Page 19 - Technical Analyst News Today

An analysts from StoxBox said that Cochin Shipyard has witnessed a parabolic surge of 923 per cent from March 2023 lows. The RSI across daily and higher timeframes is trading in its overbought zone.

Markets open flat amid global weakness, focus shifts to election outcome, Nifty futures indicate marginal gain.

RVNL Share Price: RVNL shares have surged over 1,000% in 2 years driven by strong order inflows and execution. Investors are debating whether to book profits or buy the dip.

Multibagger stock: Adani Power stock climbed 3.98% to a record high of Rs 725.75 against the previous close of Rs 698.20 on BSE. Market cap of the firm rose to Rs 2.74 lakh crore.

Stocks belonging to Adani Group surged up to 14 per cent during the trading session on Friday, but gave up their gains as the session ended for the trading.

Expect volatility in domestic markets due to weak global cues, F&O expiry, and escalating tensions in West Asia.

Experts predict Nifty 50 may test support at 22,650 and 22,400 levels before Lok Sabha election results, with cautious bullish trends.

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.

Stocks to buy: Analysts recommend nine stocks for short-term gains, including Tata Motors, Tata Consumer Products, and Larsen & Toubro. Potential double-digit returns are projected in the near term.

The markets mood is expected to remain upbeat, albeit highly volatile, as it approaches the exit poll as well as the general election results, according to experts.