Page 12 - Deepak Nitrite News Today

The stock market showcased significant movements as several stocks rose above their 100-day Simple Moving Average (SMA) on August 24, a pivotal technical indicator

"We are very bullish on IT stocks and Coforge is one of those names which we all have in our IT basket as well. My sense is this stock can revisit its December 21 highs, somewhere around the 5800-5900 mark. From a positional perspective, from a delivery perspective looks good. From a trading perspective, I think there is a good chance we head towards the 5400 mark. So Coforge would be my pick amongst the names. IT as a basket is something that we are liking in particular."

Prabhudas Lilladher trims Nifty target to 20,735, citing EL Nino impact on inflation and weak earnings. Expect consolidation ahead of 2024 elections.

Cholamandalam Investment and Finance marked a significant achievement by exceeding its 100-day SMA and closing at Rs 1044.85 on August 21. The company specializes in financial services, catering to diverse segments.

Escorts Kubota, BHEL, Dixon Technologies, IDFC First Bank, and AU Small Finance Bank were among the 50 stocks to see a long build-up. An increase in open interest (OI) and price indicate a build-up of long positions.

This article delves into the concept of RSI and its role in assessing stock movements, with a focus on ten stocks that witnessed a downtrend in RSI. As StockEdge reported 24 such stocks and ETMarkets narrowed it down to 10, we explore why RSI matters, and how it can aid investors in making informed choices.

The stock market witnessed several noteworthy stocks crossing their 50-day Simple Moving Averages (SMA), indicating strong market momentum and potential bullish trends.

​And unless it crosses that, I would not go aggressive long or maybe take any position on the index. And as you mentioned, one should not look at shorting the market at current levels because again, the immediate supports are between 19,500 and 19,400, give and take 100-150 points in the Nifty.

In the last five years many segments of the chemical and specialty chemical sector had been coming into focus. They stay in the limelight for some time, then as too much money chases them which makes their valuations move up sharply and then a long phase of consolidation. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

Pti: DNL began FY24 with a promising performance amidst macro-economic challenges