Arora Technical Analyst News Today

Given the volatility, which hit a fresh two-year high at around 24 ahead of the mega event - Lok Sabha election results, the Nifty 50 index is likely to consolidate further with immediate support at 22,800 and then 22,600, whereas 23,000 is expected to be the hurdle on the higher side.

The consolidation is expected to continue in the coming days, with resistance on the higher side at 23,000 on the Nifty 50, followed by 23,100, and support at 22,800 and then 22,600 levels, experts said.

Polycab India stock touched a record high of Rs 5787.10 in the previous trading session. Later, it closed 0.58% higher at Rs 5666.60 on BSE.

Mazagon Dock vs Cochin Shipyard shares: Shares of Mazagon Dock Ltd and Cochin Shipyard Ltd are among the most sought after stocks in the defence sector. Both scrips have delivered multibagger returns in a year reflecting stellar investor interest during the period. While Mazagon Dock stock rallied 234%, shares of Cochin Shipyard shares rose 344% in a year.

Stocks to buy: Stocks like IPCA Laboratories, Mrs. Bectors Food Specialities, and ICICI Prudential Life Insurance are recommended buys with potential upside ranging from 9% to 17%.

Tata Steel vs JSW Steel: Tata Steel stock ended 4.62% higher at Rs 163.20 on BSE today. On the other hand, JSW Steel stock ended 4.81% higher at Rs 871.30.

Nifty 50 jumped 2 per cent during the session on Friday to hit its fresh all-time high of 22,126.80.