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Ujjivan Financial Services rose nearly 2 percent to Rs 210, the highest closing level since August 13, 2021 and formed decent bullish candlestick pattern on the daily charts, while Elgi Equipments jumped more than 2 percent to end at record closing high of Rs 551 and formed small bodied bullish candle on the daily scale.
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Ujjivan Financial Services jumped more than 6 percent to close at more than one year high of Rs 196 and formed a robust bullish candlestick pattern with large volumes, while Tejas Networks was up more than 6 percent to Rs 525 and formed a strong bullish candlestick pattern on daily charts with robust volumes.
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HDFC Bank saw the most action on April 4 and was the biggest Nifty50 gainer, rising 10 percent to Rs 1,656.80 on the announcement of HDFC merger
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Here's what Mehul Kothari of Anand Rathi Shares & Stock Brokers, recommends investors should do with these stocks when the market resumes trading today.
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Prices will accelerate on a decisive close above a recent highest high level placed around 11,360 mark towards the unfilled gap standing around 11,633.
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With an improvement in sentiment along with the earnings, the outlook for the mid and smallcaps looks positive, says Pankaj Bobade of Axis Securities.
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Short- term moving average 20 DMA defines short-term trend which is providing support to buyers as prices as it is sustaining and trading above it at Rs 360 marks.
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Most experts are now advising investors to hold the stock for longer term on the back of good fundamentals
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The strategy would enable the traders to take advantage of expected up-move with limited risk.
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Prakash Gaba of prakashgaba.com recommends buying Cadila Healthcare with target at Rs 270 and stop loss at Rs 260 and Kotak Mahindra Bank with target at Rs 1675 and stop loss at Rs 1640.
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Sudarshan Sukhani of s2analytics.com recommends buying Exide Industries with stop loss at Rs 188 and target of Rs 201, HDFC with stop loss at Rs 2150 and target of Rs 2400 and Jindal Steel & Power with stop loss at Rs 141 and target of Rs 152.
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Prakash Gaba of prakashgaba.com suggests selling Just Deal with stop loss at Rs 597 and target of Rs 570
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Sudarshan Sukhani of s2analytics.com advises selling Bharti Infratel with a target of Rs 201.
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Any dip is likely to be a buying opportunity for traders until we trade above this level.
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Some volatility can not be ruled out since we have expiry of the September series future and option contracts coming up on September 26 .
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Any big move on the higher side should be expected if Nifty50 closes above 11,200 levels on a sustained basis.
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With access to retail and wholesale deposits, UBS expects market share gains to continue and sees AUM of the three SFBs to rise at a 33 percent CAGR over FY19-22E to Rs 1.1 lakh crore
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Atish Matlawala of SSJ Finance & Securities said that rate cut will benefit banks as they will be able to bring down the cost of funds and pass on the benefit to the borrowers
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The weekly strength indicator RSI and momentum oscillator Stochastic have turned positive and are above their respective reference lines indicating positive bias in Nifty
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Ashwani Gujral of ashwanigujral.com recommends buying RBL Bank with a stop loss of Rs 670, target of Rs 692 and Amara Raja Batteries with a stop loss of Rs 678, target of Rs 700.
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Ashwani Gujral of ashwanigujral.com recommends buying Escorts with a stop loss of Rs 810, target of Rs 845, Ujjivan Financial Services with a stop loss of Rs 332, target of Rs 347 and L&T Finance Holdings with a stop loss of Rs 146, target of Rs 160.
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The risks to portfolio would be geopolitical tension and global recession (as there are expectations of economy slowdown in US and Europe), Edelweiss said.
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The stock can be sold at current levels and on the rise towards Rs 263 with a stop loss above Rs 274 for a target of Rs 230.
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Immediate resistance zone is seen at 10,960-11,020. But, last week’s high of 11,118 needs to be taken out a rally to be seen on the upside
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Prakash Gaba of prakashgaba.com recommends buying Berger Paints with target at Rs 330 and stop loss at Rs 316, Federal Bank with target at Rs 95 and stop loss at Rs 88 and GAIL India with target at Rs 360 and stop loss at Rs 344.
