IREDA, Ola Electric, Adani Energy Solutions, Crisil, Supreme Petrochem: Expert shares outlook

Benchmark Nifty50 is facing selling pressure on Tuesday and is likely to trade in the 23,250-23,450 range over the short term, according to Vishnu Kant Upadhyay, AVP of Research at Master Capital Services.

The market expert, in an interaction with Business Today Television (BTTV), also shared his stock-specific views on Indian Renewable Energy Development Agency Ltd (IREDA), Adani Energy Solutions Ltd, Ola Electric Mobility Ltd, Crisil Ltd and Supreme Petrochem Ltd.

Upadhyay highlighted Crisil and Supreme Petrochem as his preferred stock picks.

IREDA: Upadhyay said the stock has been in a bearish phase and its overall structure remains weak. "I'm not expecting any kind of reversal unless it reclaims Rs 120 level, where one should consider taking an exit," he stated.

Adani Energy Solutions: On Adani Energy Solutions, Upadhyay said, "I believe as long as the stock is trading above Rs 1,320, one should stay invested for targets Rs 1,634-1,700."

Ola Electric: "From a technical standpoint, existing investors can hold on to the stock until it holds above Rs 34. Fresh positions should only be considered if the counter sustains above Rs 41. Once it trades above Rs 41 level, one can expect a target of Rs 60-62-odd level. On the lower side, Rs 34 would act as immediate support," Upadhyay said.

Crisil: Upadhyay said one can stay invested in Crisil with a stop loss of Rs 4,480. He expects targets of Rs 5,100-5,200 for the stock.

Supreme Petrochem: Upadhyay expects Supreme Petrochem to hit an upside target of Rs 996 and advised keeping a stop loss at Rs 788.