On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of ₹260 this stock can bounce toward the ₹285 level in the short term. Hence, the trader can go long with a stop loss of ₹805 for the target price of ₹835.Ħ] OIL: Buy at ₹270, target ₹285, stop loss ₹260. So, holding the support level of ₹805 this stock can bounce toward the 835 level in the short term. In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹835. PNB share price has formed higher top higher bottom on chart pattern that signals uptrend in near term.Ĥ] City Union Bank or CUB: Buy at CMP, target ₹145, stop loss ₹124.ĬUB share price is looking bullish on chart pattern after recovering from the oversold zone.ĥ] Max Financial Services Ltd or MFSL: Buy at ₹818, target ₹835, stop loss ₹805. RSI indicator is comfortably trading near 54 levels indicating that the stock may continue to move on the higher side gradually.ģ] Punjab National Bank (PNB): Buy at CMP, target ₹70, stop loss ₹58. The stock's minor resistance is placed at 578 levels. The stock is also sustaining 23.6% of Fibonacci retrenchment which resembles at these levels. A smaller resistance is witnessed at the all-time high level of ₹990 and once stock crosses the mentioned level it can move towards the target of ₹1010 and above.Ģ] Dabur: Buy at ₹575, target ₹592, stop loss ₹565.ĭabur share price has bounced back from its previous support zone. The stock is also trading above all important moving averages indicating strength. Currently, the stock is trading around ₹976.8 levels, which indicates breakout above the mentioned resistance level. On intraday stocks for today, stock market experts - Sumeet Bagadia, Executive Director at Choice Broking Anuj Gupta, Vice President - Research at IIFL Securities and Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi - recommended six stocks to buy today.ġ] Axis Bank: Buy at ₹976.80, target ₹1010, stop loss ₹950.Īxis Bank share has bounced back from the support level of ₹953 which is also close to 50 Day EMA and crossed the initial resistance of ₹967 levels which is also 20 Day EMA. A breach of 19,900 resistance could pave the way for higher targets of around 20,200 in the near term." We maintain a positive bias on the markets, with key support for the Nifty index, seen at 19,650. However, market participants are now anticipating that the Fed is done with its rate hike cycle after yesterday’s increase, which is likely to boost sentiment. Fed Chair Jerome Powell said that the central bank is still confident that it can bring inflation down without causing a recession, but he ruled out any rate cuts this year. On how US Fed rate hike would impact Indian stock market, Sugandha Sachdeva, Executive Director & Chief Strategist at Acme Investment Advisors said, "The US Federal Reserve raised interest rates by 0.25 percentage points, as expected, bringing the benchmark federal funds rate to 5.25–5.50%, the highest level in 22 years.
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