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The market is expected to consolidate after the two-day rally and may attempt another session of upward movement. Below are some short-term trading ideas to consider.
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The market is expected to take a cue from the budget for further direction, while volatility may remain on the higher side. Below are some trading ideas for the near term.
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The consolidative phase is likely to continue in the market despite the overall positive trend. Below are some trading ideas for the near term.
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The market may consolidate before showing further upward movement in the coming sessions. Below are some trading ideas for the near term.
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Experts expect the Nifty 50 index to take support at the 22,600-22,500 zone, and above these levels, there is a possibility of a resumption of the upmove towards the 23,000 mark. However, below 22,500, a sharp downward move can't be ruled out.
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Here's what experts recommend investors should do with these stocks when the market resumes trading on Budget day.
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Considering the overall chart structure, the expert anticipates short-term volatility and recommends buying Nifty at support near the 21,100 – 21,000 zone for an upside potential ranging from 21,500 to 21,850 levels.
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Blue Star saw new closing high on Monday and formed long bullish candlestick pattern on the daily charts with higher highs, higher lows formation for three days in a row.
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Going forward, 19,600-19,500 is expected to act as a crucial support for the Nifty50 in coming sessions, and if it manages to sustain above then the gradual upmove towards 20,000 can be possible, experts said
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JSW Energy formed strong bullish candlestick pattern on the daily timeframe with robust volumes. The stock traded above all key moving averages, while it has been rising for fourth consecutive month.
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Considering the strong momentum, the index is likely to march towards 20,000 milestone in coming days, provided its holds 19,700-19,800 area, while the crucial support remains at 19,600-19,500 levels, experts said
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BSE gained for sixth consecutive session and jumped 5.5 percent to end at record closing high of Rs 1,188, forming long bullish candlestick pattern on the daily timeframe
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Rail Vikas Nigam sustained its uptrend for third consecutive session and registered strong rally (from Rs 77.50 to Rs 130) in last five out of seven days. The stock surged 10 percent to Rs 130 and formed long bullish candlestick pattern on the daily scale, with above average volumes.
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Rail Vikas Nigam has formed robust bullish candlestick pattern on the daily charts for yet another session, with making higher highs higher lows for four days in a row.
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Sonata Software added nearly 3 percent gains to end at record closing high of Rs 859, on top of 11 percent rally in previous session, forming bullish candle on the daily timeframe with long upper shadow. The volumes remained robust for last both trading sessions.
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Primary trend remains positive as Rail Vikas Nigam is trading above its 200-day EMA. Momentum indicators and oscillators are showing strength in the stock.
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Navin Fluorine International was the biggest gainer in the futures & options segment, rising 5.56 percent to Rs 4,123.65, the highest closing level since December 26, 2022 and formed robust bullish candle on the daily charts with significantly higher volumes. It has decisively broken consolidation range seen in last one week.
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Max Financial Services was also in action, rising nearly 4 percent to Rs 710 and there was formation of large bullish candle on the daily charts with above average volumes, with making higher high for third straight session. In fact, Tuesday's breakout was after couple of weeks of consolidation. The stock has seen a breakout of long downward sloping resistance trend line adjoining September 20, and December 19, 2022.
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Here's what Mehul Kothari of Anand Rathi Shares & Stock Brokers, recommends what investors should do with these stocks when the market resumes trading today.
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Neeraj Chadawar of Axis Securities believes that the equity will continue to trade on higher multiples for some more time.
