In the stock market, on July 27, there was a loss of all the gains from the previous trading day, and Nifty closed below 19700. Despite forming a bearish engulfing candlestick pattern, market breadth showed signs of resilience. Experts believe there may be a correction, but support is expected around 19500 for Nifty.
Amid this scenario, certain stocks stood out, including Syngene International, Poly Medicure, and Raymond. Syngene International showed a consolidation range breakout and closed at a record high of Rs 807, up nearly 6%, while Poly Medicure also recorded a fresh high of Rs 1,222, up 6.7%. Additionally, Raymond surged more than 6% to reach a record high of Rs 1918.
Shrikant Chauhan of Kotak Securities advises investors on these stocks:
Poly Medicure:
After a consolidation phase, the stock formed a flag chart pattern, suggesting further upside momentum. A sustained level above Rs 1170 may lead to a rally up to Rs 1300.
Raymond:
The stock’s continuous trade in a rising channel pattern and higher low series indicate potential for further upside. If it remains above Rs 1850, it may reach Rs 2050; otherwise, retesting Rs 1800 is possible.
Syngene International:
Breaking out of the ascending triangle pattern and forming a higher bottom formation indicate the start of a fresh upside move. The stock has support at Rs 780 and potential upside up to Rs 870 in the short term.
