Page 11 - Share Tips News Today

Glenmark Pharma formed bullish candlestick pattern on the daily scale with above average volumes. The stock showed nice recovery in last four days after falling closer to 200-day EMA, and now traded above all key moving averages.

The daily bullish candle and the hourly charts pattern of higher-highs, higher-lows affirms the robust outlook, with the next rally potentially targeting the 22,300-22,350 range

It would be advisable to take an approach of holding longs with trailing stop-loss instead of anticipating any upside target for the Nifty.

JBM Auto formed a robust bullish candlestick pattern on the daily charts with significantly higher volumes, after several weeks of consolidation. The stock traded above all key moving averages.

On the corporate earnings front, Krishnan thinks that margin expansion due to raw material prices cooling off will likely wane as a driver, hence topline growth will be key to driving earnings growth. And topline growth has been patchy, with few sectors like consumption, displaying weakness.

Questor share tip: BP’s focus on boosting returns for shareholders through a more pragmatic approach to investment is poised to pay off

The initial sessions of the coming week will be crucial to gauge Nifty reactions around the 22,100 - 22,150 zone.

SBI Life Insurance Company ended at new closing high and formed strong bullish candlestick pattern with healthy volumes on the daily timeframe, after a decisive breakout of horizontal resistance trendline.

Basis the Chart formations & relative strength modelling, Sudeep Shah expects Oil & Gas, Auto, PSU Bank, Pharma, IT & Defence space to continue outperforming the broader indices in the coming few weeks.

If the Nifty 50 climbs above 22,127, the previous record high, and sustains the level, then 22,300 could be the next hurdle on the higher side, followed by 22,500, while the immediate support will be at 21,950, followed by 21,750