Stocks to Watch, 30 June: Stocks like Torrent Pharmaceuticals, JB Chemicals and Pharmaceuticals, Jyoti CNC Automation, BHEL, Alembic Pharma, Waaree Energies, Prestige Estates Projects, Bharti Airtel, Le Lavoir, Reliance Industries, and Hind Rectifiers will be in focus on June 30.
Brent crude prices dipped below $70 per barrel overnight for the first time since December 2021, as worries about sluggish demand, slowing economic growth, and the increasing shift towards electric vehicles weighed on the sentiment.
The Nifty 50 needs to sustain 24,500 for a further upward journey towards the 24,800 level, with immediate support placed at 24,400. Here are some trading ideas for the near term.
The 20-day moving average (20-DMA), which aligns with the 19,500 level, is crucial for Nifty as it serves as a critical support level.
ICICI Direct is bullish on Hindustan Oil Exploration Company recommended buy rating on the stock with a target price of Rs 260 in its research report dated June 19, 2023.