Hot Stocks | Stove Kraft, RITES, Gujarat Alkalies can deliver up to 16% in short term

Expert advises Stove Kraft, RITES, Gujarat Alkalies & Chemicals for short term

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26 Aug, 2025 12:21

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The Nifty50 fell for the third straight session on October 16 to close at 19,731, down 19 points. However, momentum and volatility remained shallow in these three sessions as the index moved in a narrow range of 200-odd points.

The Nifty Midcap and Smallcap indices, too, traded in a tight range through the last three sessions. Any level above 19,845 could revive the bullish momentum in the Nifty. On the downside, 19,480 could offer the support.

The Nifty and the NSE500 have managed to register follow-up gains after forming bullish reversal candlestick patterns in the previous week. This has kept the hope alive for short-term bullish traders. The Nifty has been hovering on its 50-day EMA (exponential moving average 19,587) for the last 15 days, which indicates short-term consolidation. On the other side, the Bank Nifty has not been able to sustain above its 50-day EMA (44,624).

Short-term resistance for the Nifty is likely at 19,840, above which it could extend the up-move towards 20,000. Support for the Nifty is likely at 19,480, which happens to be the previous swing low on the daily charts.

At present, almost 90 percent of the stocks from the NSE500 are trading above their 200 DMA, which indicates strong market breadth.

We expect market to remain choppy as far as benchmark indices are concerned. However, stock specific bullish actions may continue to be there. Traders have to be vigilant in selecting stocks in mid and small cap segment due to current consolidation phase of the market. We advise traders to hold Nifty longs with 19,480 stop-loss.

The stock price has been finding support near its 20-day EMA for last many sessions. Stock price has broken out from downward sloping trend line on the daily chart. Price breakout is accompanied with jump in volumes.

The stock price is placed above its 20, 50 and 200 DMA, indicating bullish trend on all time frame. Indicators and oscillators like MACD (moving average convergence divergence) and RSI (relative strength index) have turned bullish on the daily charts.

The stock price has broken out from descending triangle on the daily chart. Price breakout is accompanied with jump in volumes. Stock price is placed above its 20, 50 and 200 DMA, indicating bullish trend on all time frame.

The stock has been forming higher tops and higher bottoms on the weekly charts. Indicators and oscillators like MACD and RSI have turned bullish on the weekly charts.

The stock price has been forming higher tops and higher bottoms on the daily charts. Stock is placed above its 20, 50, 100 and 200 DMA, which indicates bullish trend on all time frames. Indicators and oscillators have turned bullish daily and weekly charts.