Unlike the benchmark Nifty 50, the Nifty IT index is still over 9 per cent shy from its summit. Among the frontline stocks, Infosys, TCS and Wipro look fairly placed on the charts.
Stocks to Watch: The Securities Appellate Tribunal (SAT) has set aside the order by Sebi restricting IIFL Securities from taking new clients for two years
Among individual shares, Bajaj Finance and Bajaj Finserv look ripe for further upside, while Bajaj Auto may witness some consolidation in the near-term, hint charts.
Stocks to Watch on Monday, December 4, 2023: Hindustan Unilever has decided to split its beauty and personal care business into two separate divisions
Stocks to watch on November 20, 2023: SBI Card said that its capital adequacy ratio is expected to decline by 4 per cent due to the RBI's latest move on tightening consumer loan norms
Stocks to Watch on Wednesday, November 15, 2023: The Mumbai Police has filed an FIR in connection with the Mahadev betting app scam against prominent figures from the Dabur Group
Bayer Cropscience, Granules India and HLE Glasscoat are the other three stocks that can generate healthy returns till next Diwali, based on the existing chart patterns.
Among individual stocks, Vinay Rajani, technical & derivative analyst at HDFC Securities, recommends to Buy EIH and Doodla Dairy for up to 8 per cent upside.
IT majors - TCS, Infosys and HCL Technologies flagged concerns of slower growth going ahead after announcing the Q2 results in the last two days.
Among the key momentum oscillators, the 14-day RSI, MACD and Stochastic Slow on selective basis have turned positive for these five stocks.
1 out of every 25 shares from the Nifty 500 index has more-than-doubled investors wealth in 2023 so far, with Apar Industries, Mazagon Dock and JBM Auto as the top movers.
Data Patterns (India) and Godfrey Phillips are the other two stocks which seem to be favourably placed on the charts, thus making a case for lower-risk at current levels.
Among the stocks in focus on Monday, Shree Renuka Sugars looks strong on charts, while Inox Green Energy seems weak.
Among individual stocks, Vinay Rajani the technical & derivative analyst of HDFC Securities recommends to Buy Infosys and Sun Pharma.
Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.
While the Nifty Metal index seems headed towards its crucial resistance zone, select stocks such as Hindalco, Nalco and SAIL still have the potential to rally up to 15 per cent, charts suggest.
On the broader market outlook, Vinay Rajani the technical & derivative analyst says the breadth of the market is very strong as more than 83% of the NSE500 stocks are above their 200-DMAs.
Stocks to Watch today, August 29, 2023: An investigation of India's Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities
Stocks to watch on August 18, 2023: The Rekha Jhunjhunwala backed IPO, Concord Biotech, is set to debut on the bourses today at 10-15 per cent premium to its issue price.
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could trade in the range of 19,612 - 19,819 in the near term.