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Buying was seen in telecom, auto, utilities, power and consumer discretionary sectors, while marginal selling was seen in IT stocks.
The stocks that were in focus included names like
Which increased by more than 19 percent, and that grew a little over 1 percent.
Head of Research Santosh Meena suggests what investors should do with these stocks when the market starts trading today:
Nazra Technologies: 50-DMA Crucial
The counter is witnessing a sharp jump after a serious downside, however, Rs 644 is a major hurdle that coincides with the 50-DMA. For the stock to move higher, it needs to cross this crucial hurdle placed at the 50-DMA for any meaningful recovery.
If it manages to cross Rs 644 level, then we can expect an upside move towards Rs 730 level. On the downside, Rs 570 will now act as a strong support.
If we look at the Momentum Indicator, Relative Strength Index or RSI, it is showing a strong positive divergence.
HDFC: Positive crossover in both MACD and RSI
The counter is trying to form base in the 2100-2050 zone where Rs 2200 is an immediate hurdle, above which, we can expect a rally towards 2280/2390/2500 levels.
There is a positive crossover in both MACD and RSI which is indicating a pullback rally in this counter. Rs 2120 is a strong support level on an immediate basis.
HDFC Bank: MACD is witnessing a positive crossover
It has formed a strong base at Rs 1300 level with triple bottom formation and is now ready for a pullback rally where Rs 1400 is an immediate hurdle, and then Rs 1460 will be the next target level.
MACD is witnessing a positive crossover while RSI has moved above the 50 level to generate positive momentum.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of The Economic Times.)
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