Nifty ended with gains on Friday, driven by strong buying in consumer and metal stocks. The index closed above the 24,300 mark, extending its gains for the second consecutive week. Analysts suggest buying Shipping Corporation at Rs 305-309, with a target of Rs 400 and a stop loss at Rs 270, indicating a potential upside of 29%. The stock has shown a strong breakout from an ascending triangle pattern, with improving momentum.
Additionally, Power Grid is recommended for purchase at Rs 318-320, targeting Rs 350 with a stop loss at Rs 295, reflecting a potential upside of 9%. The stock has broken out of a consolidation range, supported by rising volumes. Immediate resistance for Power Grid is seen near Rs 330-340, while key support is at Rs 295.
