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Trade Spotlight | How you should trade in CSB Bank, HDFC AMC, HDFC Life today

HDFC AMC shares rallied 5 percent, the biggest single day gains August 16 last year, to close at Rs 1,764 and formed long bullish candle on the daily charts with above average volumes.

March 22, 2023 / 06:58 IST
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Buying in banking and financial services stocks, and an up-move in global counterparts helped Indian equities rebound on March 21. The BSE Sensex gained nearly 450 points to close above 58,000, while the Nifty50 rose nearly 120 points to end tad above the 17,100 mark, forming a bullish candlestick pattern on the daily charts.

The bounce back was on expected lines after a back-to-back Doji pattern formation in previous sessions, but experts feel the sustainability of this rebound is important for further up-move.

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The Nifty Midcap 100 and Smallcap 100 indices also regained strength, rising around six-tenth of a percent each on positive breadth. About three shares advanced for every two declining shares on the NSE.

Stocks that were in action included private sector lender CSB Bank which surged nearly 9 percent to Rs 246, the highest closing level since February 10 and formed a robust bullish candlestick pattern on the daily charts with strong volumes. With a single-day move, the stock climbed all key moving averages (9, 21, 50, 100 and 200-day EMA - exponential moving average).