for the day. Select stocks including Indian Railway Catering and Tourism Corporation (IRCTC), Voltas and Nippon Life India Asset Management (NAM India) are likely to hog the spotlight at Dalal Street for the session. Here is what Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher has to say on these stocks ahead of Tuesday's trading session:Indian Railway Catering and Tourism Corporation | Buy | Target Price: Rs 727 | Stop Loss: Rs 605 IRCTC has bottomed out near Rs 560 zone and given a decent pullback towards Rs 630 levels where the stock has been in consolidation and currently has given a strong positive candle to indicate a breakout above the rectangular box anticipating for further upside move with improvement in the bias. With the RSI showing strength has again regained after a short correction to signal a buy and has much upside potential to carry on the momentum still further ahead. We suggest buying and accumulating the stock for an upside target of Rs 727 while keeping the stop loss at Rs 605.

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Voltas | Buy | Target Price: Rs 925 | Stop Loss: Rs 780 Voltas, after a short consolidation, has witnessed a decent pullback has come out of the falling trendline to indicate a breakout to improve the bias and is anticipated to rise further in the coming days. The RSI also is well placed indicating a trend reversal showing strength and has signaled a buy to anticipate further upward movement in the coming days. With the chart looking attractive, we suggest buying and accumulating the stock for an upside target of Rs 925 keeping the stop loss of Rs 780.Nippon Life India Asset Management | Buy | Target Price: Rs 300-320 | Stop Loss: Rs 220 NAM India has given a good correction from the all-time high of Rs 475 to Rs 197 levels where it has bottomed out and given a decent pullback towards Rs 230 levels in April 2023. Thereafter, the stock has been in consolidation and trading within a range of 10 points having a strong base near Rs 220-225 zone. Currently, the stock has given a strong positive candle moving past the resistance band of Rs 240 levels and anticipating for further upside move, we are looking for the initial target of around Rs 255 where the 200 DMA lies and closing above Rs 256–260 levels will see further strength for fresh upside targets of around Rs 300-320 levels. We suggest buying and accumulating the stock for an upside target of Rs 300-320 while keeping the stop loss at Rs 220. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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