HDFC AMC was the third highest gainer in the futures & options segment, climbing nearly 4 percent to Rs 2,274, the highest closing level since April 7, 2022 and formed long bullish candle on the daily charts with strong volumes. It has seen a breakout of long horizontal resistance trend line adjoining March 16 and December 2 this year.
Jubilant Foodworks has given a breakout of a falling trendline with increase in volume activity. With the breakout the stock formed a strong bullish candle and closed at 2-weeks high level.
JK Paper is showing relative outperformance and touched a new life high in Monday's session. The stock has not corrected irrespective of the weakness in the market and has been moving with higher highs and lows along with volume expansion in the upmove.
Going ahead Malay Thakkar of GEPL Capital expects Gujarat Ambuja Exports to move higher towards Rs 310 followed by Rs 330 levels. A stop-loss of Rs 275 should be maintained on the downside for this setup.
GNFC is in strong uptrend across all timeframes forming a series of higher tops and bottoms. The stock is well-placed above the 20, 50, 100 and 200-day SMA which reconfirmed bullish trend.
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FPIs together held 31,88,222 shares of the company at the end of September quarter of FY21, which rose to 66,71,873 at the end of the December quarter.