Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24
Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.
Defence related stocks continue to trade in overbought territory, as momentum sees elevated sentiment.
Stocks to Watch on Thursday: JSW Steel will replace HDFC in the S&P BSE Sensex effective from July 13. Moreover, Zomato will replace the stock in S&P BSE 100 index
Shares of Delhivery and Craftsman Automation may rise up to 15% and 12%, respectively, show technical charts
Shares of UltraTech Cement and Titan Company reached new historic peaks, while ABB India hit a new 52-week high on Friday
When the larger trend is strong, stocks in overbought territory tend to continue perform and stay buoyant in the face of any setback.
The bullish trend in TTML, Suzlon, Paytm, Mazagoan Dock Shipbuilders and Torrent Power continues to remain resilient, anticipating up to 30 per cent upside.
Selective rate sensitive stocks may rise up to 12 per cent
Every minor correction may see addition of long positions, say experts
Stocks setting new 52-week highs demonstrate aggressive chart structures
Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.
Technically, ICICI Bank is poised for an upside up to 10 per cent, while ICICIGI must sustain over the 200-DMA
Selective automobile stocks may soar up to 15%, show charts
if the Nifty Midcap index succeeds to absorb selling pressure emerging at current level of 33,000 mark, the probability of breaking out over the previous historic peak of 33,245 becomes more plausible
few selective stocks, like Gland Pharma, PVR INOX, Siemens, Upl and JK Paper may continue to slide lower demonstrating a bearish engulfing sentiment, show technical charts
So far this year, Persistent Systems is the top contender surging close to 30 per cent, while Infosys remains as the top loser, plunging 14 per cent.
Technically, State Bank of India's shares are well placed above the breakout mark of Rs 565 from a short-term to medium-term perspective.
Major stocks in fertlizer sector continue to trade with bullish bias, as their chart structures denote feasible upside.
Sobha Developers gains most at 11.5%, DLF and Mahindra Lifespace add over 7% each; BSE Realty index soara 4.3%, most among the 19-sectoral sub-indices