Market Trading Guide: Buy Ashok Leyland, HDFC AMC and 3 more stocks on Tuesday for gains up to 11% – Stock Ideas

Indian headline indices closed with modest gains after a volatile session, as weakness in IT and pharma stocks was offset by strong buying in auto counters. The markets once again encountered resistance at higher levels, with the Nifty unable to sustain above the 100-DMA, currently positioned around 24,800.

Decoding the day’s action, Nilesh Jain, Head – Technical and Derivatives Research Analyst at Centrum Broking said that Nifty formed a Doji candle on the daily chart, reflecting indecision among market participants. “Overall, the market continues to lack a clear directional bias, and the Nifty is expected to consolidate within a broader range of 24,600–24,950 ahead of the weekly expiry. A decisive breakout above the 25,000 mark is crucial to trigger a fresh leg of the uptrend. If this breakout occurs, it could pave the way for a rally towards 25,300, and potentially extend to 25,500. On the downside, immediate support remains at 24,710, followed by 24,620,” Jain said.
Here are 5 stock recommendations for Tuesday:

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