Metal shares contributed to the rally after implementing 12% provisional security duty for 200 days on five categories of steel imports. Realty shares increased by 6%, which was provoked by improving the liquidity condition.
Three stocks to buy today, as recommended by Ankush Bajaj:
- Why is it recommended: Max Healthcare shares have given a falling veg brakeout. In addition, the stock has formed a double bottom 1060 and a strong rally was given till date.
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- Major matrix: Breakout level: 1120, Chart Pattern: Falling Wage Breakout + Double Bottom, Time Frame: Per Hour
- technical analysis: A technical breakout with strong support formation and rapid chart patterns suggests reverse speed. Stock is likely to move towards its next resistance levels.
- risk: Healthcare stocks may face price volatility due to regulatory changes, occupancy rates and pricing controls.
- Purchase, 1,128
- target price, 1,170- 11,80 in 1-2 weeks
- Lack closed, 1107
- Why is it recommended: If we look closely, the stock has closed up 2,645, which was a recent high and 50% retracement for low, indicates that the bulls are now in charge. In addition, RSI is trending, confirming the rapid trend.
- Major matrix: Breakout level: 2,645, chart pattern: Fibonacci 50% Retressment + RSI Trending, Time Frame: Hour per hour
- technical analysis: A closing of a major retracement level with strengthening RSI signals, potentially reverse. Stock is showing signs of rapid continuity and can test high resistance levels.
- risk: FMCG shares can be under pressure due to consumer spirit, input cost inflation, or changes in rapid rampage in rural demand.
- Purchase, 2,658
- target price, 2,725- 2,740 in 1-2 weeks
- Lack closed, 2,620
Purchase: Patanjali foods (Current price: 1,967)
- Why is it recommended: This stock has a holistic trend with the trend of FMCG region. Stock recently touched a new lifetime, followed by some improvement. This is a purchase on the occasion of DIPS, and we should take long positions at this level. New heights are expected to break in the coming days.
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- Major matrix: Recently High: Lifetime High Tchid recently, chart pattern: uptrend with healthy improvement, time limit: per hour per hour
- technical analysis: Stock remains in a strong uptrend. After a light pullback, it is offering a new entry opportunity. FMCG adds strength to speed move, and there is a possibility of a breakout for new heights.
- risk: FMCG and edible oil section stock input costs can be affected by instability, government rules and rural consumption patterns.
- Purchase, 1,967
- target price, 2,000- 2,020 in 1-2 weeks
- Lack closed, 1,948
Market Ricap: Nifty opens more, trade in narrow band of 24,000-24,300
The Indian stock market shut down the Tuesday session with a strong gap-up inauguration, reflecting a positive domestic spirit. However, despite the powerful beginning, the indexes were stuck within a narrow range throughout the day, pointing to a stagnation in speed rather than aggressive follow -up purchases.
The Nifty 50 shut down 41.70 points, rose 0.17% to 24,167.25, while the BSE Sensex rose 187.09 points or 0.24% to finishing the day at 79,595.59. The Nifty traded between 24,000 and 24,300 during the session, indicating intraday consolidation between recent steps.
Nifty Bank proceeds with stable benefits
In major indices, the Nifty Bank rose 342.70 points (0.62%) to closure to 55,647.20. Private and PSU banks saw strong purchases, which was supported by optimism around credit development and a change towards financial heavyweight.
Sector Scene: Rotation in Sports
The market reflected a healthy rotation, with select area witnesses of accumulation, while others saw the booking of mild profit. Realty increased by 2.42%, which shows constant strength in counters associated with property. FMCG increased 1.89%, supported with strong demand indicators and income expectations. Healthcare showed 0.80%pair, pharma and stability in clinical names.
On the other hand, there was light sales in defensive and government -linked areas. Infrastructure slipped 0.49%. The PSE region fell 0.37%, and the energy index decreased by 0.36%.
Stock Action: Mixed Moves throughout the board
ITC received 2.54% amidst strong income estimates. Hindustan Unilever increased by 2.03%, which is continuously powered by retail traction. Mahindra and Mahindra advanced 1.92%, supported by favorable rural data and credit power.
However, some prominent names came under pressure. IndusInd Bank 4.91% post fell into a disappointing quarterly number. Powergrid slipped 2.33% after its earning release. Hero MotoCorp declined by 2.13%amid light rotation away from auto stocks.
Indian stock market outlook
On the daily chart, as exposed in previous reports, there is a significant resistance to view 24,210 levels. A decisive above this mark would indicate a strong rapid rapid indication, paving the way to one upward to 24,630 in the coming sessions.
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Momentum indicators strengthen this approach: RSI is at 65, which reflects the speed of constant boom, while on 22.50 ADX indicates a trend in the early stages of development. The MACD line remains above its signal line, which supports the possibility of further reverse.
Read this Tariff-proof Nifty Bank can increase the rally up to 2% fresh high this week
However, on an hourly chart, caution is warrant. The ADX stands at 53 and climbed on the RSI 72, suggesting that the index is in a strong trend, but close to the area is close to the area-resistance or short-term pullbacks. In particular, 24,210 acted as an rejection area in the previous season. If the Nifty fails to break above this level again, some sales pressure may emerge.
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In the event of a reversal, the next major support is around 23,750, a level that can serve as a potential base or bounce area.
For short -term traders, the strategy remains “buy on dips”, especially near strong support levels, because the broader trend is in favor of the bull.
Ankush Bajaj is a sebi-regulated research analyst. Their registration number is inh000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing.
The registration given by SEBI and no certification from the NISM is whether no one guarantees the performance of the mediator or provides any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are of individual analysts. They do not represent the ideas of Taaza Khabar 247. We recommend investors to investigate with certified experts before taking any investment decisions.
