Kiran Jani, Head of Technical Research at Jainam Broking, while speaking on BTTV's Daily Calls on Monday, said the overall market is currently range-bound and advised investors to adopt a 'buy-on-dips' strategy.

"The overall market is in the range only. Buy on dips would be the strategy. For Nifty50, the strict stop loss is 23,800. If the index slips below this level, then we can expect further profit booking. Otherwise, we are not expecting any such kind of a big price correction over a period of time," he said.

On NLC India Ltd, Jani said, "The overall chart pattern looks interesting. From 2024 till now, the stock price has been in a consolidation zone, and it has not been able to cross its resistance level of Rs 300. It is trading above its previous resistance level of Rs 300. If you have this particular stock, you can hold it. After two years or two-and-a-half years of consolidation, if you look at the monthly chart price pattern or weekly chart pattern, there is a big breakout playing around."

"One can go long or buy on dips would be the strategy. Keep a strict stop loss below Rs 284. If the price is not breaking down below Rs 284, then you can expect prices to retest Rs 400-500 in the upcoming time. At least in a year or two, we can expect prices to retest the Rs 500 kind of target," he added.

Meanwhile, Kranthi Bathini, Equity Strategist at WealthMills Securities, commented on ABB India shares, which fell sharply today.

"On an extremely long-term basis, if an investor has over a five-year or longer horizon, these pain points give a good opportunity. Of course, there is short-term pain for this company at this point of time in terms of the results, and brokerage downgrades are concerned. One also needs to look at how the stock has rallied in the last six months," he stated.

"That is also important for the stock. That is the reason these stocks are pricey in terms of valuations. Whenever these kinds of disappointing results come, if the results do not match expectations, we tend to see sharp declines in these kinds of companies," Bathini said.

"But as far as ABB is concerned, fundamentally it is a very strong company. Of course, a couple of quarters of headwinds can be there in terms of earnings. If the investor is really a long-term investor, she can add in a very staggered manner for a medium- to longer-term basis," he added.

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