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Hot Stocks | Here is why you should bet on UltraTech Cement, Colgate-Palmolive, Bharat Dynamics for short term

Bharat Dynamics has given a falling trend line breakout with a rise in volumes on the daily chart. The momentum indicator RSI has also given a positive crossover which confirms the buy signal on the daily chart.

December 01, 2022 / 07:06 AM IST
 
 
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Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

The Nifty made a new all-time high during the day on November 30 as the Nifty bulls remained at the helm during the day. Unlike the preceding two sessions, Nifty moved up smartly on Wednesday's trading.

The momentum oscillator RSI (relative strength index) has given a falling trend line breakout. The crucial short-term moving averages are sitting below the index value, confirming the positive trend.

The trend is likely to remain bullish as long as it remains above 18,600 as the support level shifts higher. On the higher end, resistance is visible at 18,800-19,000.