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JK Lakshmi Cement shares jumped more than 10 percent to end at record closing high of Rs 825.35 and formed robust bullish candle on the daily charts with healthy volumes. It has been making higher highs for 10th consecutive session.
Hindustan Copper has broken out from the downward sloping trend line on its weekly charts. Volumes have been gradually rising along with the price rise.
Minda Corporation has witnessed an ‘Inverted Head & Shoulder’ pattern breakout on the daily chart, which has been backed by robust volumes. The technical indicators construe a firm setup in the stock price, and it is expected to continue its upward journey in the comparable period.
Cholamandalam Investment and Finance Company, Godrej Consumer Products, HDFC Bank, Hindustan Unilever, Tata Consumer Products and UltraTech Cement among the top six stocks KRChoksey bets on.
The momentum is intact and the Friday's correction is on expected lines given the consistent uptrend in the past. Hence, once the current consolidation ends, the Nifty50 is expected to resume upward journey once again towards 18,900-19,000 levels in coming days, with crucial supports at 18,500-18,300, experts said
Varun Beverages shares rallied 4 percent to end at record closing high of Rs 1,319 on last Friday and formed long bullish candle on the daily charts with above average volumes.
Marksans Pharmaceuticals, PDS, Lumax Auto Technologies, Devyani International, Mishra Dhatu Nigam are among the top 5 smallcap picks of HDFC Securities.
Voltas closed nearly 3 percent higher at Rs 842.35 apiece on Thursday and formed long bullish candle on the daily charts with strong volumes
Looking at the ratio charts of Persistent against the Nifty IT index, we can spot the stock since mid-2019 has most of the time outperformed the benchmark. Persistent in the latest week has given a breakout from the double bottom pattern, indicating beginning of the trend to the upside.
In the last few years, a number of new players have announced their entry into the paints industry including big pocketed players like JSW Group and Grasim Industries.
The Nifty is trading in uncharted territory, so theoretically, the upper side is unlimited.
Bharat Dynamics has given a falling trend line breakout with a rise in volumes on the daily chart. The momentum indicator RSI has also given a positive crossover which confirms the buy signal on the daily chart.
Jindal Steel & Power shares rallied 4 percent to Rs 535.75, the highest closing level since April 29 this year, and formed bullish Engulfing kind of pattern on the daily charts with strong volumes. The stock has seen a breakout of long downward sloping resistance trend line adjoining April 11 and November 23 this year.
Attractive valuations and NHAI order inflows in the second half of this fiscal are likely to pep up the two EPC stocks despite a lull in the sector.
For the Nifty, support is at 18,325–18,245, while on the upside, 18,800-18,888-19,000 will be the next resistance levels
IDBI Bank shares gained nearly 3 percent to close at Rs 54.30, the highest closing level since November 10, 2021 and formed high wave kind of pattern on the daily charts, making higher highs higher lows for third consecutive session.
The momentum seems to be in favour of bulls but having consistent run-up for the last few days, some bouts of volatility and consolidation can be seen in coming sessions, before taking gradual march towards first 18,700-19,000 area
Delta Corp climbed 5 percent to Rs 232, the highest closing level since May 24 this year, and formed long bullish candle on the daily charts with above average volumes. Also there was a breakout of more than a month-long consolidation.
IRB Infrastructure Developers has broken out on the daily line chart with higher volumes to close at highest level since November 9. The stock price has been forming higher top higher bottom candle stick pattern on the daily chart.
According to experts, 18,450-18,500 is likely to be a crucial area for further upside. If the said zone sustains, then new highs are possible in the coming days, with support at 18,300, followed by 18,000 levels
Punjab National Bank shares rallied more than 5 percent on November 25 to Rs 53.6, their highest closing since February 14, 2020, and formed a bullish candle on the daily charts
For the Nifty, 18,600 and 18,750 are the next levels to watch out for, above which the path to the next milestone of 19,000 unfolds
RCF is at 52-week high level indicating strong price momentum and room to move higher. The stock has given a multi-year breakout which points towards the beginning of a fresh trend on the upside.
Indoco Remedies shares rallied more than 7 percent to Rs 415.35 and formed long bullish candle on the daily charts with strong volumes. Overall it has seen a good run up after breaking out long downward sloping resistance trend line adjoining August 12, 2021 and August 3, 2022.
The asset manager has snapped up 11.1 million shares in Nykaa’s parent since November 10. That’s roughly 16 percent of the shares sold since the end of the lock-in period for pre-IPO investors.