Market trading guide: Data Patterns among 2 stock recommendations for Monday

Synopsis

Indian equities fell over 1% as escalating Middle East tensions pushed crude oil prices higher, weighing on sentiment. Analysts warn sustained oil gains could impact inflation, deficits and monetary policy. Technical analysts recommend Data Patterns and NALCO as potential trades for Monday based on breakout patterns and bullish momentum.

India's stock market indices Sensex and Nifty tumbled over 1% on Friday after a day's breather as the conflict in the Middle East entered its seventh day, driving crude oil prices higher.

"Indian equity markets extended their decline following the prior session's relief rally, as escalating US-Iran tensions disrupted key Middle Eastern oil and gas supplies, driving crude prices higher. A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory, and the RBI's monetary stance," Vinod Nair, Head of Research, Geojit Investments, said.

Here are two recommendations for Monday:

Data Patterns | Buy: Rs 3,350-3,360 | Stop loss: Rs 3,150 | Target: Rs 3,500

(Kunal Kamble, Sr Technical Research Analyst, Bonanza Portfolio)

NALCO | Buy: Rs 394–396 | Stop loss: Rs 380 | Target: Rs 425

National Aluminium has formed a classic flag and pole continuation pattern on the weekly chart following a strong prior upmove. The recent breakout from the consolidation phase signals renewed bullish momentum. The stock is trading above key moving averages, while RSI remains in the bullish zone, indicating strength and potential continuation of the prevailing uptrend.

(Kunal Kamble, Sr Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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