Analyst at Bonanza recommends IGL, Uno Minda, Petronet LNG to buy today; here's why
Stocks to buy today: ICICI BANK has experienced a significant correction, dropping below its short-term EMA and entering oversold territory
Hero MotoCorp (HMCL) reported a strong start to the festive season with robust traction across dealerships and expects record festive sales.
Nifty remains in a downtrend as it has been trading below all key moving averages. Supports for the Nifty are seen at 24540 and 24400.
Polycab has established itself as a clear leader in the domestic organised C&W market with ~26-27 per cent share, up from ~18-19 per cent in FY20.
Gold may correct lower on a firmer Dollar as Fed largely remains cautious on rate cuts going forward. However, downside is expected to be limited
Kunal Kamble, senior technical research analyst at Bonanza, has recommended buying shares of Syrma SGS Technology, Deepak Fertilisers, and Apollo Tyres today
Looking ahead, a temporary breather cannot be ruled out, with immediate support placed around 24,900-25,000
NTPC, Amber Enterprises, and Tata Consumer are the top picks of Ruchit Jain, head of equity technical research, wealth management, Motilal Oswal Financial Services
Valuations across IT services are currently reasonable, but a sector-wide re-rating depends on the next tech cycle and earnings upgrades
Technical stock picks: Supreme Industries, Ashok Leyland, and Torrent Power are the stock picks by Kruti Shah, quant analyst, Equirus Securities
Sammaan Capital has shown impressive strength since the beginning of September and, in the latest week, has confirmed a bullish reversal breakout from an Inverse Head and Shoulders pattern
Tata Steel has given a breakout above its resistance zone, confirming a bullish trend, while ABREL has given a breakout from its recent range‐bound movement, signaling the start of an uptrend
Paras Defence, Midhani were seen trading above the super trend line hurdle on the daily chart, thus implying a likely positive trend going ahead.
The much-awaited upward momentum for the Nifty index is likely to be confirmed only with a move above 25,000, HDFC Securities' Vinay Rajani said
Affle 3i, Raymond Lifestyle and Devyani International are the top technical picks for Kunal Kamble of Bonanza Portfolio
Markets edged higher and gained over half a percent, supported by optimism surrounding the GST Council meeting.
Apollo Tyres has given a breakout from its Inverse Head and Shoulders pattern. The stock closed with a positive bias on higher volumes, indicating strong buying interest.
Gold outlook: Spot gold continues to find robust support from a confluence of macroeconomic factors, chief among them being the rapidly deteriorating fiscal landscape in major economies.
Nifty failed to surpass the nearest resistance of its 5-day DEMA (24613) on a closing basis. However, the fall from the highs is not a definitive sign that the bullish momentum has completely faded.