NMDC: A Mineral Powerhouse
The National Mineral Development Corporation (NMDC) presented an attractive buying opportunity on February 3, 2026, with recommendations suggesting entry
within the Rs 81 to Rs 82 range. A stop-loss was advised at Rs 75, targeting an upward movement to Rs 90. Technical analysis of the weekly chart indicated a significant breakout above the previous swing high of Rs 80. Furthermore, NMDC demonstrated resilience by finding support from its short-term moving averages, specifically the 20 and 40 Daily Exponential Moving Averages (DEMAs). The stock had been consolidating within a broad range for approximately three weeks, signaling an imminent upward breakout. Momentum indicators were displaying positive crossovers, a clear sign of strengthening market sentiment. Key resistance levels were identified at Rs 85, while crucial support was established at Rs 77, providing a defined trading range for investors.
DLF: Real Estate Rebound
DLF, a prominent player in the real estate sector, was recommended for purchase within the Rs 627 to Rs 628 band on February 3, 2026. An aggressive stop-loss was set at Rs 575, with a target price of Rs 700. The stock's weekly chart revealed a notable reversal pattern from the significant 200-week moving average, indicating a potential shift in trend. It also showed strong support from an important demand zone, reinforcing its stability. Momentum indicators were exiting oversold territory and displaying positive crossovers, suggesting renewed buying interest and underlying strength in the stock. Key resistance was pegged at Rs 670, with immediate support found at Rs 600, delineating the immediate price action boundaries for traders.
Blue Star: Cooling Innovation
Blue Star was highlighted as a strong buy recommendation for February 3, 2026, with an optimal buying range set between Rs 1838 and Rs 1839. A protective stop-loss was advised at Rs 1680, aiming for a substantial target of Rs 2030. The stock's technical setup showed a clear breakout above an ascending trendline, concurrently surpassing the 200 Daily Exponential Moving Average (DEMA), which stood at Rs 1800. It was also trading comfortably above its short-term 20 and 40 DEMAs, underscoring its bullish momentum. Momentum indicators were signaling positive sentiment, indicating underlying strength in the stock's performance. Key resistance was observed at Rs 1864, with a critical support level identified at Rs 1760, providing a framework for potential price movements.
IOC: Energy Sector Strength
Indian Oil Corporation (IOC) was recommended for investment within the Rs 164 to Rs 165 price range on February 3, 2026, with a stop-loss set at Rs 155 and a target of Rs 175. The stock had been consolidating in a broad range for the past month, exhibiting an ascending trendline breakout while simultaneously taking support from the 20 DEMA, which was positioned at Rs 161. This pattern suggested an anticipated breakout from its consolidation range. Positive momentum indicators further reinforced the bullish outlook, indicating underlying strength. Key resistance was identified at Rs 169, with a significant support level established at Rs 157, defining the immediate trading corridor for the stock.
