CLOSING BELL: In the broader markets, the Nifty MidCap100 and SmallCap100 indices fell up to 1.6 per cent.
The analyst from Anand Rathi recommends to buy these stocks based on a positive technical set-up
Rossari Biotech has been in a secular uptrend and is placed well above all the major exponential moving averages on the daily charts
Nifty is expected to continue its uptrend and longs should be held on a trailing stop loss basis
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
Immediate target for Nifty is seen at 16,300-16,400 range while support has shifted up to 15,950 in Nifty
HDFC Life has formed a strong base after hovering in a narrow range for nearly a month and looks set to reverse the short-term downtrend
HDFC Bank has also rebounded sharply and surpassed the resistance zone of moving averages ribbon on the daily chart
Off late, the private banks have underperformed but they are showing signs of base formation
Upside target for Nifty is seen at 14,300 odd levels, which happens to be the 138.2 per cent Fibonacci retracement of the downswing seen from 12,430 to 7,511
The regulator has also directed two entities to disgorge unlawful gains of over Rs 21 lakh, made while dealing in the scrip of the firm
Balkrishna Industries is currently hovering in a range while holding strong above the support zone of 20 EMA on the daily charts
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
For ACC, the RSI has signaled a trend reversal while decent volume participation has also been witnessed
Trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
Here are the weekly stock recommendations by Religare Broking
Technical calls by Gaurav Garg, Head of Research, CapitalVia Global Research Limited- Investment Advisor
Here are the weekly stock recommendations by Religare Broking.
Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares, and Stock Brokers.
11,000 and 12,000 are strong support and resistance levels, respectively based on option open interest (OI) data for current month series.