Nestle India, Axis Bank, Dabur India: How to trade these buzzing largecap stocks
sanjeev February 12, 2025 12:21 PM

Indian benchmark indices continued to bleed on Tuesday amid the ongoing trade war and tariff threats, along with consistent FIIs selling and concerns over domestic economic growth.

BSE Sensex crashed 1,018.20 points, or 1.32 per cent, to end the session at 76,293.60. NSE's Nifty50 plunged 309.80 points, or 1.32 per cent, to settle at 23,071.80 for the day.

Some buzzing stocks including Nestle India Ltd, Dabur India Ltd and Axis Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has to say on these stocks ahead of Wednesday's trading session:

Nestle India | Buy | Target Price: Rs ,2365-2,390 | Stop Loss: Rs 2,085

Nestle India is exhibiting signs of a potential rebound after testing a key support level near Rs 2,150, which aligns with historical demand zones. The stock is holding above its 200-week EMA, suggesting long-term trend stability. Additionally, the recent price action indicates a strong base formation with increasing volumes, hinting at accumulation. The RSI (41.38) is attempting to recover from oversold territory, while the MACD histogram is showing early signs of positive momentum. Prices are likely to pave the way for Rs 2,365 and then Rs 2,390. On the lower side, Rs 2,085 will act as an immediate support.

Axis Bank | Buy | Target Price: Rs 1,105-1,120 | Stop Loss: Rs 932

Axis Bank is showing signs of a potential reversal after taking strong support near the 200-week EMA at Rs 948, which has historically acted as a key demand zone. The stock formed a bullish candle near this level, indicating buying interest. The RSI (38.54) is attempting to recover from oversold territory, suggesting a possible momentum shift. Additionally, the MACD histogram is showing early signs of convergence, hinting at a potential trend reversal. Price structurer is now 'buy on dip' and we believe any fall close Rs 1,005-1,000 will attract fresh buying with potential upsurge towards Rs 1,105, and then Rs 1,120.

Dabur India | Buy | Target Price: Rs 560-570 | Stop Loss: Rs 484

Prices have been trading in rectangle formation for a long and recently we have seen prices rebound from a crucial support zone near Rs 480, which has historically acted as a demand zone. The RSI (41.49) is recovering, signaling the stock is emerging from oversold conditions. The MACD is showing signs of a potential bullish crossover, reinforcing the likelihood of an upward move. The price action suggests that if Dabur managed to sustains above Rs 500-490, it could rally toward the Rs 560-570 zone in the near term. A breakout above Rs 570 would further strengthen bullish momentum. Overall, the technical structure indicates a favorable risk-reward for long positions.

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