Page 21 - Technical Analyst News Today

The market is expected to consolidate in the coming sessions, though the overall trend remains in favour of bulls.

Stocks that were in focus include names like Tata Technologies, which closed flat, Apollo Tyres, which jumped 3.14%, and Vodafone Idea, whose shares fell 0.76% on Thursday.

An analyst from StoxBox said that the recent weakness in Adani Ports has observed support around its 100-day moving average (DMA) set at Rs 1,250 level on the daily charts.

Overall markets expected to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling, and the outcome could keep volatility higher.

Adani Ports was under observation since March 2022, and the decision for exclusion is based on a recommendation from the Council on Ethics of November 21, 2023.

HCC, LTIM and Grasim are amongst top swing trade picks for the week ahead.

Shares of multibagger Mazagon Dock Shipbuilders zoomed to their fresh record high amid a rally in the broader market on Friday. Mazagon Dock Shipbuilders stock surged 14.57% intraday to Rs 2794.40 against the previous close of Rs 2439 on BSE. Total 3.61 lakh shares of the firm changed hands amounting to a turnover of Rs 95.58 crore. Market cap of Mazagon Dock rose to Rs 55,808 crore on BSE.

Stocks that were in focus include names like Siemens India, which rose 6.33%, Oil India, which jumped 1.98%, and LIC, whose shares increased 6.82% on Wednesday.

Overall , experts expect market to stay within this 200 point range for todays expiry.

Derivative data suggests a long build in the Britannia Industries, with addition of over 7 percent in open interest in the early morning session.